Shenzhen Ruihe Construction Decoration Stock Forecast

Red day on Wednesday for Shenzhen Ruihe Construction Decoration stock after losing 0%
(Updated on Apr 24, 2024)

002620.SZ Signals & Forecast

There are few to no technical positive signals at the moment. The Shenzhen Ruihe Construction Decoration 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 ¥3.65. On a fall, the stock will find some support from the short-term average at ¥2.97. 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 Wednesday, March 06, 2024, and so far it has fallen -26.04%. 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 fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.

Support, Risk & Stop-loss for Shenzhen Ruihe Construction Decoration stock

Shenzhen Ruihe Construction Decoration finds support from accumulated volume at ¥2.92 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 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 ¥0.220 between high and low, or 7.61%. For the last week, the stock has had daily average volatility of 16.84%.

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

Trading Expectations (002620.SZ) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Shenzhen Ruihe Construction Decoration to open at ¥3.00, and during the day (based on 14 day Average True Range), to move between ¥2.62 and ¥3.40, which gives a possible trading interval of +/-¥0.387 (+/-12.87%) up or down from last closing price. If Shenzhen Ruihe Construction Decoration takes out the full calculated possible swing range there will be an estimated 25.75% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥2.92 (2.99%) than the resistance at ¥3.36 (11.63%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Shenzhen Ruihe Construction Decoration stock A Buy?

Shenzhen Ruihe Construction Decoration holds several negative signals and is within a very 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.

Current score: -6.010 Strong Sell Candidate Unchanged

Predicted Opening Price for Shenzhen Ruihe Construction Decoration of Thursday, April 25, 2024

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