Jiangsu Baichuan High-Tech New Materials Stock Forecast

Big movements in Jiangsu Baichuan High-Tech New Materials stock price on Thursday moving 14.44% between high and low
(Updated on Jun 27, 2024)

002455.SZ Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Jiangsu Baichuan High-Tech New Materials 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 ¥10.01 and ¥11.10. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 27, 2024, and so far it has fallen -30.16%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Jiangsu Baichuan High-Tech New Materials stock

On the downside, the stock finds support just below today's level from accumulated volume at ¥7.96 and ¥7.55. 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, Jiangsu Baichuan High-Tech New Materials finds support just below today's level at ¥7.96. If this is broken, then the next support from accumulated volume will be at ¥7.55 and ¥7.48.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ¥1.30 between high and low, or 14.44%. For the last week, the stock has had daily average volatility of 8.31%.

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

Trading Expectations (002455.SZ) For The Upcoming Trading Day Of Friday 28th

For the upcoming trading day on Friday, 28th we expect Jiangsu Baichuan High-Tech New Materials Co., Ltd to open at ¥9.49, and during the day (based on 14 day Average True Range), to move between ¥7.92 and ¥10.42, which gives a possible trading interval of +/-¥1.25 (+/-13.59%) up or down from last closing price. If Jiangsu Baichuan High-Tech New Materials Co., Ltd takes out the full calculated possible swing range there will be an estimated 27.18% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥7.96 (13.20%) than the resistance at ¥10.67 (16.36%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Jiangsu Baichuan High-Tech New Materials Co., Ltd stock A Buy?

The Jiangsu Baichuan High-Tech New Materials stock holds several negative signals and despite the positive trend, we believe Jiangsu Baichuan High-Tech New Materials 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 Hold/Accumulate to a Sell candidate.

Current score: -2.847 Sell Candidate Downgraded

Predicted Opening Price for Jiangsu Baichuan High-Tech New Materials Co., Ltd of Friday, June 28, 2024

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