Shan Dong Sun Paper Industry JSC Ltd Stock Forecast

Red day on Friday for Shan Dong Sun Paper Industry JSC Ltd stock after losing 0.789%
(Updated on May 31, 2024)

002078.SZ Signals & Forecast

There are few to no technical positive signals at the moment. The Shan Dong Sun Paper Industry JSC 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 ¥15.21 and ¥15.59. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -7.31%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Monday, December 25, 2023 in the long-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 Shan Dong Sun Paper Industry JSC Ltd stock

Shan Dong Sun Paper Industry JSC Ltd finds support from accumulated volume at ¥14.56 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ¥0.260 between high and low, or 1.73%. For the last week the stock has had daily average volatility of 2.78%.

Shan Dong Sun Paper Industry JSC Ltd is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (002078.SZ) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Shan Dong Sun Paper Industry JSC Ltd to open at ¥15.13, and during the day (based on 14 day Average True Range), to move between ¥14.62 and ¥15.54, which gives a possible trading interval of +/-¥0.461 (+/-3.05%) up or down from last closing price. If Shan Dong Sun Paper Industry JSC Ltd takes out the full calculated possible swing range there will be an estimated 6.11% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥15.41 (2.19%) than the support at ¥14.56 (3.45%), 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 Shan Dong Sun Paper Industry JSC Ltd stock A Buy?

The Shan Dong Sun Paper Industry JSC Ltd stock holds several negative signals and despite the positive trend, we believe Shan Dong Sun Paper Industry JSC Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.058 Sell Candidate Unchanged

Predicted Opening Price for Shan Dong Sun Paper Industry JSC Ltd of Monday, June 3, 2024

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