Yatsen Holding Limited Stock Forecast
Yatsen Holding Limited stock price up 3.94% on Wednesday
(Updated on Mar 27, 2024)
The Yatsen Holding Limited stock price gained 3.94% on the last trading day (Wednesday, 27th Mar 2024), rising from $2.03 to $2.11. During the last trading day the stock fluctuated 7.54% from a day low at $1.99 to a day high of $2.14. The price has fallen in 7 of the last 10 days but is still up by 257.02% over the past 2 weeks. Volume fell on the last day by -130 thousand shares and in total, 397 thousand shares were bought and sold for approximately $838.18 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 upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $2.37 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 50.18% during the next 3 months and, with a 90% probability hold a price between $0.89 and $3.56 at the end of this 3-month period.
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YSG Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, March 18, 2024, and so far it has fallen -7.46%. 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 also not. The Yatsen Holding Limited 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 $2.12. On a fall, the stock will find some support from the long-term average at approximately $0.92. 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).
Support, Risk & Stop-loss for Yatsen Holding Limited stock
Yatsen Holding Limited finds support from accumulated volume at $2.08 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 periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.150 between high and low, or 7.54%. For the last week the stock has had daily average volatility of 5.68%.
The Yatsen Holding Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $2.01 (-4.74%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 85 and this increases the risk substantially. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (YSG) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Yatsen Holding Limited to open at $2.08, and during the day (based on 14 day Average True Range), to move between $1.94 and $2.28, which gives a possible trading interval of +/-$0.168 (+/-7.96%) up or down from last closing price. If Yatsen Holding Limited takes out the full calculated possible swing range there will be an estimated 15.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.13 (0.95%) than the support at $2.08 (1.42%), 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 Yatsen Holding Limited stock A Buy?
Yatsen Holding Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.770 Hold/Accumulate Unchanged
Predicted Opening Price for Yatsen Holding Limited of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$2.08 ( 1.42%) | $2.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for YSG
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.23 | 5.69 % | |
R2 | 2.17 | 2.97 % | ||
R1 | 2.14 | 1.29 % | ||
Current price: | 2.11 | |||
Support | S1 | 2.02 | -4.14 % | |
S2 | 1.99 | -5.82 % | ||
S3 | 1.93 | -8.53 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.28 | 8.06 % | |
R2 | 2.15 | 1.90 % | ||
R1 | 2.13 | 0.95 % | ||
Current price | 2.11 | |||
Support | S1 | 2.08 | -1.42% | |
S2 | 2.03 | -3.79% | ||
S3 | 0 | . |
FAQ
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