Senmiao Technology Ltd. Stock Forecast
Volatile ride for Senmiao Technology Ltd. stock price on Thursday moving between $0.80 and $0.96
(Updated on Apr 18, 2024)
The Senmiao Technology Ltd. stock price gained 11.11% on the last trading day (Thursday, 18th Apr 2024), rising from $0.81 to $0.90. During the last trading day the stock fluctuated 20.00% from a day low at $0.80 to a day high of $0.96. The price has fallen in 6 of the last 10 days but is still up by 3.6% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 thousand more shares were traded than the day before. In total, 5 thousand shares were bought and sold for approximately $4.31 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 51.82% during the next 3 months and, with a 90% probability hold a price between $1.17 and $1.84 at the end of this 3-month period.
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AIHS Signals & Forecast
There are mixed signals in the stock today. The Senmiao Technology Ltd. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.93. On a fall, the stock will find some support from the short-term average at $0.791. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, March 08, 2024, and so far it has fallen -12.20%. 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). Senmiao Technology Ltd. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Senmiao Technology Ltd. stock
Senmiao Technology Ltd. finds support from accumulated volume at $0.87 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 $0.160 between high and low, or 20.00%. For the last week, the stock has had daily average volatility of 9.38%.
Our recommended stop-loss: $0.85 (-5.95%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 28 days ago.)
Trading Expectations (AIHS) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Senmiao Technology Ltd. to open at $0.89, and during the day (based on 14 day Average True Range), to move between $0.83 and $0.97, which gives a possible trading interval of +/-$0.0709 (+/-7.87%) up or down from last closing price. If Senmiao Technology Ltd. takes out the full calculated possible swing range there will be an estimated 15.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.93 (3.33%) than the support at $0.87 (3.47%), 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 Senmiao Technology Ltd. stock A Buy?
Senmiao Technology Ltd. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: -0.778 Hold/Accumulate Upgraded
Predicted Opening Price for Senmiao Technology Ltd. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $0.89 ( 1.48%) | $0.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AIHS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.05 | 16.30 % | |
| R2 | 0.99 | 9.51 % | ||
| R1 | 0.95 | 5.31 % | ||
| Current price: | 0.90 | |||
| Support | S1 | 0.83 | -8.27 % | |
| S2 | 0.788 | -12.47 % | ||
| S3 | 0.727 | -19.26 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.02 | 13.33 % | |
| R2 | 1.01 | 12.22 % | ||
| R1 | 0.93 | 3.33 % | ||
| Current price | 0.90 | |||
| Support | S1 | 0.87 | -3.47% | |
| S2 | 0.790 | -12.19% | ||
| S3 | 0.785 | -12.78% |
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