China Sanjiang Fine Chemicals Co Ltd Stock Forecast

China Sanjiang Fine Chemicals Co Ltd stock price ended at HK$1.87 on Thursday, after losing 0%.
(Updated on May 02, 2024)

2198.HK Signals & Forecast

The China Sanjiang Fine Chemicals Co Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$1.91. On a fall, the stock will find some support from the long-term average at approximately HK$1.77. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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, April 24, 2024, and so far it has fallen -4.59%. 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".

Support, Risk & Stop-loss for China Sanjiang Fine Chemicals Co Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$1.70 and HK$1.65. 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, China Sanjiang Fine Chemicals Co Ltd finds support just below today's level at HK$1.70. If this is broken, then the next support from accumulated volume will be at HK$1.65 and HK$1.56.

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$0.0600 between high and low, or 3.31%. For the last week the stock has had daily average volatility of 2.26%.

Our recommended stop-loss: HK$1.77 (-5.48%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (2198.HK) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect China Sanjiang Fine Chemicals Company Limited to open at HK$1.85, and during the day (based on 14 day Average True Range), to move between HK$1.81 and HK$1.93, which gives a possible trading interval of +/-HK$0.0639 (+/-3.42%) up or down from last closing price. If China Sanjiang Fine Chemicals Company Limited takes out the full calculated possible swing range there will be an estimated 6.84% 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$1.90 (1.60%) than the support at HK$1.70 (9.09%), 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 China Sanjiang Fine Chemicals Company Limited 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 China Sanjiang Fine Chemicals Co Ltd stock to perform well in the short-term.

Current score: 2.813 Buy Candidate Unchanged

Predicted Opening Price for China Sanjiang Fine Chemicals Company Limited of Friday, May 3, 2024

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