Nanjing Hanrui Cobalt Co Ltd Stock Forecast

Nanjing Hanrui Cobalt Co Ltd stock price up 0.550% on Friday
(Updated on Apr 26, 2024)

300618.SZ Signals & Forecast

The Nanjing Hanrui Cobalt Co Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ¥29.98. On a fall, the stock will find some support from the long-term average at approximately ¥27.29. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -11.60%. 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). The stock had a Golden Star Signal on Thursday, March 07, 2024 in the short-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 Nanjing Hanrui Cobalt Co Ltd stock

Nanjing Hanrui Cobalt Co Ltd finds support from accumulated volume at ¥28.90 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 ¥2.08 between high and low, or 7.24%. For the last week, the stock has had daily average volatility of 7.98%.

Our recommended stop-loss: ¥27.78 (-5.07%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 16 days ago.)

Trading Expectations (300618.SZ) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Nanjing Hanrui Cobalt Co Ltd to open at ¥29.59, and during the day (based on 14 day Average True Range), to move between ¥26.28 and ¥32.24, which gives a possible trading interval of +/-¥2.98 (+/-10.20%) up or down from last closing price. If Nanjing Hanrui Cobalt Co Ltd takes out the full calculated possible swing range there will be an estimated 20.40% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥28.90 (1.23%) than the resistance at ¥31.71 (8.37%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Nanjing Hanrui Cobalt 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 Nanjing Hanrui Cobalt Co Ltd stock to perform well in the short-term.

Current score: 2.025 Buy Candidate Unchanged

Predicted Opening Price for Nanjing Hanrui Cobalt Co Ltd of Monday, April 29, 2024

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