HengFeng Information Technology Co Ltd Stock Forecast

HengFeng Information Technology Co Ltd stock downgraded to Sell Candidate
(Updated on Apr 30, 2024)

300605.SZ Signals & Forecast

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 HengFeng Information Technology 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 ¥10.49. On a fall, the stock will find some support from the short-term average at ¥9.70. 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 Thursday, March 21, 2024, and so far it has fallen -14.39%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for HengFeng Information Technology Co Ltd stock

HengFeng Information Technology Co Ltd finds support from accumulated volume at ¥10.06 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 ¥0.770 between high and low, or 7.91%. For the last week, the stock has had daily average volatility of 10.15%.

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

Trading Expectations (300605.SZ) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect HengFeng Information Technology Co Ltd to open at ¥10.16, and during the day (based on 14 day Average True Range), to move between ¥9.26 and ¥11.20, which gives a possible trading interval of +/-¥0.97 (+/-9.43%) up or down from last closing price. If HengFeng Information Technology Co Ltd takes out the full calculated possible swing range there will be an estimated 18.87% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥10.06 (1.66%) than the resistance at ¥11.01 (7.62%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is HengFeng Information Technology Co Ltd stock A Buy?

HengFeng Information Technology Co Ltd 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -2.401 Sell Candidate Downgraded

Predicted Opening Price for HengFeng Information Technology Co Ltd of Monday, May 6, 2024

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