Hesai Group Stock Forecast
Green day on Monday for Hesai Group
(Updated on May 20, 2024)
The Hesai Group stock price gained 2.14% on the last trading day (Monday, 20th May 2024), rising from $5.15 to $5.26. During the last trading day the stock fluctuated 7.64% from a day low at $5.17 to a day high of $5.57. The price has been going up and down for this period, and there has been a 3.75% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 307 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $7.75 million.
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 11.40% during the next 3 months and, with a 90% probability hold a price between $4.66 and $6.99 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. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $5.22 and $4.83. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Monday, May 13, 2024, and so far it has fallen -2.41%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Hesai Group stock
Hesai Group finds support from accumulated volume at $5.16 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 $0.395 between high and low, or 7.64%. For the last week, the stock has had daily average volatility of 7.35%.
Our recommended stop-loss: $5.06 (-3.79%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 21 days ago.)
Trading Expectations (HSAI) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Hesai Group to open at $5.33, and during the day (based on 14 day Average True Range), to move between $4.88 and $5.64, which gives a possible trading interval of +/-$0.376 (+/-7.15%) up or down from last closing price. If Hesai Group takes out the full calculated possible swing range there will be an estimated 14.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.16 (1.90%) than the resistance at $5.37 (2.09%), 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?
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 Hesai Group stock to perform well in the short-term.
Current score: 4.657 Buy Candidate Unchanged
Predicted Opening Price for Hesai Group of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $5.33 ( 1.36%) | $5.26 |
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 | 5.73 | 8.87 % | |
| R2 | 5.58 | 6.00 % | ||
| R1 | 5.48 | 4.23 % | ||
| Current price: | 5.26 | |||
| Support | S1 | 5.18 | -1.51 % | |
| S2 | 5.09 | -3.28 % | ||
| S3 | 4.94 | -6.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.76 | 9.51 % | |
| R2 | 5.46 | 3.80 % | ||
| R1 | 5.37 | 2.09 % | ||
| Current price | 5.26 | |||
| Support | S1 | 5.16 | -1.90% | |
| S2 | 5.06 | -3.80% | ||
| S3 | 4.90 | -6.84% |
FAQ
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