Shenzhen Kingsun Science & Tech Co Ltd Stock Forecast

Shenzhen Kingsun Science & Tech Co Ltd stock upgraded to Hold/Accumulate.
(Updated on Apr 24, 2024)

300235.SZ Signals & Forecast

Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Shenzhen Kingsun Science & Tech 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 ¥9.36. On a fall, the stock will find some support from the short-term average at ¥8.29. 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. A sell signal was issued from a pivot top point on Wednesday, March 20, 2024, and so far it has fallen -19.29%. 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).

Support, Risk & Stop-loss for Shenzhen Kingsun Science & Tech Co Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at ¥8.01 and ¥7.93. 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, Shenzhen Kingsun Science & Tech Co Ltd finds support just below today's level at ¥8.01. If this is broken, then the next support from accumulated volume will be at ¥7.93 and ¥6.93.

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 ¥0.350 between high and low, or 4.19%. For the last week, the stock has had daily average volatility of 6.25%.

Our recommended stop-loss: ¥8.28 (-4.86%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 23 days ago.)

Trading Expectations (300235.SZ) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Shenzhen Kingsun Science & Tech Co Ltd to open at ¥8.58, and during the day (based on 14 day Average True Range), to move between ¥8.02 and ¥9.38, which gives a possible trading interval of +/-¥0.680 (+/-7.81%) up or down from last closing price. If Shenzhen Kingsun Science & Tech Co Ltd takes out the full calculated possible swing range there will be an estimated 15.62% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥8.01 (7.93%) than the resistance at ¥9.85 (13.22%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Shenzhen Kingsun Science & Tech Co Ltd stock A Buy?

Shenzhen Kingsun Science & Tech Co Ltd holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.648 Hold/Accumulate Upgraded

Predicted Opening Price for Shenzhen Kingsun Science & Tech Co Ltd of Thursday, April 25, 2024

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