Xiamen Hexing Packaging Printing Co Ltd Stock Forecast

Green day on Tuesday for Xiamen Hexing Packaging Printing Co Ltd stock after gaining 2.21%
(Updated on Apr 30, 2024)

002228.SZ Signals & Forecast

The Xiamen Hexing Packaging Printing Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥2.60 and ¥2.73. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 13.52%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Xiamen Hexing Packaging Printing Co Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at ¥2.60 and ¥2.57. 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, Xiamen Hexing Packaging Printing Co Ltd finds support just below today's level at ¥2.60. If this is broken, then the next support from accumulated volume will be at ¥2.57 and ¥2.34.

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 ¥0.210 between high and low, or 8.17%. For the last week, the stock has had daily average volatility of 4.39%.

Since the Xiamen Hexing Packaging Printing Co Ltd has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.

Our recommended stop-loss: ¥2.66 (-4.02%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 10 days ago.)

Trading Expectations (002228.SZ) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Xiamen Hexing Packaging Printing Co Ltd to open at ¥2.71, and during the day (based on 14 day Average True Range), to move between ¥2.63 and ¥2.91, which gives a possible trading interval of +/-¥0.137 (+/-4.94%) up or down from last closing price. If Xiamen Hexing Packaging Printing Co Ltd takes out the full calculated possible swing range there will be an estimated 9.87% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥2.80 (1.08%) than the support at ¥2.60 (6.14%), 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 Xiamen Hexing Packaging Printing Co Ltd stock A Buy?

Xiamen Hexing Packaging Printing Co Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.099 Hold/Accumulate Unchanged

Predicted Opening Price for Xiamen Hexing Packaging Printing Co Ltd of Monday, May 6, 2024

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