Guangdong DaZhi Environmental Protection Stock Forecast

Volatile ride for Guangdong DaZhi Environmental Protection stock price on Wednesday moving between ¥15.66 and ¥17.25
(Updated on Jun 26, 2024)

300530.SZ Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 5.68%. 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). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Guangdong DaZhi Environmental Protection 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 ¥19.06. On a fall, the stock will find some support from the short-term average at ¥16.68. 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.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Thursday, June 06, 2024 and based on theory for this formation the price should go up by 79.60% to ¥30.07 within 34 trading days since signal was issued (Monday, July 29, 2024).

Support, Risk & Stop-loss for Guangdong DaZhi Environmental Protection stock

Guangdong DaZhi Environmental Protection finds support from accumulated volume at ¥16.42 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 ¥1.59 between high and low, or 10.15%. For the last week, the stock has had daily average volatility of 7.12%.

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

Trading Expectations (300530.SZ) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Guangdong DaZhi Environmental Protection Technology Incorporated Company to open at ¥16.55, and during the day (based on 14 day Average True Range), to move between ¥14.92 and ¥18.56, which gives a possible trading interval of +/-¥1.82 (+/-10.90%) up or down from last closing price. If Guangdong DaZhi Environmental Protection Technology Incorporated Company takes out the full calculated possible swing range there will be an estimated 21.80% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥16.89 (0.90%) than the support at ¥16.42 (1.91%), 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 Guangdong DaZhi Environmental Protection Technology Incorporated Company stock A Buy?

Guangdong DaZhi Environmental Protection 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: -2.508 Sell Candidate Unchanged

Predicted Opening Price for Guangdong DaZhi Environmental Protection Technology Incorporated Company of Thursday, June 27, 2024

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