Chengdu ALD Aviation Manufacturing Corp Stock Forecast

Stronger technical forecast for Chengdu ALD Aviation Manufacturing Corp stock price after Friday trading.
(Updated on May 17, 2024)

300696.SZ Signals & Forecast

The Chengdu ALD Aviation Manufacturing Corp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ¥14.67 and ¥14.04. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Monday, April 22, 2024, and so far it has fallen -3.23%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Chengdu ALD Aviation Manufacturing Corp stock

Chengdu ALD Aviation Manufacturing Corp finds support from accumulated volume at ¥14.27 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 ¥0.95 between high and low, or 6.59%. For the last week, the stock has had daily average volatility of 8.51%.

Our recommended stop-loss: ¥14.37 (-4.16%) (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 (300696.SZ) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Chengdu ALD Aviation Manufacturing Corp to open at ¥14.93, and during the day (based on 14 day Average True Range), to move between ¥13.71 and ¥16.27, which gives a possible trading interval of +/-¥1.28 (+/-8.52%) up or down from last closing price. If Chengdu ALD Aviation Manufacturing Corp takes out the full calculated possible swing range there will be an estimated 17.04% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥15.06 (0.47%) than the support at ¥14.27 (4.80%), 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 Chengdu ALD Aviation Manufacturing Corp stock A Buy?

Chengdu ALD Aviation Manufacturing Corp holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 5.887 Strong Buy Candidate Upgraded

Predicted Opening Price for Chengdu ALD Aviation Manufacturing Corp of Monday, May 20, 2024

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