HANGZHOU ZHONGHENG ELECTRIC Co., Ltd. Stock Forecast

Evaluation of HANGZHOU ZHONGHENG ELECTRIC Co., Ltd. stock downgraded after the last trading session.
(Updated on May 31, 2024)

002364.SZ Signals & Forecast

The HANGZHOU ZHONGHENG ELECTRIC Co., Ltd. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ¥6.23. On a fall, the stock will find some support from the long-term average at approximately ¥6.05. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, May 13, 2024, and so far it has fallen -4.62%. 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). 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 HANGZHOU ZHONGHENG ELECTRIC Co., Ltd. stock

HANGZHOU ZHONGHENG ELECTRIC Co., Ltd. finds support from accumulated volume at ¥6.16 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ¥0.130 between high and low, or 2.13%. For the last week the stock has had daily average volatility of 4.44%.

Our recommended stop-loss: ¥5.89 (-4.97%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 29 days ago.)

Trading Expectations (002364.SZ) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect HANGZHOU ZHONGHENG ELECTRIC Co., Ltd. to open at ¥6.17, and during the day (based on 14 day Average True Range), to move between ¥5.92 and ¥6.48, which gives a possible trading interval of +/-¥0.279 (+/-4.50%) up or down from last closing price. If HANGZHOU ZHONGHENG ELECTRIC Co., Ltd. takes out the full calculated possible swing range there will be an estimated 9.00% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥6.16 (0.65%) than the resistance at ¥6.28 (1.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is HANGZHOU ZHONGHENG ELECTRIC Co., Ltd. stock A Buy?

HANGZHOU ZHONGHENG ELECTRIC Co., Ltd. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.900 Hold/Accumulate Downgraded

Predicted Opening Price for HANGZHOU ZHONGHENG ELECTRIC Co., Ltd. of Monday, June 3, 2024

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