Dajin Heavy Industry Corporation Stock Forecast

Red day on Wednesday for Dajin Heavy Industry Corporation
(Updated on May 08, 2024)

002487.SZ Signals & Forecast

The Dajin Heavy Industry Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥20.79 and ¥21.31. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -1.41%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Dajin Heavy Industry Corporation stock

Dajin Heavy Industry Corporation finds support from accumulated volume at ¥21.18 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ¥0.560 between high and low, or 2.60%. For the last week, the stock has had daily average volatility of 7.23%.

Our recommended stop-loss: ¥20.73 (-4.38%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (002487.SZ) For The Upcoming Trading Day Of Thursday 9th

For the upcoming trading day on Thursday, 9th we expect Dajin Heavy Industry Corporation to open at ¥21.75, and during the day (based on 14 day Average True Range), to move between ¥20.52 and ¥22.84, which gives a possible trading interval of +/-¥1.16 (+/-5.37%) up or down from last closing price. If Dajin Heavy Industry Corporation takes out the full calculated possible swing range there will be an estimated 10.74% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥21.18 (2.31%) than the resistance at ¥22.98 (6.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Dajin Heavy Industry Corporation stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.

Current score: 1.553 Buy Candidate Unchanged

Predicted Opening Price for Dajin Heavy Industry Corporation of Thursday, May 9, 2024

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