First Capital Securities Co Ltd Stock Forecast

Green day on Thursday for First Capital Securities Co Ltd
(Updated on May 09, 2024)

002797.SZ Signals & Forecast

The First Capital Securities Co Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ¥5.73. On a fall, the stock will find some support from the long-term average at approximately ¥5.46. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. 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 Monday, April 29, 2024, and so far it has fallen -4.05%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for First Capital Securities Co Ltd stock

First Capital Securities Co Ltd finds support from accumulated volume at ¥5.63 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 ¥0.210 between high and low, or 3.72%. For the last week, the stock has had daily average volatility of 4.48%.

Our recommended stop-loss: ¥5.41 (-4.80%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (002797.SZ) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect First Capital Securities Co Ltd to open at ¥5.73, and during the day (based on 14 day Average True Range), to move between ¥5.47 and ¥5.89, which gives a possible trading interval of +/-¥0.206 (+/-3.63%) up or down from last closing price. If First Capital Securities Co Ltd takes out the full calculated possible swing range there will be an estimated 7.26% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥5.70 (0.35%) than the support at ¥5.63 (0.88%), 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 First Capital Securities Co Ltd stock A Buy?

First Capital Securities Co Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.192 Hold/Accumulate Unchanged

Predicted Opening Price for First Capital Securities Co Ltd of Friday, May 10, 2024

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