Foshan Gas Group Co Ltd Stock Forecast

Red day on Friday for Foshan Gas Group Co Ltd stock after losing 0%
(Updated on May 10, 2024)

002911.SZ Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 29, 2024, and so far it has risen 3.79%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Foshan Gas Group Co Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ¥12.95. On a fall, the stock will find some support from the short-term average at ¥9.73. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.

Support, Risk & Stop-loss for Foshan Gas Group Co Ltd stock

Foshan Gas Group Co Ltd finds support from accumulated volume at ¥9.85 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ¥0.320 between high and low, or 3.32%. For the last week, the stock has had daily average volatility of 3.80%.

Foshan Gas Group 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 (002911.SZ) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Foshan Gas Group Co Ltd to open at ¥9.83, and during the day (based on 14 day Average True Range), to move between ¥9.26 and ¥10.48, which gives a possible trading interval of +/-¥0.607 (+/-6.15%) up or down from last closing price. If Foshan Gas Group Co Ltd takes out the full calculated possible swing range there will be an estimated 12.30% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥9.85 (0.20%) than the resistance at ¥12.16 (23.20%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Foshan Gas Group Co Ltd stock A Buy?

Foshan Gas Group Co Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -3.264 Sell Candidate Unchanged

Predicted Opening Price for Foshan Gas Group Co Ltd of Monday, May 13, 2024

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