Xinyang Maojian Group Ltd Stock Forecast

Xinyang Maojian Group Ltd stock price ended at HK$0.100 on Friday, after losing 0%.
(Updated on May 03, 2024)

0362.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 2.04%. Further rise is indicated until a new top pivot has been found. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". Some negative signals were issued as well, and these may have some influence on the near short-term development. The Xinyang Maojian Group 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 HK$0.102. On a fall, the stock will find some support from the short-term average at HK$0.0996. 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).

Support, Risk & Stop-loss for Xinyang Maojian Group Ltd stock

Xinyang Maojian Group Ltd finds support from accumulated volume at HK$0.0980 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.0050 (5.05%) between high and low. For the last week, the stock has had daily average volatility of 2.44%.

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

Trading Expectations (0362.HK) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Xinyang Maojian Group Ltd to open at HK$0.101, and during the day (based on 14 day Average True Range), to move between HK$0.0957 and HK$0.104, which gives a possible trading interval of +/-HK$0.0043 (+/-4.27%) up or down from last closing price. If Xinyang Maojian Group Ltd takes out the full calculated possible swing range there will be an estimated 8.54% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at HK$0.101 (1.00%) than the support at HK$0.0980 (2.00%), 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 Xinyang Maojian Group Ltd stock A Buy?

Xinyang Maojian Group 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: -1.455 Sell Candidate Unchanged

Predicted Opening Price for Xinyang Maojian Group Ltd of Monday, May 6, 2024

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