ZHEJIANG AISHIDA ELECTRIC CO., LTD. Stock Forecast

ZHEJIANG AISHIDA ELECTRIC CO., LTD. stock price up 3.97% on Monday
(Updated on May 06, 2024)

002403.SZ Signals & Forecast

Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. 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 ZHEJIANG AISHIDA ELECTRIC CO., LTD. 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 ¥8.44. On a fall, the stock will find some support from the short-term average at ¥7.43. 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. A sell signal was issued from a pivot top point on Friday, March 01, 2024, and so far it has fallen -18.33%. 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 ZHEJIANG AISHIDA ELECTRIC CO., LTD. stock

On the downside, the stock finds support just below today's level from accumulated volume at ¥7.31 and ¥7.29. 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, ZHEJIANG AISHIDA ELECTRIC CO., LTD. finds support just below today's level at ¥7.31. If this is broken, then the next support from accumulated volume will be at ¥7.29 and ¥7.04.

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 ¥0.540 between high and low, or 7.11%. For the last week, the stock has had daily average volatility of 6.97%.

Since the ZHEJIANG AISHIDA ELECTRIC CO., LTD. has been rising for 7 days in a row, the risk over the next couple of days has increased.

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

Trading Expectations (002403.SZ) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect ZHEJIANG AISHIDA ELECTRIC CO., LTD. to open at ¥7.95, and during the day (based on 14 day Average True Range), to move between ¥7.35 and ¥8.87, which gives a possible trading interval of +/-¥0.763 (+/-9.41%) up or down from last closing price. If ZHEJIANG AISHIDA ELECTRIC CO., LTD. takes out the full calculated possible swing range there will be an estimated 18.82% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥8.21 (1.23%) than the support at ¥7.31 (9.86%), 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 ZHEJIANG AISHIDA ELECTRIC CO., LTD. stock A Buy?

The ZHEJIANG AISHIDA ELECTRIC CO., LTD. stock holds several negative signals and despite the positive trend, we believe ZHEJIANG AISHIDA ELECTRIC CO., LTD. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -1.820 Sell Candidate Unchanged

Predicted Opening Price for ZHEJIANG AISHIDA ELECTRIC CO., LTD. of Tuesday, May 7, 2024

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