Guangzhou Tech-Long Packgng Mchnry CoLtd Stock Forecast

Guangzhou Tech-Long Packgng Mchnry CoLtd stock price up 2.70% on Friday
(Updated on Apr 26, 2024)

002209.SZ Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 13.43%. Further rise is indicated until a new top pivot has been found. 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. The Guangzhou Tech-Long Packgng Mchnry CoLtd 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 ¥8.85. On a fall, the stock will find some support from the short-term average at ¥7.98. 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).

Support, Risk & Stop-loss for Guangzhou Tech-Long Packgng Mchnry CoLtd stock

On the downside, the stock finds support just below today's level from accumulated volume at ¥6.57 and ¥6.40. 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, Guangzhou Tech-Long Packgng Mchnry CoLtd finds support just below today's level at ¥6.57. If this is broken, then the next support from accumulated volume will be at ¥6.40 and ¥6.31.

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 ¥0.430 between high and low, or 5.41%. For the last week, the stock has had daily average volatility of 4.47%.

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

Trading Expectations (002209.SZ) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Guangzhou Tech-Long Packgng Mchnry CoLtd to open at ¥8.23, and during the day (based on 14 day Average True Range), to move between ¥7.72 and ¥9.00, which gives a possible trading interval of +/-¥0.641 (+/-7.67%) up or down from last closing price. If Guangzhou Tech-Long Packgng Mchnry CoLtd takes out the full calculated possible swing range there will be an estimated 15.34% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥9.33 (11.60%) than the support at ¥6.57 (21.41%), 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 Guangzhou Tech-Long Packgng Mchnry CoLtd stock A Buy?

Guangzhou Tech-Long Packgng Mchnry CoLtd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -2.967 Sell Candidate Unchanged

Predicted Opening Price for Guangzhou Tech-Long Packgng Mchnry CoLtd of Monday, April 29, 2024

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