Hengkang Medical Group Co.,Ltd Stock Forecast

Hengkang Medical Group Co.,Ltd stock upgraded to Sell Candidate.
(Updated on Jun 25, 2024)

002219.SZ Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Hengkang Medical Group Co.,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 ¥1.99 and ¥2.24. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.

Support, Risk & Stop-loss for Hengkang Medical Group Co.,Ltd stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 ¥0.110 between high and low, or 5.91%. For the last week, the stock has had daily average volatility of 5.41%.

Hengkang Medical Group Co.,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 (002219.SZ) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Hengkang Medical Group Co.,Ltd to open at ¥1.90, and during the day (based on 14 day Average True Range), to move between ¥1.78 and ¥1.98, which gives a possible trading interval of +/-¥0.104 (+/-5.52%) up or down from last closing price. If Hengkang Medical Group Co.,Ltd takes out the full calculated possible swing range there will be an estimated 11.04% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ ¥2.07, some ¥0.190 (10.11%) from the current price of ¥1.88, our system finds the risk reward not very attractive.

Is Hengkang Medical Group Co.,Ltd stock A Buy?

Hengkang Medical Group Co.,Ltd holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.

Current score: -3.967 Sell Candidate Upgraded

Predicted Opening Price for Hengkang Medical Group Co.,Ltd of Wednesday, June 26, 2024

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