Chongqing Zhifei Biological Prdct Co Ltd Stock Forecast

Big movements in Chongqing Zhifei Biological Prdct Co Ltd stock price on Tuesday moving 20.94% between high and low
(Updated on Apr 23, 2024)

300122.SZ Signals & Forecast

There are few to no technical positive signals at the moment. The Chongqing Zhifei Biological Prdct Co Ltd 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 ¥40.41 and ¥46.72. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 12, 2024, and so far it has fallen -34.80%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Tuesday, March 12, 2024 with a target of ¥48.59. Despite whether the objective of the signal formation has been reached the stock may continue to fall.

Support, Risk & Stop-loss for Chongqing Zhifei Biological Prdct Co Ltd stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ¥7.13 between high and low, or 20.94%. For the last week, the stock has had daily average volatility of 6.54%.

Chongqing Zhifei Biological Prdct Co Ltd is oversold on RSI14 (14). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

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

Trading Expectations (300122.SZ) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect Chongqing Zhifei Biological Prdct Co Ltd to open at ¥36.87, and during the day (based on 14 day Average True Range), to move between ¥33.01 and ¥37.77, which gives a possible trading interval of +/-¥2.38 (+/-6.73%) up or down from last closing price. If Chongqing Zhifei Biological Prdct Co Ltd takes out the full calculated possible swing range there will be an estimated 13.46% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ ¥40.94, some ¥5.55 (15.68%) from the current price of ¥35.39, our system finds the risk reward not very attractive.

Is Chongqing Zhifei Biological Prdct Co Ltd stock A Buy?

Chongqing Zhifei Biological Prdct Co Ltd holds several negative signals and is within a very wide and 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.

Current score: -7.074 Strong Sell Candidate Downgraded

Predicted Opening Price for Chongqing Zhifei Biological Prdct Co Ltd of Wednesday, April 24, 2024

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