Hangzhou DPtech Techs Co Ltd Stock Forecast

Hangzhou DPtech Techs Co Ltd stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Jul 02, 2024)

300768.SZ Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 6.42%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Hangzhou DPtech Techs Co Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ¥12.32. On a fall, the stock will find some support from the short-term average at ¥11.70. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss for Hangzhou DPtech Techs Co Ltd stock

Hangzhou DPtech Techs Co Ltd finds support from accumulated volume at ¥11.77 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ¥0.380 between high and low, or 3.26%. For the last week, the stock has had daily average volatility of 5.47%.

Our recommended stop-loss: ¥11.46 (-4.06%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 39 days ago.)

Trading Expectations (300768.SZ) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Hangzhou DPtech Techs Co Ltd to open at ¥11.89, and during the day (based on 14 day Average True Range), to move between ¥11.31 and ¥12.57, which gives a possible trading interval of +/-¥0.632 (+/-5.30%) up or down from last closing price. If Hangzhou DPtech Techs Co Ltd takes out the full calculated possible swing range there will be an estimated 10.59% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥11.77 (1.42%) than the resistance at ¥13.13 (9.97%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Hangzhou DPtech Techs 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 Hangzhou DPtech Techs Co Ltd stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.828 Buy Candidate Upgraded

Predicted Opening Price for Hangzhou DPtech Techs Co Ltd of Wednesday, July 3, 2024

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