GUJING DISTILLE/Shs B Vtg 1.00 Stock Forecast

GUJING DISTILLE/Shs B Vtg 1.00 stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 17, 2024)

200596.SZ Signals & Forecast

The GUJING DISTILLE/Shs B Vtg 1.00 stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ¥128.49 and ¥115.58. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Wednesday, May 08, 2024, and so far it has fallen -0.661%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for GUJING DISTILLE/Shs B Vtg 1.00 stock

GUJING DISTILLE/Shs B Vtg 1.00 finds support from accumulated volume at ¥128.48 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ¥1.55 between high and low, or 1.21%. For the last week, the stock has had daily average volatility of 2.28%.

The GUJING DISTILLE/Shs B Vtg 1.00 stock is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the stock is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: ¥125.14 (-3.11%) (This stock has high daily movements and this gives high risk. The RSI14 is 78 and this increases the risk substantially. There is a sell signal from a pivot top found 7 days ago.)

Trading Expectations (200596.SZ) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect GUJING DISTILLE/Shs B Vtg 1.00 to open at ¥129.20, and during the day (based on 14 day Average True Range), to move between ¥124.69 and ¥133.63, which gives a possible trading interval of +/-¥4.47 (+/-3.46%) up or down from last closing price. If GUJING DISTILLE/Shs B Vtg 1.00 takes out the full calculated possible swing range there will be an estimated 6.92% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥129.20 (0.03%) than the support at ¥128.48 (0.53%), 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 GUJING DISTILLE/Shs B Vtg 1.00 stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for GUJING DISTILLE/Shs B Vtg 1.00 stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 3.621 Buy Candidate Upgraded

Predicted Opening Price for GUJING DISTILLE/Shs B Vtg 1.00 of Monday, May 20, 2024

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