Shineco, Inc. Stock Forecast
Shineco, Inc. stock upgraded to Buy Candidate.
(Updated on Apr 25, 2024)
The Shineco, Inc. stock price gained 4.26% on the last trading day (Thursday, 25th Apr 2024), rising from $0.767 to $0.80. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.26% from a day low at $0.760 to a day high of $0.80. The price has risen in 7 of the last 10 days and is up by 16.48% over the past 2 weeks. Volume fell on the last day by -29 thousand shares and in total, 25 thousand shares were bought and sold for approximately $20.01 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 $0.382 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 14.86% during the next 3 months and, with a 90% probability hold a price between $0.438 and $2.92 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SISI Signals & Forecast
The Shineco, 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 $0.732 and $0.788. 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). 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 Tuesday, February 20, 2024, and so far it has fallen -65.22%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Shineco, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.718 and $0.712. 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, Shineco, Inc. finds support just below today's level at $0.718. If this is broken, then the next support from accumulated volume will be at $0.712 and $0.692.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0400 between high and low, or 5.26%. For the last week the stock has had daily average volatility of 9.90%.
Our recommended stop-loss: $0.758 (-5.20%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 46 days ago.)
Trading Expectations (SISI) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Shineco, Inc. to open at $0.787, and during the day (based on 14 day Average True Range), to move between $0.721 and $0.88, which gives a possible trading interval of +/-$0.0791 (+/-9.88%) up or down from last closing price. If Shineco, Inc. takes out the full calculated possible swing range there will be an estimated 19.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.81 (0.65%) than the support at $0.718 (10.31%), 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 Shineco, 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 Shineco, Inc. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.216 Buy Candidate Upgraded
Predicted Opening Price for Shineco, Inc. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $0.787 ( 1.67%) | $0.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SISI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.83 | 3.33 % | |
| R2 | 0.81 | 1.42 % | ||
| R1 | 0.80 | 0.243 % | ||
| Current price: | 0.80 | |||
| Support | S1 | 0.771 | -3.58 % | |
| S2 | 0.762 | -4.76 % | ||
| S3 | 0.747 | -6.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.86 | 7.50 % | |
| R2 | 0.86 | 7.26 % | ||
| R1 | 0.81 | 0.650 % | ||
| Current price | 0.80 | |||
| Support | S1 | 0.718 | -10.31% | |
| S2 | 0.712 | -10.99% | ||
| S3 | 0.692 | -13.50% |
FAQ
Click here for our free guide on how to buy Shineco, Inc. Stock.
