Shenzhen Jasic Technology Co Ltd Stock Forecast

Shenzhen Jasic Technology Co Ltd stock downgraded from Strong Buy Candidate to Buy Candidate after Friday trading session.
(Updated on Apr 26, 2024)

300193.SZ Signals & Forecast

The Shenzhen Jasic Technology Co Ltd 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 ¥8.12 and ¥7.77. 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). 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 Thursday, April 25, 2024, and so far it has fallen -1.33%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Friday, July 28, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Shenzhen Jasic Technology Co Ltd stock

Shenzhen Jasic Technology Co Ltd finds support from accumulated volume at ¥8.05 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 ¥0.280 between high and low, or 3.48%. For the last week, the stock has had daily average volatility of 2.81%.

Our recommended stop-loss: ¥7.91 (-3.30%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (300193.SZ) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Shenzhen Jasic Technology Co Ltd to open at ¥8.19, and during the day (based on 14 day Average True Range), to move between ¥7.87 and ¥8.49, which gives a possible trading interval of +/-¥0.312 (+/-3.81%) up or down from last closing price. If Shenzhen Jasic Technology Co Ltd takes out the full calculated possible swing range there will be an estimated 7.62% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥8.29 (1.34%) than the support at ¥8.05 (1.59%), 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 Shenzhen Jasic Technology Co Ltd 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 Shenzhen Jasic Technology Co Ltd stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 1.855 Buy Candidate Downgraded

Predicted Opening Price for Shenzhen Jasic Technology Co Ltd of Monday, April 29, 2024

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