Anshan Hifichem Co Ltd Stock Forecast

Big movements in Anshan Hifichem Co Ltd stock price on Tuesday moving 51.69% between high and low
(Updated on May 07, 2024)

300758.SZ Signals & Forecast

The Anshan Hifichem Co Ltd 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 ¥10.87 and ¥9.29. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 67.83%. Further rise is indicated until a new top pivot has been found. 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. 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 Anshan Hifichem Co Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at ¥12.38. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at ¥ may give a huge drop in the stock price.

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 ¥5.06 between high and low, or 51.69%. For the last week, the stock has had daily average volatility of 22.56%.

The Anshan Hifichem Co Ltd stock is extremely overbought on RSI14 (85). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: ¥13.92 (-3.30%) (This stock has high daily movements and this gives high risk. The RSI14 is 85 and this increases the risk substantially. There is a buy signal from a pivot bottom found 13 days ago.)

Trading Expectations (300758.SZ) For The Upcoming Trading Day Of Wednesday 8th

For the upcoming trading day on Wednesday, 8th we expect Anshan Hifichem Co Ltd to open at ¥13.01, and during the day (based on 14 day Average True Range), to move between ¥13.01 and ¥15.79, which gives a possible trading interval of +/-¥1.39 (+/-9.64%) up or down from last closing price. If Anshan Hifichem Co Ltd takes out the full calculated possible swing range there will be an estimated 19.27% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ ¥12.38, some ¥2.02 (14.03%) from the current price of ¥14.40, our system finds the risk reward attractive.

Is Anshan Hifichem Co Ltd stock A Buy?

Anshan Hifichem Co Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Anshan Hifichem Co Ltd of Wednesday, May 8, 2024

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