Meihua International Medical Stock Forecast

Meihua International Medical stock price took a fall of -7.47% on Friday
(Updated on Jun 14, 2024)

MHUA Signals & Forecast

The Meihua International Medical stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.735. On a fall, the stock will find some support from the long-term average at approximately $0.705. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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, June 13, 2024, and so far it has fallen -7.47%. Further fall is indicated until a new bottom pivot has been found. 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. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Meihua International Medical stock

Meihua International Medical finds support from accumulated volume at $0.689 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0576 between high and low, or 8.08%. For the last week the stock has had daily average volatility of 11.36%.

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

Trading Expectations (MHUA) For The Upcoming Trading Day Of Monday 17th

For the upcoming trading day on Monday, 17th we expect Meihua International Medical Technologies Co., Ltd. to open at $0.732, and during the day (based on 14 day Average True Range), to move between $0.651 and $0.774, which gives a possible trading interval of +/-$0.0612 (+/-8.59%) up or down from last closing price. If Meihua International Medical Technologies Co., Ltd. takes out the full calculated possible swing range there will be an estimated 17.18% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.730 (2.46%) than the support at $0.689 (3.30%), 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 Meihua International Medical Technologies Co., Ltd. stock A Buy?

Meihua International Medical holds several negative signals and we believe that 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 Buy to a Sell candidate.

Current score: -1.874 Sell Candidate Downgraded

Predicted Opening Price for Meihua International Medical Technologies Co., Ltd. of Monday, June 17, 2024

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