Hunan Dakang Intrntnl Food & Agri Co Ltd Stock Forecast

Big movements in Hunan Dakang Intrntnl Food & Agri Co Ltd stock price on Tuesday moving 31.87% between high and low
(Updated on Apr 30, 2024)

002505.SZ Signals & Forecast

There are few to no technical positive signals at the moment. The Hunan Dakang Intrntnl Food & Agri 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 ¥1.17. On a fall, the stock will find some support from the short-term average at ¥1.00. 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 Monday, April 29, 2024, and so far it has fallen -1.82%. 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.

Support, Risk & Stop-loss for Hunan Dakang Intrntnl Food & Agri Co Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at ¥1.01 and ¥1.00. 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, Hunan Dakang Intrntnl Food & Agri Co Ltd finds support just below today's level at ¥1.01. If this is broken, then the next support from accumulated volume will be at ¥1.00 and ¥0.99.

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 ¥0.290 between high and low, or 31.87%. For the last week, the stock has had daily average volatility of 16.91%.

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

Trading Expectations (002505.SZ) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Hunan Dakang Intrntnl Food & Agri Co Ltd to open at ¥1.06, and during the day (based on 14 day Average True Range), to move between ¥0.97 and ¥1.19, which gives a possible trading interval of +/-¥0.114 (+/-10.58%) up or down from last closing price. If Hunan Dakang Intrntnl Food & Agri Co Ltd takes out the full calculated possible swing range there will be an estimated 21.16% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥1.01 (6.48%) than the resistance at ¥1.24 (14.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Hunan Dakang Intrntnl Food & Agri Co Ltd stock A Buy?

Hunan Dakang Intrntnl Food & Agri Co Ltd holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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: -4.615 Sell Candidate Downgraded

Predicted Opening Price for Hunan Dakang Intrntnl Food & Agri Co Ltd of Monday, May 6, 2024

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