Jilin Province Huinan Changlong Stock Forecast

Weaker technical forecast for Jilin Province Huinan Changlong as stock downgraded to Sell Candidate.
(Updated on Jun 20, 2024)

8049.HK Signals & Forecast

There are few to no technical positive signals at the moment. The Jilin Province Huinan Changlong 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 HK$1.41 and HK$1.50. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 19, 2024, and so far it has fallen 0%. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Jilin Province Huinan Changlong stock

Jilin Province Huinan Changlong finds support from accumulated volume at HK$1.32 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved HK$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 2.65%

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

Trading Expectations (8049.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Jilin Province Huinan Changlong Bio-pharmacy Company Limited to open at HK$1.36, and during the day (based on 14 day Average True Range), to move between HK$1.32 and HK$1.40, which gives a possible trading interval of +/-HK$0.0423 (+/-3.11%) up or down from last closing price. If Jilin Province Huinan Changlong Bio-pharmacy Company Limited takes out the full calculated possible swing range there will be an estimated 6.22% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at HK$1.32 (2.94%) than the resistance at HK$1.52 (11.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Jilin Province Huinan Changlong Bio-pharmacy Company Limited stock A Buy?

Jilin Province Huinan Changlong holds several negative signals and is within a very wide and falling trend, so we believe 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: -3.035 Sell Candidate Downgraded

Predicted Opening Price for Jilin Province Huinan Changlong Bio-pharmacy Company Limited of Friday, June 21, 2024

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