Zhejiang Chunhui Intelligent Control Stock Forecast

High volatility in Zhejiang Chunhui Intelligent Control stock price on Wednesday which ended trading at ¥10.66
(Updated on Jun 26, 2024)

300943.SZ Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 6.92%. Further rise is indicated until a new top pivot has been found. 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 Zhejiang Chunhui Intelligent Control stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ¥10.70 and ¥11.26. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Zhejiang Chunhui Intelligent Control stock

Zhejiang Chunhui Intelligent Control finds support from accumulated volume at ¥10.55 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 ¥1.01 between high and low, or 10.20%. For the last week, the stock has had daily average volatility of 7.82%.

Our recommended stop-loss: ¥10.06 (-5.65%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 16 days ago.)

Trading Expectations (300943.SZ) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Zhejiang Chunhui Intelligent Control Co., Ltd. to open at ¥10.49, and during the day (based on 14 day Average True Range), to move between ¥9.83 and ¥11.49, which gives a possible trading interval of +/-¥0.83 (+/-7.78%) up or down from last closing price. If Zhejiang Chunhui Intelligent Control Co., Ltd. takes out the full calculated possible swing range there will be an estimated 15.56% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥10.55 (1.03%) than the resistance at ¥11.62 (9.01%), 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 Chunhui Intelligent Control Co., Ltd. stock A Buy?

Zhejiang Chunhui Intelligent Control holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.384 Hold/Accumulate Upgraded

Predicted Opening Price for Zhejiang Chunhui Intelligent Control Co., Ltd. of Thursday, June 27, 2024

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