Hesai Group Stock Forecast
Hesai Group stock price up more than 7.96% on Monday
(Updated on Apr 29, 2024)
The Hesai Group stock price gained 7.96% on the last trading day (Monday, 29th Apr 2024), rising from $4.40 to $4.75. During the last trading day the stock fluctuated 4.40% from a day low at $4.55 to a day high of $4.75. The price has risen in 6 of the last 10 days and is up by 6.27% 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, 137 thousand more shares were traded than the day before. In total, 673 thousand shares were bought and sold for approximately $3.19 million.
The stock lies in the middle of a very wide and weak 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 7.14% during the next 3 months and, with a 90% probability hold a price between $4.18 and $6.41 at the end of this 3-month period.
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HSAI Signals & Forecast
The Hesai Group 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 $4.26 and $4.72. A breakdown below any of these levels will issue sell signals. 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, March 08, 2024, and so far it has fallen -17.62%. 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).
Support, Risk & Stop-loss for Hesai Group stock
Hesai Group finds support from accumulated volume at $4.67 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 $0.200 between high and low, or 4.40%. For the last week, the stock has had daily average volatility of 6.10%.
Our recommended stop-loss: $4.45 (-6.20%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 35 days ago.)
Trading Expectations (HSAI) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect Hesai Group to open at $4.68, and during the day (based on 14 day Average True Range), to move between $4.39 and $5.10, which gives a possible trading interval of +/-$0.353 (+/-7.44%) up or down from last closing price. If Hesai Group takes out the full calculated possible swing range there will be an estimated 14.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.67 (1.58%) than the resistance at $5.06 (6.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hesai Group stock A Buy?
Hesai Group 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: -0.685 Hold/Accumulate Upgraded
Predicted Opening Price for Hesai Group of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| $4.68 ( 1.33%) | $4.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HSAI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.88 | 2.88 % | |
| R2 | 4.81 | 1.27 % | ||
| R1 | 4.76 | 0.275 % | ||
| Current price: | 4.75 | |||
| Support | S1 | 4.61 | -2.94 % | |
| S2 | 4.56 | -3.94 % | ||
| S3 | 4.48 | -5.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.46 | 15.07 % | |
| R2 | 5.37 | 13.17 % | ||
| R1 | 5.06 | 6.64 % | ||
| Current price | 4.75 | |||
| Support | S1 | 4.67 | -1.58% | |
| S2 | 4.15 | -12.54% | ||
| S3 | 4.02 | -15.28% |
FAQ
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