Guangdong Kinlong Hardware Prdcts Co Ltd Stock Forecast

Guangdong Kinlong Hardware Prdcts Co Ltd stock downgraded to Sell Candidate
(Updated on Jun 17, 2024)

002791.SZ Signals & Forecast

There are few to no technical positive signals at the moment. The Guangdong Kinlong Hardware Prdcts 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 ¥34.04 and ¥35.88. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -21.76%. 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 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 Guangdong Kinlong Hardware Prdcts Co Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at ¥31.14 and ¥30.34. 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, Guangdong Kinlong Hardware Prdcts Co Ltd finds support just below today's level at ¥31.14. If this is broken, then the next support from accumulated volume will be at ¥30.34 and ¥30.06.

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 ¥1.02 between high and low, or 3.11%. For the last week, the stock has had daily average volatility of 7.56%.

Guangdong Kinlong Hardware Prdcts Co Ltd is oversold on RSI14 (15). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

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

Trading Expectations (002791.SZ) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Guangdong Kinlong Hardware Prdcts Co Ltd to open at ¥33.15, and during the day (based on 14 day Average True Range), to move between ¥30.33 and ¥35.55, which gives a possible trading interval of +/-¥2.61 (+/-7.93%) up or down from last closing price. If Guangdong Kinlong Hardware Prdcts Co Ltd takes out the full calculated possible swing range there will be an estimated 15.86% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥33.35 (1.24%) than the support at ¥31.14 (5.46%), 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 Guangdong Kinlong Hardware Prdcts Co Ltd stock A Buy?

The Guangdong Kinlong Hardware Prdcts Co Ltd stock holds several negative signals and despite the positive trend, we believe Guangdong Kinlong Hardware Prdcts Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we 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: -2.531 Sell Candidate Downgraded

Predicted Opening Price for Guangdong Kinlong Hardware Prdcts Co Ltd of Tuesday, June 18, 2024

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