Guangdong Hoshion Aluminium Co Ltd Stock Forecast

Red day on Monday for Guangdong Hoshion Aluminium Co Ltd stock after losing 3.68%
(Updated on May 13, 2024)

002824.SZ Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 6.11%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Guangdong Hoshion Aluminium 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 ¥15.53 and ¥15.79. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Friday, March 08, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Guangdong Hoshion Aluminium Co Ltd stock

Guangdong Hoshion Aluminium Co Ltd finds support from accumulated volume at ¥14.70 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 ¥1.26 between high and low, or 8.55%. For the last week, the stock has had daily average volatility of 4.60%.

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

Trading Expectations (002824.SZ) For The Upcoming Trading Day Of Tuesday 14th

For the upcoming trading day on Tuesday, 14th we expect Guangdong Hoshion Aluminium Co Ltd to open at ¥15.22, and during the day (based on 14 day Average True Range), to move between ¥13.74 and ¥16.12, which gives a possible trading interval of +/-¥1.19 (+/-8.00%) up or down from last closing price. If Guangdong Hoshion Aluminium Co Ltd takes out the full calculated possible swing range there will be an estimated 16.00% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥14.70 (1.54%) than the resistance at ¥15.63 (4.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Guangdong Hoshion Aluminium Co Ltd stock A Buy?

The Guangdong Hoshion Aluminium Co Ltd stock holds several negative signals and despite the positive trend, we believe Guangdong Hoshion Aluminium Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -1.807 Sell Candidate Unchanged

Predicted Opening Price for Guangdong Hoshion Aluminium Co Ltd of Tuesday, May 14, 2024

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