Xinyi Solar Holdings Limited Stock Forecast

Green day on Wednesday for Xinyi Solar Holdings Limited
(Updated on Apr 24, 2024)

0968.HK Signals & Forecast

Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Xinyi Solar Holdings Limited 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$5.33 and HK$5.96. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -22.31%. 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).

Support, Risk & Stop-loss for Xinyi Solar Holdings Limited stock

Xinyi Solar Holdings Limited finds support from accumulated volume at HK$5.16 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 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$0.170 between high and low, or 3.35%. For the last week, the stock has had daily average volatility of 4.41%.

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

Trading Expectations (0968.HK) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Xinyi Solar Holdings Limited to open at HK$5.17, and during the day (based on 14 day Average True Range), to move between HK$4.86 and HK$5.52, which gives a possible trading interval of +/-HK$0.326 (+/-6.29%) up or down from last closing price. If Xinyi Solar Holdings Limited takes out the full calculated possible swing range there will be an estimated 12.57% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at HK$5.16 (0.58%) than the resistance at HK$5.40 (4.05%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Xinyi Solar Holdings Limited stock A Buy?

The Xinyi Solar Holdings Limited stock holds several negative signals and despite the positive trend, we believe Xinyi Solar Holdings Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -3.624 Sell Candidate Unchanged

Predicted Opening Price for Xinyi Solar Holdings Limited of Thursday, April 25, 2024

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