Castech Inc Stock Forecast

Castech Inc stock price up 3.84% on Friday
(Updated on Apr 26, 2024)

002222.SZ Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 8.12%. Further rise is indicated until a new top pivot has been found. 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. The Castech Inc 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 ¥27.38. On a fall, the stock will find some support from the short-term average at ¥25.95. 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.

Support, Risk & Stop-loss for Castech Inc stock

On the downside, the stock finds support just below today's level from accumulated volume at ¥24.90 and ¥21.69. 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, Castech Inc finds support just below today's level at ¥24.90. If this is broken, then the next support from accumulated volume will be at ¥21.69 and ¥20.45.

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 ¥1.23 between high and low, or 4.80%. For the last week, the stock has had daily average volatility of 3.68%.

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

Trading Expectations (002222.SZ) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Castech Inc to open at ¥26.43, and during the day (based on 14 day Average True Range), to move between ¥25.42 and ¥28.12, which gives a possible trading interval of +/-¥1.35 (+/-5.04%) up or down from last closing price. If Castech Inc takes out the full calculated possible swing range there will be an estimated 10.08% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥27.15 (1.42%) than the support at ¥24.90 (6.99%), 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 Castech Inc stock A Buy?

Castech Inc 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: -1.061 Sell Candidate Unchanged

Predicted Opening Price for Castech Inc of Monday, April 29, 2024

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