Zhibao Technology Inc. Class A Ordinary Stock Forecast
Volatile ride for Zhibao Technology Inc. Class A Ordinary stock price on Monday moving between $3.95 and $4.39
(Updated on Jun 17, 2024)
The Zhibao Technology Inc. Class A Ordinary stock price fell by -6.28% on the last day (Monday, 17th Jun 2024) from $4.30 to $4.03. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 11.14% from a day low at $3.95 to a day high of $4.39. The price has fallen in 7 of the last 10 days and is down by -9.03% for this period. Volume has increased on the last day by 4 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 6 thousand shares were bought and sold for approximately $24.20 thousand.
The stock lies in the lower part of a 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 $3.89 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 25.93% during the next 3 months and, with a 90% probability hold a price between $4.90 and $6.06 at the end of this 3-month period.
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ZBAO Signals & Forecast
The Zhibao Technology Inc. Class A Ordinary 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 $4.24. On a fall, the stock will find some support from the long-term average at approximately $3.92. 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). 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 Friday, May 31, 2024, and so far it has fallen -12.58%. Further fall is indicated until a new bottom pivot has been found. Zhibao Technology Inc. Class A Ordinary gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Zhibao Technology Inc. Class A Ordinary stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.70 and $3.57. 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, Zhibao Technology Inc. Class A Ordinary finds support just below today's level at $3.70. If this is broken, then the next support from accumulated volume will be at $3.57 and $3.30.
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 $0.440 between high and low, or 11.14%. For the last week, the stock has had daily average volatility of 11.11%.
Our recommended stop-loss: $3.91 (-2.92%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 20 days ago.)
Trading Expectations (ZBAO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Zhibao Technology Inc. Class A Ordinary Shares to open at $4.12, and during the day (based on 14 day Average True Range), to move between $3.64 and $4.42, which gives a possible trading interval of +/-$0.386 (+/-9.57%) up or down from last closing price. If Zhibao Technology Inc. Class A Ordinary Shares takes out the full calculated possible swing range there will be an estimated 19.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.08 (1.24%) than the support at $3.70 (8.19%), 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 Zhibao Technology Inc. Class A Ordinary Shares 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 Zhibao Technology Inc. Class A Ordinary stock to perform well in the short-term.
Current score: 1.768 Buy Candidate Unchanged
Predicted Opening Price for Zhibao Technology Inc. Class A Ordinary Shares of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $4.12 ( 2.32%) | $4.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZBAO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.56 | 13.23% |
| R2 | 4.40 | 9.06% |
| R1 | 4.29 | 6.49% |
| Price | 4.03 | |
| S1 | 3.96 | -1.85% |
| S2 | 3.85 | -4.43% |
| S3 | 3.68 | -8.60% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.61 | 14.39% |
| R2 | 4.35 | 7.82% |
| R1 | 4.08 | 1.24% |
| Price | 4.03 | |
| S1 | 3.70 | -8.19% |
| S2 | 3.57 | -11.41% |
| S3 | 3.30 | -18.11% |
FAQ
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