Shineco, Inc. Stock Forecast
Shineco, Inc. stock price up more than 7.63% on Friday
(Updated on May 03, 2024)
The Shineco, Inc. stock price gained 7.63% on the last trading day (Friday, 3rd May 2024), rising from $0.771 to $0.83. During the last trading day the stock fluctuated 7.78% from a day low at $0.770 to a day high of $0.83. The price has risen in 7 of the last 10 days and is up by 19.93% 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, 5 thousand more shares were traded than the day before. In total, 14 thousand shares were bought and sold for approximately $11.69 thousand.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Shineco, Inc. stock with a 90% probability to be traded between $0.113 and $2.28 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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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. 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 $0.789 and $0.738. 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). Shineco, Inc. 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. 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 -63.92%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Shineco, Inc. stock
Shineco, Inc. finds support from accumulated volume at $0.81 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 $0.0599 between high and low, or 7.78%. For the last week, the stock has had daily average volatility of 10.00%.
Our recommended stop-loss: $0.783 (-5.62%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 52 days ago.)
Trading Expectations (SISI) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Shineco, Inc. to open at $0.81, and during the day (based on 14 day Average True Range), to move between $0.752 and $0.91, which gives a possible trading interval of +/-$0.0781 (+/-9.41%) up or down from last closing price. If Shineco, Inc. takes out the full calculated possible swing range there will be an estimated 18.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.81 (2.98%) than the resistance at $0.86 (3.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Shineco, Inc. will release earnings BMO on Friday, May 10, 2024. We will update the financials statements for Shineco, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 11.58% in the first trading day after earnings release.
Is Shineco, Inc. stock A Buy?
Several short-term signals 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 period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.699 Buy Candidate Upgraded
Predicted Opening Price for Shineco, Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.81 ( 2.41%) | $0.83 |
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 | 0.87 | 4.81 % | |
| R2 | 0.85 | 2.05 % | ||
| R1 | 0.83 | 0.351 % | ||
| Current price: | 0.83 | |||
| Support | S1 | 0.787 | -5.16 % | |
| S2 | 0.773 | -6.87 % | ||
| S3 | 0.750 | -9.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.03 | 24.11 % | |
| R2 | 0.86 | 3.63 % | ||
| R1 | 0.86 | 3.40 % | ||
| Current price | 0.83 | |||
| Support | S1 | 0.81 | -2.98% | |
| S2 | 0.718 | -13.54% | ||
| S3 | 0.712 | -14.19% |
FAQ
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