KONKA GRP/Shs B Vtg 1.00 Stock Forecast

Evaluation of KONKA GRP/Shs B Vtg 1.00 stock downgraded after the last trading session.
(Updated on May 21, 2024)

200016.SZ Signals & Forecast

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. The KONKA GRP/Shs B Vtg 1.00 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 ¥0.660 and ¥0.740. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -26.74%. 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.

Support, Risk & Stop-loss for KONKA GRP/Shs B Vtg 1.00 stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 ¥0.0300 between high and low, or 4.84%. For the last week the stock has had daily average volatility of 5.63%.

KONKA GRP/Shs B Vtg 1.00 is oversold on RSI14 (15). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

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

Trading Expectations (200016.SZ) For The Upcoming Trading Day Of Wednesday 22nd

For the upcoming trading day on Wednesday, 22nd we expect KONKA GRP/Shs B Vtg 1.00 to open at ¥0.633, and during the day (based on 14 day Average True Range), to move between ¥0.601 and ¥0.659, which gives a possible trading interval of +/-¥0.0288 (+/-4.57%) up or down from last closing price. If KONKA GRP/Shs B Vtg 1.00 takes out the full calculated possible swing range there will be an estimated 9.14% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ ¥0.660, some ¥0.0300 (4.76%) from the current price of ¥0.630, our system finds the risk reward not very attractive.

Is KONKA GRP/Shs B Vtg 1.00 stock A Buy?

KONKA GRP/Shs B Vtg 1.00 holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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 Sell to a Strong Sell candidate.

Current score: -5.209 Strong Sell Candidate Downgraded

Predicted Opening Price for KONKA GRP/Shs B Vtg 1.00 of Wednesday, May 22, 2024

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