Zhejiang Windey Co Ltd Stock Forecast

Zhejiang Windey Co Ltd stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Apr 25, 2024)

300772.SZ Signals & Forecast

The Zhejiang Windey 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 ¥9.29 and ¥9.29. 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). 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 Tuesday, April 02, 2024, and so far it has fallen -2.48%. Further fall is indicated until a new bottom pivot has been found. 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 Zhejiang Windey Co Ltd stock

Zhejiang Windey Co Ltd finds support from accumulated volume at ¥9.30 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 ¥0.230 between high and low, or 2.46%. For the last week, the stock has had daily average volatility of 3.60%.

Our recommended stop-loss: ¥9.03 (-4.23%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 15 days ago.)

Trading Expectations (300772.SZ) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Zhejiang Windey Co Ltd to open at ¥9.45, and during the day (based on 14 day Average True Range), to move between ¥8.97 and ¥9.89, which gives a possible trading interval of +/-¥0.458 (+/-4.85%) up or down from last closing price. If Zhejiang Windey Co Ltd takes out the full calculated possible swing range there will be an estimated 9.71% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥9.30 (1.38%) than the resistance at ¥9.56 (1.38%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Zhejiang Windey Co Ltd stock A Buy?

Zhejiang Windey 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.665 Hold/Accumulate Upgraded

Predicted Opening Price for Zhejiang Windey Co Ltd of Friday, April 26, 2024

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