Shandong Denghai Seeds Co Ltd Stock Forecast

Weaker technical forecast for Shandong Denghai Seeds Co Ltd as stock downgraded to Hold/Accumulate.
(Updated on May 10, 2024)

002041.SZ Signals & Forecast

The Shandong Denghai Seeds Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ¥10.01 and ¥9.96. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen -0.292%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Shandong Denghai Seeds Co Ltd stock

Shandong Denghai Seeds Co Ltd finds support from accumulated volume at ¥9.99 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 ¥0.580 between high and low, or 5.77%. For the last week, the stock has had daily average volatility of 3.76%.

The Shandong Denghai Seeds Co Ltd stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: ¥9.99 (-2.37%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 87 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (002041.SZ) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Shandong Denghai Seeds Co Ltd to open at ¥10.30, and during the day (based on 14 day Average True Range), to move between ¥9.78 and ¥10.68, which gives a possible trading interval of +/-¥0.446 (+/-4.36%) up or down from last closing price. If Shandong Denghai Seeds Co Ltd takes out the full calculated possible swing range there will be an estimated 8.72% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥9.99 (2.35%) than the resistance at ¥10.95 (7.04%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Shandong Denghai Seeds Co Ltd stock A Buy?

Shandong Denghai Seeds Co Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.126 Hold/Accumulate Downgraded

Predicted Opening Price for Shandong Denghai Seeds Co Ltd of Monday, May 13, 2024

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