BlueFocus Intelligent Communications Stock Forecast

Stronger technical forecast for BlueFocus Intelligent Communications stock price after Thursday trading.
(Updated on Apr 25, 2024)

300058.SZ Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 5.23%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The BlueFocus Intelligent Communications 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 ¥6.96. On a fall, the stock will find some support from the short-term average at ¥6.21. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for BlueFocus Intelligent Communications stock

On the downside, the stock finds support just below today's level from accumulated volume at ¥5.87 and ¥5.86. 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, BlueFocus Intelligent Communications finds support just below today's level at ¥5.87. If this is broken, then the next support from accumulated volume will be at ¥5.86 and ¥5.29.

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 ¥0.160 between high and low, or 2.60%. For the last week, the stock has had daily average volatility of 4.64%.

Our recommended stop-loss: ¥5.93 (-4.90%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 7 days ago.)

Trading Expectations (300058.SZ) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect BlueFocus Intelligent Communications Group Co., Ltd. to open at ¥6.23, and during the day (based on 14 day Average True Range), to move between ¥5.85 and ¥6.63, which gives a possible trading interval of +/-¥0.395 (+/-6.32%) up or down from last closing price. If BlueFocus Intelligent Communications Group Co., Ltd. takes out the full calculated possible swing range there will be an estimated 12.64% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥5.87 (5.93%) than the resistance at ¥7.14 (14.42%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is BlueFocus Intelligent Communications Group Co., Ltd. stock A Buy?

BlueFocus Intelligent Communications holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.847 Hold/Accumulate Upgraded

Predicted Opening Price for BlueFocus Intelligent Communications Group Co., Ltd. of Friday, April 26, 2024

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