Shanxi Yongdong Chemistry Industry CoLtd Stock Forecast

Stronger technical forecast for Shanxi Yongdong Chemistry Industry CoLtd stock price after Friday trading.
(Updated on May 17, 2024)

002753.SZ Signals & Forecast

The Shanxi Yongdong Chemistry Industry CoLtd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ¥6.79 and ¥6.44. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 -1.58%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Shanxi Yongdong Chemistry Industry CoLtd stock

Shanxi Yongdong Chemistry Industry CoLtd finds support from accumulated volume at ¥6.81 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 ¥0.160 between high and low, or 2.38%. For the last week, the stock has had daily average volatility of 3.64%.

Our recommended stop-loss: ¥6.64 (-3.34%) (This stock has high daily movements and this gives high risk. The RSI14 is 77 and this increases the risk substantially. There is a sell signal from a pivot top found 8 days ago.)

Trading Expectations (002753.SZ) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Shanxi Yongdong Chemistry Industry CoLtd to open at ¥6.83, and during the day (based on 14 day Average True Range), to move between ¥6.48 and ¥7.26, which gives a possible trading interval of +/-¥0.389 (+/-5.67%) up or down from last closing price. If Shanxi Yongdong Chemistry Industry CoLtd takes out the full calculated possible swing range there will be an estimated 11.33% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥6.93 (0.87%) than the support at ¥6.81 (0.87%), 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 Shanxi Yongdong Chemistry Industry CoLtd stock A Buy?

Shanxi Yongdong Chemistry Industry CoLtd holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.

Current score: 5.868 Strong Buy Candidate Upgraded

Predicted Opening Price for Shanxi Yongdong Chemistry Industry CoLtd of Monday, May 20, 2024

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