Beijing Lier High Temperatr Mtrls Co Ltd Stock Forecast

Beijing Lier High Temperatr Mtrls Co Ltd stock downgraded from Buy Candidate to Sell Candidate after Thursday trading session.
(Updated on May 30, 2024)

002392.SZ Signals & Forecast

There are few to no technical positive signals at the moment. The Beijing Lier High Temperatr Mtrls Co Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ¥3.70 and ¥3.65. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -7.87%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Thursday, April 25, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Beijing Lier High Temperatr Mtrls Co Ltd stock

Beijing Lier High Temperatr Mtrls Co Ltd finds support from accumulated volume at ¥3.61 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ¥0.0800 (2.22%) between high and low. For the last week, the stock has had daily average volatility of 2.79%.

Beijing Lier High Temperatr Mtrls Co Ltd is oversold on RSI14 (24). 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 (002392.SZ) For The Upcoming Trading Day Of Friday 31st

For the upcoming trading day on Friday, 31st we expect Beijing Lier High Temperatr Mtrls Co Ltd to open at ¥3.64, and during the day (based on 14 day Average True Range), to move between ¥3.49 and ¥3.77, which gives a possible trading interval of +/-¥0.141 (+/-3.89%) up or down from last closing price. If Beijing Lier High Temperatr Mtrls Co Ltd takes out the full calculated possible swing range there will be an estimated 7.77% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥3.61 (0.55%) than the resistance at ¥3.76 (3.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Beijing Lier High Temperatr Mtrls Co Ltd stock A Buy?

The Beijing Lier High Temperatr Mtrls Co Ltd stock holds several negative signals and despite the positive trend, we believe Beijing Lier High Temperatr Mtrls Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. 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 Sell candidate.

Current score: -3.863 Sell Candidate Downgraded

Predicted Opening Price for Beijing Lier High Temperatr Mtrls Co Ltd of Friday, May 31, 2024

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