Guangdong Chaohua Technology Co.,Ltd Stock Forecast

Red day on Wednesday for Guangdong Chaohua Technology Co.,Ltd
(Updated on Apr 24, 2024)

002288.SZ Signals & Forecast

The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Guangdong Chaohua Technology 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 ¥2.28 and ¥2.81. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 20, 2024, and so far it has fallen -30.75%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Guangdong Chaohua Technology Co.,Ltd stock

Guangdong Chaohua Technology Co.,Ltd finds support from accumulated volume at ¥2.14 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ¥0.130 between high and low, or 5.94%. For the last week, the stock has had daily average volatility of 12.62%.

Guangdong Chaohua Technology Co.,Ltd is oversold on RSI14 (15). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

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

Trading Expectations (002288.SZ) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Guangdong Chaohua Technology Co.,Ltd to open at ¥2.25, and during the day (based on 14 day Average True Range), to move between ¥1.96 and ¥2.50, which gives a possible trading interval of +/-¥0.265 (+/-11.88%) up or down from last closing price. If Guangdong Chaohua Technology Co.,Ltd takes out the full calculated possible swing range there will be an estimated 23.77% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥2.25 (0.90%) than the support at ¥2.14 (4.04%), 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 Guangdong Chaohua Technology Co.,Ltd stock A Buy?

Guangdong Chaohua Technology Co.,Ltd holds several negative signals and is within a very 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.

Current score: -6.708 Strong Sell Candidate Unchanged

Predicted Opening Price for Guangdong Chaohua Technology Co.,Ltd of Thursday, April 25, 2024

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