Shenzhen Etmade Automatic Equipment Co., Stock Forecast

Shenzhen Etmade Automatic Equipment Co., stock downgraded to Sell Candidate
(Updated on Jun 28, 2024)

300812.SZ Signals & Forecast

There are mixed signals in the stock today. The Shenzhen Etmade Automatic Equipment Co., 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 ¥22.69. On a fall, the stock will find some support from the short-term average at ¥21.68. 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. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -11.20%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Shenzhen Etmade Automatic Equipment Co., stock

Shenzhen Etmade Automatic Equipment Co., finds support from accumulated volume at ¥20.98 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 ¥1.29 between high and low, or 6.03%. For the last week, the stock has had daily average volatility of 14.53%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (300812.SZ) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Shenzhen Etmade Automatic Equipment Co., Ltd. to open at ¥21.95, and during the day (based on 14 day Average True Range), to move between ¥19.95 and ¥23.67, which gives a possible trading interval of +/-¥1.86 (+/-8.54%) up or down from last closing price. If Shenzhen Etmade Automatic Equipment Co., Ltd. takes out the full calculated possible swing range there will be an estimated 17.07% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥20.98 (3.81%) than the resistance at ¥22.75 (4.31%), 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 Etmade Automatic Equipment Co., Ltd. stock A Buy?

Shenzhen Etmade Automatic Equipment Co., holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -4.814 Sell Candidate Downgraded

Predicted Opening Price for Shenzhen Etmade Automatic Equipment Co., Ltd. of Monday, July 1, 2024

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