Ife Elevators Co Ltd Stock Forecast

Red day on Tuesday for Ife Elevators Co Ltd stock after losing 1.44%
(Updated on May 28, 2024)

002774.SZ Signals & Forecast

There are few to no technical positive signals at the moment. The Ife Elevators Co Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ¥7.05 and ¥7.09. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -9.64%. 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 Ife Elevators Co Ltd stock

Ife Elevators Co Ltd finds support from accumulated volume at ¥6.73 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 ¥0.170 between high and low, or 2.49%. For the last week, the stock has had daily average volatility of 2.28%.

Our recommended stop-loss: ¥6.52 (-4.64%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 26 days ago.)

Trading Expectations (002774.SZ) For The Upcoming Trading Day Of Wednesday 29th

For the upcoming trading day on Wednesday, 29th we expect Ife Elevators Co Ltd to open at ¥6.89, and during the day (based on 14 day Average True Range), to move between ¥6.55 and ¥7.13, which gives a possible trading interval of +/-¥0.293 (+/-4.28%) up or down from last closing price. If Ife Elevators Co Ltd takes out the full calculated possible swing range there will be an estimated 8.56% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥6.73 (1.61%) than the resistance at ¥6.99 (2.19%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Ife Elevators Co Ltd stock A Buy?

Ife Elevators Co Ltd holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.222 Hold/Accumulate Unchanged

Predicted Opening Price for Ife Elevators Co Ltd of Wednesday, May 29, 2024

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