Guangdong Senssun Weighing Apprts Grp Stock Forecast

Guangdong Senssun Weighing Apprts Grp stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Apr 30, 2024)

002870.SZ Signals & Forecast

The Guangdong Senssun Weighing Apprts Grp 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 ¥32.69 and ¥32.69. 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). 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, March 18, 2024, and so far it has fallen -4.99%. Further fall is indicated until a new bottom pivot has been found. 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 Senssun Weighing Apprts Grp stock

Guangdong Senssun Weighing Apprts Grp finds support from accumulated volume at ¥33.20 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 ¥1.20 between high and low, or 3.59%. For the last week, the stock has had daily average volatility of 7.02%.

Our recommended stop-loss: ¥32.13 (-4.70%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 29 days ago.)

Trading Expectations (002870.SZ) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Guangdong Senssun Weighing Apprts Grp to open at ¥33.89, and during the day (based on 14 day Average True Range), to move between ¥31.99 and ¥35.43, which gives a possible trading interval of +/-¥1.72 (+/-5.11%) up or down from last closing price. If Guangdong Senssun Weighing Apprts Grp takes out the full calculated possible swing range there will be an estimated 10.23% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥34.00 (0.86%) than the support at ¥33.20 (1.51%), 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 Senssun Weighing Apprts Grp stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Guangdong Senssun Weighing Apprts Grp stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.176 Buy Candidate Upgraded

Predicted Opening Price for Guangdong Senssun Weighing Apprts Grp of Monday, May 6, 2024

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