Origin Agritech Limited Stock Forecast
Big movements in Origin Agritech Limited stock price on Friday moving 12.70% between high and low
(Updated on Apr 26, 2024)
The Origin Agritech Limited stock price gained 1.83% on the last trading day (Friday, 26th Apr 2024), rising from $3.28 to $3.34. During the last trading day the stock fluctuated 12.70% from a day low at $3.15 to a day high of $3.55. The price has been going up and down for this period, and there has been a 1.21% 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, 8 thousand more shares were traded than the day before. In total, 24 thousand shares were bought and sold for approximately $80.46 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $3.29 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 64.99% during the next 3 months and, with a 90% probability hold a price between $5.42 and $7.64 at the end of this 3-month period.
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SEED Signals & Forecast
There are mixed signals in the stock today. The Origin Agritech Limited 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 $3.40. On a fall, the stock will find some support from the short-term average at $3.32. 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 Thursday, March 28, 2024, and so far it has fallen -17.33%. 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). Origin Agritech Limited 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 Origin Agritech Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.10 and $3.04. 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, Origin Agritech Limited finds support just below today's level at $3.10. If this is broken, then the next support from accumulated volume will be at $3.04 and $2.93.
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 $0.400 between high and low, or 12.70%. For the last week, the stock has had daily average volatility of 9.38%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SEED) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Origin Agritech Limited to open at $3.35, and during the day (based on 14 day Average True Range), to move between $3.06 and $3.62, which gives a possible trading interval of +/-$0.284 (+/-8.50%) up or down from last closing price. If Origin Agritech Limited takes out the full calculated possible swing range there will be an estimated 17.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.40 (1.80%) than the support at $3.10 (7.19%), 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 Origin Agritech Limited stock A Buy?
Origin Agritech Limited 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.
Current score: -2.767 Sell Candidate Unchanged
Predicted Opening Price for Origin Agritech Limited of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$3.35 ( 0.199%) | $3.34 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SEED
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.75 | 12.17 % | |
R2 | 3.59 | 7.60 % | ||
R1 | 3.50 | 4.77 % | ||
Current price: | 3.34 | |||
Support | S1 | 3.19 | -4.38 % | |
S2 | 3.10 | -7.20 % | ||
S3 | 2.95 | -11.77 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.99 | 19.46 % | |
R2 | 3.78 | 13.17 % | ||
R1 | 3.40 | 1.80 % | ||
Current price | 3.34 | |||
Support | S1 | 3.10 | -7.19% | |
S2 | 3.04 | -8.98% | ||
S3 | 2.93 | -12.28% |
FAQ
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