Shanghai Kindly Mdcl Instrmnts CoLtd Stock Forecast

Shanghai Kindly Mdcl Instrmnts CoLtd stock upgraded to Hold/Accumulate.
(Updated on May 28, 2024)

1501.HK Signals & Forecast

There are mixed signals in the stock today. The Shanghai Kindly Mdcl Instrmnts CoLtd 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$27.61. On a fall, the stock will find some support from the short-term average at HK$27.54. 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 the price increased. This causes a divergence and may be considered as an early warning, but it may also not. A buy signal was issued from a pivot bottom point on Monday, May 27, 2024, and so far it has risen 1.85%. Further rise is indicated until a new top pivot has been found.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Thursday, April 18, 2024 and based on theory for this formation the price should go up by 3.31% to HK$28.51 within 23 trading days since signal was issued (Wednesday, May 29, 2024).

Support, Risk & Stop-loss for Shanghai Kindly Mdcl Instrmnts CoLtd stock

Shanghai Kindly Mdcl Instrmnts CoLtd finds support from accumulated volume at HK$27.55 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved HK$0.500 between high and low, or 1.85%. For the last week the stock has had daily average volatility of 1.47%

Our recommended stop-loss: HK$26.12 (-5.34%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)

Trading Expectations (1501.HK) For The Upcoming Trading Day Of Wednesday 29th

For the upcoming trading day on Wednesday, 29th we expect Shanghai Kindly Mdcl Instrmnts CoLtd to open at HK$27.43, and during the day (based on 14 day Average True Range), to move between HK$27.17 and HK$28.03, which gives a possible trading interval of +/-HK$0.429 (+/-1.55%) up or down from last closing price. If Shanghai Kindly Mdcl Instrmnts CoLtd takes out the full calculated possible swing range there will be an estimated 3.11% 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$27.65 (0.18%) than the support at HK$27.55 (0.18%), 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 Shanghai Kindly Mdcl Instrmnts CoLtd stock A Buy?

Shanghai Kindly Mdcl Instrmnts CoLtd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.526 Hold/Accumulate Upgraded

Predicted Opening Price for Shanghai Kindly Mdcl Instrmnts CoLtd of Wednesday, May 29, 2024

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