Yangzhou Guangling District Taihe Rural Stock Forecast

Yangzhou Guangling District Taihe Rural stock downgraded to Sell Candidate
(Updated on Jul 02, 2024)

1915.HK Signals & Forecast

There are few to no technical positive signals at the moment. The Yangzhou Guangling District Taihe Rural stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$0.550 and HK$0.549. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 25, 2024, and so far it has fallen -7.02%. 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 fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Tuesday, June 25, 2024 with a target of HK$0.544. Despite whether the objective of the signal formation has been reached the stock may continue to fall.

Support, Risk & Stop-loss for Yangzhou Guangling District Taihe Rural stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.500 and HK$0.475. 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, Yangzhou Guangling District Taihe Rural finds support just below today's level at HK$0.500. If this is broken, then the next support from accumulated volume will be at HK$0.475 and HK$0.455.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0200 between high and low, or 3.92%. For the last week the stock has had daily average volatility of 3.82%.

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

Trading Expectations (1915.HK) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Yangzhou Guangling District Taihe Rural Micro-finance Company Limited to open at HK$0.523, and during the day (based on 14 day Average True Range), to move between HK$0.499 and HK$0.561, which gives a possible trading interval of +/-HK$0.0309 (+/-5.84%) up or down from last closing price. If Yangzhou Guangling District Taihe Rural Micro-finance Company Limited takes out the full calculated possible swing range there will be an estimated 11.67% 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$0.550 (3.77%) than the support at HK$0.500 (5.66%), 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 Yangzhou Guangling District Taihe Rural Micro-finance Company Limited stock A Buy?

The Yangzhou Guangling District Taihe Rural stock holds several negative signals and despite the positive trend, we believe Yangzhou Guangling District Taihe Rural will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -3.969 Sell Candidate Downgraded

Predicted Opening Price for Yangzhou Guangling District Taihe Rural Micro-finance Company Limited of Wednesday, July 3, 2024

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