Zhejiang grandwall electric Stock Forecast

Red day on Monday for Zhejiang grandwall electric stock after losing 4.72%
(Updated on Jun 24, 2024)

603897.SS Signals & Forecast

There are few to no technical positive signals at the moment. The Zhejiang grandwall electric 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 $18.12 and $20.03. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 29, 2024, and so far it has fallen -22.06%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Zhejiang grandwall electric stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 $0.87 between high and low, or 5.09%. For the last week, the stock has had daily average volatility of 3.11%.

Zhejiang grandwall electric is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

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

Trading Expectations (603897.SS) For The Upcoming Trading Day Of Tuesday 25th

For the upcoming trading day on Tuesday, 25th we expect Zhejiang grandwall electric science&technology co.,ltd. to open at $17.40, and during the day (based on 14 day Average True Range), to move between $16.48 and $17.80, which gives a possible trading interval of +/-$0.658 (+/-3.84%) up or down from last closing price. If Zhejiang grandwall electric science&technology co.,ltd. takes out the full calculated possible swing range there will be an estimated 7.68% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $18.75, some $1.61 (9.39%) from the current price of $17.14, our system finds the risk reward not very attractive.

Is Zhejiang grandwall electric science&technology co.,ltd. stock A Buy?

The Zhejiang grandwall electric stock holds several negative signals and despite the positive trend, we believe Zhejiang grandwall electric will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.856 Sell Candidate Unchanged

Predicted Opening Price for Zhejiang grandwall electric science&technology co.,ltd. of Tuesday, June 25, 2024

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