Scienjoy Holding Corporation Stock Forecast

Scienjoy Holding Corporation stock downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on May 07, 2024)

SJ Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 9.09%. Further rise is indicated until a new top pivot has been found. Scienjoy Holding Corporation 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. The Scienjoy Holding Corporation 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 $0.96. On a fall, the stock will find some support from the short-term average at $0.84. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Scienjoy Holding Corporation stock

Scienjoy Holding Corporation finds support from accumulated volume at $0.84 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0501 between high and low, or 6.34%. For the last week, the stock has had daily average volatility of 10.82%.

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

Trading Expectations (SJ) For The Upcoming Trading Day Of Wednesday 8th

For the upcoming trading day on Wednesday, 8th we expect Scienjoy Holding Corporation to open at $0.82, and during the day (based on 14 day Average True Range), to move between $0.754 and $0.93, which gives a possible trading interval of +/-$0.0858 (+/-10.21%) up or down from last closing price. If Scienjoy Holding Corporation takes out the full calculated possible swing range there will be an estimated 20.43% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.84 (0.06%) than the support at $0.84 (0.60%), 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 Scienjoy Holding Corporation stock A Buy?

Scienjoy Holding Corporation 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 Hold/Accumulate to a Sell candidate.

Current score: -1.361 Sell Candidate Downgraded

Predicted Opening Price for Scienjoy Holding Corporation of Wednesday, May 8, 2024

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