Shenzhen MinDe Electronics Technology Stock Forecast

Big movements in Shenzhen MinDe Electronics Technology stock price on Friday moving 11.52% between high and low
(Updated on Jun 28, 2024)

300656.SZ Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 6.23%. 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 Shenzhen MinDe Electronics Technology 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 ¥19.87 and ¥19.90. 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 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 Shenzhen MinDe Electronics Technology stock

Shenzhen MinDe Electronics Technology finds support from accumulated volume at ¥19.09 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 ¥2.21 between high and low, or 11.52%. For the last week, the stock has had daily average volatility of 12.95%.

Our recommended stop-loss: ¥18.66 (-5.71%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 14 days ago.)

Trading Expectations (300656.SZ) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Shenzhen MinDe Electronics Technology Ltd. to open at ¥20.13, and during the day (based on 14 day Average True Range), to move between ¥17.15 and ¥22.43, which gives a possible trading interval of +/-¥2.64 (+/-13.34%) up or down from last closing price. If Shenzhen MinDe Electronics Technology Ltd. takes out the full calculated possible swing range there will be an estimated 26.68% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥19.09 (3.54%) than the resistance at ¥21.90 (10.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Shenzhen MinDe Electronics Technology Ltd. stock A Buy?

Shenzhen MinDe Electronics Technology holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.495 Hold/Accumulate Unchanged

Predicted Opening Price for Shenzhen MinDe Electronics Technology Ltd. of Monday, July 1, 2024

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