Shinelong Automotive Lightweight App Ltd Stock Forecast

Volatile ride for Shinelong Automotive Lightweight App Ltd stock price on Thursday moving between HK$0.265 and HK$0.320
(Updated on May 02, 2024)

1930.HK Signals & Forecast

The Shinelong Automotive Lightweight App Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$0.276 and HK$0.285. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Tuesday, April 30, 2024, and so far it has fallen -5.00%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Shinelong Automotive Lightweight App Ltd stock

Shinelong Automotive Lightweight App Ltd finds support from accumulated volume at HK$0.280 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved HK$0.0550 between high and low, or 20.75%. For the last week the stock has had daily average volatility of 27.61%.

Our recommended stop-loss: HK$0.268 (-5.90%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (1930.HK) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Shinelong Automotive Lightweight App Ltd to open at HK$0.290, and during the day (based on 14 day Average True Range), to move between HK$0.245 and HK$0.325, which gives a possible trading interval of +/-HK$0.0402 (+/-14.12%) up or down from last closing price. If Shinelong Automotive Lightweight App Ltd takes out the full calculated possible swing range there will be an estimated 28.24% 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$0.280 (1.75%) than the resistance at HK$0.295 (3.51%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Shinelong Automotive Lightweight App Ltd stock A Buy?

Shinelong Automotive Lightweight App Ltd 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.162 Hold/Accumulate Downgraded

Predicted Opening Price for Shinelong Automotive Lightweight App Ltd of Friday, May 3, 2024

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