Qingdao Kingking Applied Chemistry Co Stock Forecast

Qingdao Kingking Applied Chemistry Co stock upgraded to Buy Candidate.
(Updated on May 06, 2024)

002094.SZ Signals & Forecast

There are mixed signals in the stock today. The Qingdao Kingking Applied Chemistry Co stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ¥2.76. On a fall, the stock will find some support from the short-term average at ¥2.56. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 15.52%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for Qingdao Kingking Applied Chemistry Co stock

Qingdao Kingking Applied Chemistry Co finds support from accumulated volume at ¥2.64 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ¥0.0700 between high and low, or 2.66%. For the last week, the stock has had daily average volatility of 5.05%.

Our recommended stop-loss: ¥2.58 (-3.64%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 11 days ago.)

Trading Expectations (002094.SZ) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect Qingdao Kingking Applied Chemistry Co to open at ¥2.67, and during the day (based on 14 day Average True Range), to move between ¥2.48 and ¥2.88, which gives a possible trading interval of +/-¥0.196 (+/-7.31%) up or down from last closing price. If Qingdao Kingking Applied Chemistry Co takes out the full calculated possible swing range there will be an estimated 14.62% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥2.64 (1.49%) than the resistance at ¥2.83 (5.60%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Qingdao Kingking Applied Chemistry Co 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 Qingdao Kingking Applied Chemistry Co stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 1.785 Buy Candidate Upgraded

Predicted Opening Price for Qingdao Kingking Applied Chemistry Co of Tuesday, May 7, 2024

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