Kingenta Ecological Enginering Gp Co Ltd Stock Forecast

Big movements in Kingenta Ecological Enginering Gp Co Ltd stock price on Tuesday moving 13.43% between high and low
(Updated on Apr 30, 2024)

002470.SZ Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 12.12%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Kingenta Ecological Enginering Gp 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 ¥1.49. On a fall, the stock will find some support from the short-term average at ¥1.38. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Wednesday, April 03, 2024 and based on theory for this formation the price should fall by -3.38% to ¥1.43 within 13 trading days since signal was issued (Monday, May 06, 2024).

Support, Risk & Stop-loss for Kingenta Ecological Enginering Gp Co Ltd stock

Kingenta Ecological Enginering Gp Co Ltd finds support from accumulated volume at ¥1.46 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 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 ¥0.180 between high and low, or 13.43%. For the last week, the stock has had daily average volatility of 5.23%.

Our recommended stop-loss: ¥1.42 (-4.14%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 10 days ago.)

Trading Expectations (002470.SZ) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Kingenta Ecological Enginering Gp Co Ltd to open at ¥1.45, and during the day (based on 14 day Average True Range), to move between ¥1.39 and ¥1.57, which gives a possible trading interval of +/-¥0.0913 (+/-6.17%) up or down from last closing price. If Kingenta Ecological Enginering Gp Co Ltd takes out the full calculated possible swing range there will be an estimated 12.34% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥1.50 (1.35%) than the support at ¥1.46 (1.35%), 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 Kingenta Ecological Enginering Gp Co Ltd stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Kingenta Ecological Enginering Gp Co Ltd stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.651 Buy Candidate Upgraded

Predicted Opening Price for Kingenta Ecological Enginering Gp Co Ltd of Monday, May 6, 2024

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