Ningbo Huaxiang Electronic Co., Ltd. Stock Forecast

Red day on Friday for Ningbo Huaxiang Electronic Co., Ltd.
(Updated on Apr 26, 2024)

002048.SZ Signals & Forecast

The Ningbo Huaxiang Electronic 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 ¥13.38 and ¥12.96. 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 Wednesday, April 24, 2024, and so far it has fallen -1.18%. 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. The stock had a Golden Star Signal on Thursday, February 22, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Ningbo Huaxiang Electronic Co., Ltd. stock

Ningbo Huaxiang Electronic Co., Ltd. finds support from accumulated volume at ¥13.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ¥0.490 (3.71%) between high and low. For the last week, the stock has had daily average volatility of 2.64%.

Our recommended stop-loss: ¥12.99 (-3.18%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (002048.SZ) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Ningbo Huaxiang Electronic Co., Ltd. to open at ¥13.44, and during the day (based on 14 day Average True Range), to move between ¥13.05 and ¥13.79, which gives a possible trading interval of +/-¥0.374 (+/-2.79%) up or down from last closing price. If Ningbo Huaxiang Electronic Co., Ltd. takes out the full calculated possible swing range there will be an estimated 5.58% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥13.56 (1.04%) than the support at ¥13.20 (1.64%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Ningbo Huaxiang Electronic Co., Ltd. stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Ningbo Huaxiang Electronic Co., Ltd. stock to perform well in the short-term.

Current score: 1.938 Buy Candidate Unchanged

Predicted Opening Price for Ningbo Huaxiang Electronic Co., Ltd. of Monday, April 29, 2024

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