Zhengzhou Coal Mining Machinery Group Co Stock Forecast

Zhengzhou Coal Mining Machinery Group Co stock price ended at HK$13.54 on Friday, after gaining 0.445%.
(Updated on May 17, 2024)

0564.HK Signals & Forecast

The Zhengzhou Coal Mining Machinery Group Co 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 HK$13.57. On a fall, the stock will find some support from the long-term average at approximately HK$11.92. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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, May 13, 2024, and so far it has fallen -3.97%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Zhengzhou Coal Mining Machinery Group Co stock

Zhengzhou Coal Mining Machinery Group Co finds support from accumulated volume at HK$12.92 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 HK$0.480 between high and low, or 3.64%. For the last week, the stock has had daily average volatility of 4.33%.

Our recommended stop-loss: HK$12.93 (-4.49%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)

Trading Expectations (0564.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Zhengzhou Coal Mining Machinery Group Company Limited to open at HK$13.46, and during the day (based on 14 day Average True Range), to move between HK$12.96 and HK$14.12, which gives a possible trading interval of +/-HK$0.576 (+/-4.25%) up or down from last closing price. If Zhengzhou Coal Mining Machinery Group Company Limited takes out the full calculated possible swing range there will be an estimated 8.50% 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$13.74 (1.48%) than the support at HK$12.92 (4.58%), 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 Zhengzhou Coal Mining Machinery Group Company Limited 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 Zhengzhou Coal Mining Machinery Group Co stock to perform well in the short-term.

Current score: 2.328 Buy Candidate Unchanged

Predicted Opening Price for Zhengzhou Coal Mining Machinery Group Company Limited of Monday, May 20, 2024

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