Zhongliang Holdings Group Co Ltd Stock Forecast

Big movements in Zhongliang Holdings Group Co Ltd stock price on Thursday moving 15.89% between high and low
(Updated on Apr 25, 2024)

2772.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 7.59%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Zhongliang Holdings Group Co Ltd has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Zhongliang Holdings Group Co Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$0.210. On a fall, the stock will find some support from the short-term average at HK$0.168. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss for Zhongliang Holdings Group Co Ltd stock

Zhongliang Holdings Group Co Ltd finds support from accumulated volume at HK$0.167 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 HK$0.0240 between high and low, or 15.89%. For the last week, the stock has had daily average volatility of 13.97%.

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

Trading Expectations (2772.HK) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Zhongliang Holdings Group Co Ltd to open at HK$0.165, and during the day (based on 14 day Average True Range), to move between HK$0.146 and HK$0.194, which gives a possible trading interval of +/-HK$0.0237 (+/-13.93%) up or down from last closing price. If Zhongliang Holdings Group Co Ltd takes out the full calculated possible swing range there will be an estimated 27.87% 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$0.167 (1.76%) than the resistance at HK$0.176 (3.53%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Zhongliang Holdings Group Co Ltd stock A Buy?

Zhongliang Holdings Group Co Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -2.339 Sell Candidate Unchanged

Predicted Opening Price for Zhongliang Holdings Group Co Ltd of Friday, April 26, 2024

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