Shenzhen Zhenye Group Co Ltd Stock Forecast
Big movements in Shenzhen Zhenye Group Co Ltd stock price on Tuesday moving 10.42% between high and low
(Updated on Apr 30, 2024)
The Shenzhen Zhenye Group Co Ltd stock price fell by -1.28% on the last day (Tuesday, 30th Apr 2024) from ¥3.92 to ¥3.87. During the last trading day the stock fluctuated 10.42% from a day low at ¥3.55 to a day high of ¥3.92. The price has risen in 6 of the last 10 days and is up by 10.89% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -18 million shares and in total, 21 million shares were bought and sold for approximately ¥81.86 million.
The stock lies the upper part of a wide and falling 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 ¥3.91 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -9.30% during the next 3 months and, with a 90% probability hold a price between ¥2.89 and ¥3.55 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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000006.SZ Signals & Forecast
The Shenzhen Zhenye Group Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥3.65 and ¥3.81. 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). 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 Monday, April 29, 2024, and so far it has fallen -1.28%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Shenzhen Zhenye Group Co Ltd stock
Shenzhen Zhenye Group Co Ltd finds support from accumulated volume at ¥3.85 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ¥0.370 between high and low, or 10.42%. For the last week, the stock has had daily average volatility of 6.88%.
Our recommended stop-loss: ¥3.70 (-4.46%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (000006.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Shenzhen Zhenye Group Co Ltd to open at ¥3.78, and during the day (based on 14 day Average True Range), to move between ¥3.67 and ¥4.07, which gives a possible trading interval of +/-¥0.203 (+/-5.26%) up or down from last closing price. If Shenzhen Zhenye Group Co Ltd takes out the full calculated possible swing range there will be an estimated 10.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥3.85 (0.52%) than the resistance at ¥3.93 (1.55%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Shenzhen Zhenye Group Co Ltd stock A Buy?
Shenzhen Zhenye Group Co Ltd 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.073 Hold/Accumulate Downgraded
Predicted Opening Price for Shenzhen Zhenye Group Co Ltd of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥3.78 ( 2.33%) | ¥3.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000006.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.15 | 7.24 % | |
| R2 | 4.01 | 3.58 % | ||
| R1 | 3.92 | 1.33 % | ||
| Current price: | 3.87 | |||
| Support | S1 | 3.64 | -5.98 % | |
| S2 | 3.55 | -8.23 % | ||
| S3 | 3.41 | -11.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.00 | 3.36 % | |
| R2 | 3.99 | 3.10 % | ||
| R1 | 3.93 | 1.55 % | ||
| Current price | 3.87 | |||
| Support | S1 | 3.85 | -0.517% | |
| S2 | 3.72 | -3.88% | ||
| S3 | 3.57 | -7.75% |
000006 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2023 | Jun 28, 2023 | Jun 28, 2023 | ¥0.0940 | 2.16% |
| 2 | Jun 21, 2022 | Jun 21, 2022 | Jun 21, 2022 | ¥0.121 | 2.80% |
| 3 | Jun 23, 2021 | Jun 23, 2021 | Jun 23, 2021 | ¥0.193 | 3.83% |
| 4 | Jun 18, 2020 | Jun 18, 2020 | Jun 18, 2020 | ¥0.179 | 2.95% |
| 5 | Jun 19, 2019 | Jun 19, 2019 | Jun 19, 2019 | ¥0.195 | 3.57% |
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