Malion New Materials Co., Ltd. Stock Forecast

Red day on Friday for Malion New Materials Co., Ltd.
(Updated on Jun 28, 2024)

300586.SZ Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 1.45%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Malion New Materials 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 ¥6.42 and ¥7.19. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.

Support, Risk & Stop-loss for Malion New Materials Co., Ltd. stock

Malion New Materials Co., Ltd. finds support from accumulated volume at ¥6.24 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 ¥0.440 between high and low, or 7.02%. For the last week, the stock has had daily average volatility of 8.17%.

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

Trading Expectations (300586.SZ) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Malion New Materials Co., Ltd. to open at ¥6.42, and during the day (based on 14 day Average True Range), to move between ¥5.75 and ¥6.83, which gives a possible trading interval of +/-¥0.539 (+/-8.57%) up or down from last closing price. If Malion New Materials Co., Ltd. takes out the full calculated possible swing range there will be an estimated 17.15% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥6.24 (0.79%) than the resistance at ¥6.70 (6.52%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Malion New Materials Co., Ltd. stock A Buy?

Malion New Materials 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.

Current score: -4.223 Sell Candidate Unchanged

Predicted Opening Price for Malion New Materials Co., Ltd. of Monday, July 1, 2024

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