Zhejiang Hailide New Material Co., Ltd Stock Forecast

Stronger technical forecast for Zhejiang Hailide New Material Co., Ltd stock price after Friday trading.
(Updated on May 17, 2024)

002206.SZ Signals & Forecast

The Zhejiang Hailide New Material 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 ¥4.54 and ¥4.40. 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). 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. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -0.644%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Friday, March 08, 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 Zhejiang Hailide New Material Co., Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at ¥4.30 and ¥4.23. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Zhejiang Hailide New Material Co., Ltd finds support just below today's level at ¥4.30. If this is broken, then the next support from accumulated volume will be at ¥4.23 and ¥4.14.

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 ¥0.170 between high and low, or 3.78%. For the last week, the stock has had daily average volatility of 3.04%.

Our recommended stop-loss: ¥4.46 (-3.71%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 8 days ago.)

Trading Expectations (002206.SZ) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Zhejiang Hailide New Material Co., Ltd to open at ¥4.60, and during the day (based on 14 day Average True Range), to move between ¥4.44 and ¥4.82, which gives a possible trading interval of +/-¥0.189 (+/-4.08%) up or down from last closing price. If Zhejiang Hailide New Material Co., Ltd takes out the full calculated possible swing range there will be an estimated 8.16% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥4.64 (0.22%) than the support at ¥4.30 (7.13%), 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 Zhejiang Hailide New Material Co., Ltd stock A Buy?

Zhejiang Hailide New Material Co., Ltd holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 6.636 Strong Buy Candidate Upgraded

Predicted Opening Price for Zhejiang Hailide New Material Co., Ltd of Monday, May 20, 2024

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