Henan Carve Electronics Technology Co., Stock Forecast

Big movements in Henan Carve Electronics Technology Co., stock price on Friday moving 34.18% between high and low
(Updated on Jun 28, 2024)

301182.SZ Signals & Forecast

Mostly positive signals in the chart today. The Henan Carve Electronics Technology Co., stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥18.92 and ¥19.30. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 53.60%. 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.

Support, Risk & Stop-loss for Henan Carve Electronics Technology Co., stock

On the downside, the stock finds support just below today's level from accumulated volume at ¥19.75 and ¥19.58. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Henan Carve Electronics Technology Co., finds support just below today's level at ¥19.75. If this is broken, then the next support from accumulated volume will be at ¥19.58 and ¥17.50.

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 ¥5.65 between high and low, or 34.18%. For the last week, the stock has had daily average volatility of 24.89%.

The Henan Carve Electronics Technology Co., stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: ¥21.42 (-3.44%) (This stock has high daily movements and this gives high risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from a pivot bottom found 18 days ago.)

Trading Expectations (301182.SZ) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Henan Carve Electronics Technology Co., Ltd. to open at ¥20.30, and during the day (based on 14 day Average True Range), to move between ¥19.76 and ¥24.60, which gives a possible trading interval of +/-¥2.42 (+/-10.89%) up or down from last closing price. If Henan Carve Electronics Technology Co., Ltd. takes out the full calculated possible swing range there will be an estimated 21.79% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ ¥19.75, some ¥2.43 (10.96%) from the current price of ¥22.18, our system finds the risk reward attractive.

Is Henan Carve Electronics Technology 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 Henan Carve Electronics Technology Co., stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 1.707 Buy Candidate Upgraded

Predicted Opening Price for Henan Carve Electronics Technology Co., Ltd. of Monday, July 1, 2024

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