Senmiao Technology Ltd. Stock Forecast
Senmiao Technology Ltd. stock price took a fall of -8.28% on Wednesday
(Updated on Apr 24, 2024)
The Senmiao Technology Ltd. stock price fell by -8.28% on the last day (Wednesday, 24th Apr 2024) from $0.90 to $0.82. During the last trading day the stock fluctuated 4.58% from a day low at $0.82 to a day high of $0.86. The price has fallen in 6 of the last 10 days but is still up by 3.55% over the past 2 weeks. Volume has increased on the last day by 2 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, 3 thousand shares were bought and sold for approximately $2.60 thousand.
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 $0.759 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 36.59% during the next 3 months and, with a 90% probability hold a price between $1.04 and $1.62 at the end of this 3-month period.
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AIHS Signals & Forecast
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. The Senmiao Technology Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.85 and $0.91. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 08, 2024, and so far it has fallen -19.78%. Further fall is indicated until a new bottom pivot has been found. Senmiao Technology Ltd. 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 Senmiao Technology Ltd. stock
Senmiao Technology Ltd. finds support from accumulated volume at $0.790 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 $0.0377 between high and low, or 4.58%. For the last week, the stock has had daily average volatility of 10.30%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AIHS) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Senmiao Technology Ltd. to open at $0.83, and during the day (based on 14 day Average True Range), to move between $0.748 and $0.90, which gives a possible trading interval of +/-$0.0744 (+/-9.04%) up or down from last closing price. If Senmiao Technology Ltd. takes out the full calculated possible swing range there will be an estimated 18.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.790 (3.89%) than the resistance at $0.93 (13.10%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Senmiao Technology Ltd. stock A Buy?
The Senmiao Technology Ltd. stock holds several negative signals and despite the positive trend, we believe Senmiao Technology Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.411 Sell Candidate Unchanged
Predicted Opening Price for Senmiao Technology Ltd. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $0.83 ( 1.53%) | $0.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AIHS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.87 | 6.11 % | |
| R2 | 0.86 | 4.36 % | ||
| R1 | 0.85 | 3.28 % | ||
| Current price: | 0.82 | |||
| Support | S1 | 0.82 | -0.223 % | |
| S2 | 0.81 | -1.31 % | ||
| S3 | 0.797 | -3.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.02 | 24.04 % | |
| R2 | 1.01 | 22.83 % | ||
| R1 | 0.93 | 13.10 % | ||
| Current price | 0.82 | |||
| Support | S1 | 0.790 | -3.89% | |
| S2 | 0.785 | -4.54% | ||
| S3 | 0.650 | -20.97% |
FAQ
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