Huarui Electrical Appliance Co Ltd Stock Forecast

Big movements in Huarui Electrical Appliance Co Ltd stock price on Friday moving 23.29% between high and low
(Updated on Apr 19, 2024)

300626.SZ Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 9.30%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Huarui Electrical Appliance 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 ¥6.53 and ¥7.37. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Huarui Electrical Appliance Co Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at ¥5.43 and ¥5.34. 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, Huarui Electrical Appliance Co Ltd finds support just below today's level at ¥5.43. If this is broken, then the next support from accumulated volume will be at ¥5.34 and ¥4.76.

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 ¥1.40 between high and low, or 23.29%. For the last week, the stock has had daily average volatility of 24.86%.

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

Trading Expectations (300626.SZ) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Huarui Electrical Appliance Co Ltd to open at ¥6.51, and during the day (based on 14 day Average True Range), to move between ¥5.27 and ¥6.95, which gives a possible trading interval of +/-¥0.84 (+/-13.68%) up or down from last closing price. If Huarui Electrical Appliance Co Ltd takes out the full calculated possible swing range there will be an estimated 27.36% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥6.46 (5.73%) than the support at ¥5.43 (11.13%), 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 Huarui Electrical Appliance Co Ltd stock A Buy?

Huarui Electrical Appliance 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: -4.389 Sell Candidate Unchanged

Predicted Opening Price for Huarui Electrical Appliance Co Ltd of Monday, April 22, 2024

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