Shanghai Kehua Bio-Engineering Co Ltd Stock Forecast

Shanghai Kehua Bio-Engineering Co Ltd stock upgraded to Hold/Accumulate.
(Updated on May 31, 2024)

002022.SZ Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 2.15%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Shanghai Kehua Bio-Engineering Co Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ¥6.75 and ¥7.14. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Shanghai Kehua Bio-Engineering Co Ltd stock

Shanghai Kehua Bio-Engineering Co Ltd finds support from accumulated volume at ¥6.63 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ¥0.240 between high and low, or 3.69%. For the last week, the stock has had daily average volatility of 4.65%.

Shanghai Kehua Bio-Engineering Co Ltd is oversold on RSI14 (14). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: ¥6.23 (-6.51%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 14 which reduces the risk some. There is a buy signal from a pivot bottom found 15 days ago.)

Trading Expectations (002022.SZ) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Shanghai Kehua Bio-Engineering Co Ltd to open at ¥6.64, and during the day (based on 14 day Average True Range), to move between ¥6.31 and ¥7.01, which gives a possible trading interval of +/-¥0.347 (+/-5.21%) up or down from last closing price. If Shanghai Kehua Bio-Engineering Co Ltd takes out the full calculated possible swing range there will be an estimated 10.42% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥6.63 (0.45%) than the resistance at ¥7.06 (6.01%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Shanghai Kehua Bio-Engineering Co Ltd stock A Buy?

Shanghai Kehua Bio-Engineering Co Ltd holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.965 Hold/Accumulate Upgraded

Predicted Opening Price for Shanghai Kehua Bio-Engineering Co Ltd of Monday, June 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.