Datasea Inc. Stock Forecast

Datasea Inc. stock price down 0.244% on Monday
(Updated on Apr 29, 2024)

DTSS Signals & Forecast

The Datasea Inc. 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 $7.69 and $7.97. A breakdown below any of these levels will issue sell signals. 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 Thursday, February 15, 2024, and so far it has fallen -16.80%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for Datasea Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $7.57 and $7.45. 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, Datasea Inc. finds support just below today's level at $7.57. If this is broken, then the next support from accumulated volume will be at $7.45 and $7.10.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.330 between high and low, or 4.13%. For the last week the stock has had daily average volatility of 5.14%.

Our recommended stop-loss: $7.67 (-6.06%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 50 days ago.)

Trading Expectations (DTSS) For The Upcoming Trading Day Of Tuesday 30th

For the upcoming trading day on Tuesday, 30th we expect Datasea Inc. to open at $8.17, and during the day (based on 14 day Average True Range), to move between $7.43 and $8.91, which gives a possible trading interval of +/-$0.744 (+/-9.11%) up or down from last closing price. If Datasea Inc. takes out the full calculated possible swing range there will be an estimated 18.22% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $7.57 (7.34%) than the resistance at $8.98 (9.91%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Datasea Inc. 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 Datasea Inc. stock to perform well in the short-term.

Current score: 1.205 Buy Candidate Unchanged

Predicted Opening Price for Datasea Inc. of Tuesday, April 30, 2024

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