Sany Heavy Equipment International Stock Forecast

Sany Heavy Equipment International stock price fell more than -5.85% Thursday closing at HK$4.99
(Updated on Jun 20, 2024)

0631.HK Signals & Forecast

There are few to no technical positive signals at the moment. The Sany Heavy Equipment International 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 HK$5.27 and HK$5.98. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -28.61%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Sany Heavy Equipment International stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$4.65 and HK$4.32. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Sany Heavy Equipment International finds support just below today's level at HK$4.65. If this is broken, then the next support from accumulated volume will be at HK$4.32 and HK$4.25.

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 HK$0.390 between high and low, or 7.91%. For the last week, the stock has had daily average volatility of 4.85%.

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

Trading Expectations (0631.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Sany Heavy Equipment International Holdings Company Limited to open at HK$5.08, and during the day (based on 14 day Average True Range), to move between HK$4.67 and HK$5.31, which gives a possible trading interval of +/-HK$0.322 (+/-6.45%) up or down from last closing price. If Sany Heavy Equipment International Holdings Company Limited takes out the full calculated possible swing range there will be an estimated 12.89% 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$5.00 (0.20%) than the support at HK$4.65 (6.81%), 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 Sany Heavy Equipment International Holdings Company Limited stock A Buy?

The Sany Heavy Equipment International stock holds several negative signals and despite the positive trend, we believe Sany Heavy Equipment International will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.795 Sell Candidate Unchanged

Predicted Opening Price for Sany Heavy Equipment International Holdings Company Limited of Friday, June 21, 2024

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