Bingshan Refrigeration & Heat Transfer Stock Forecast

Red day on Monday for Bingshan Refrigeration & Heat Transfer stock after losing 0%
(Updated on Jun 17, 2024)

200530.SZ Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 0.725%. Further rise is indicated until a new top pivot has been found. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". Some negative signals were issued as well, and these may have some influence on the near short-term development. The Bingshan Refrigeration & Heat Transfer 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 ¥1.39 and ¥1.45. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Bingshan Refrigeration & Heat Transfer stock

Bingshan Refrigeration & Heat Transfer finds support from accumulated volume at ¥1.38 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ¥0.0300 (2.21%) between high and low. For the last week, the stock has had daily average volatility of 1.45%.

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

Trading Expectations (200530.SZ) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. to open at ¥1.38, and during the day (based on 14 day Average True Range), to move between ¥1.36 and ¥1.42, which gives a possible trading interval of +/-¥0.0286 (+/-2.06%) up or down from last closing price. If Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. takes out the full calculated possible swing range there will be an estimated 4.11% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥1.38 (0.72%) than the resistance at ¥1.48 (6.47%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. stock A Buy?

Bingshan Refrigeration & Heat Transfer holds several negative signals and is within a 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.

Current score: -2.830 Sell Candidate Unchanged

Predicted Opening Price for Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. of Tuesday, June 18, 2024

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