Shandong Yulong Gold Co., Ltd. Stock Forecast

Shandong Yulong Gold Co., Ltd. stock upgraded from Buy Candidate to Strong Buy Candidate after Friday trading session.
(Updated on Jun 21, 2024)

601028.SS Signals & Forecast

The Shandong Yulong Gold 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 $13.16 and $12.07. 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). 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. A sell signal was issued from a pivot top point on Friday, June 07, 2024, and so far it has fallen -2.91%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Tuesday, May 07, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Shandong Yulong Gold Co., Ltd. stock

Shandong Yulong Gold Co., Ltd. finds support from accumulated volume at $13.24 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 $0.750 between high and low, or 5.60%. For the last week, the stock has had daily average volatility of 4.80%.

Our recommended stop-loss: $13.02 (-4.81%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 39 days ago.)

Trading Expectations (601028.SS) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect Shandong Yulong Gold Co., Ltd. to open at $13.74, and during the day (based on 14 day Average True Range), to move between $12.93 and $14.43, which gives a possible trading interval of +/-$0.746 (+/-5.45%) up or down from last closing price. If Shandong Yulong Gold Co., Ltd. takes out the full calculated possible swing range there will be an estimated 10.91% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $14.06 (2.78%) than the support at $13.24 (3.22%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Shandong Yulong Gold Co., Ltd. stock A Buy?

Shandong Yulong Gold Co., Ltd. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 5.981 Strong Buy Candidate Upgraded

Predicted Opening Price for Shandong Yulong Gold Co., Ltd. of Monday, June 24, 2024

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