Shenzhen Desay Battery Tech Co., Ltd. Stock Forecast
Shenzhen Desay Battery Tech Co., Ltd. stock price up 2.51% on Monday
(Updated on May 06, 2024)
The Shenzhen Desay Battery Tech Co., Ltd. stock price gained 2.51% on the last trading day (Monday, 6th May 2024), rising from ¥21.89 to ¥22.44. During the last trading day the stock fluctuated 1.94% from a day low at ¥22.15 to a day high of ¥22.58. The price has risen in 6 of the last 10 days and is up by 1.49% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 740 thousand more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately ¥102.75 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Shenzhen Desay Battery Tech Co., Ltd. stock with a 90% probability to be traded between ¥20.04 and ¥24.45 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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000049.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 11.48%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Shenzhen Desay Battery Tech Co., Ltd. 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 ¥22.98. On a fall, the stock will find some support from the short-term average at ¥21.56. 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 Shenzhen Desay Battery Tech Co., Ltd. stock
Shenzhen Desay Battery Tech Co., Ltd. finds support from accumulated volume at ¥22.11 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 ¥0.430 between high and low, or 1.94%. For the last week, the stock has had daily average volatility of 8.09%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000049.SZ) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Shenzhen Desay Battery Tech Co., Ltd. to open at ¥22.39, and during the day (based on 14 day Average True Range), to move between ¥21.08 and ¥23.80, which gives a possible trading interval of +/-¥1.36 (+/-6.08%) up or down from last closing price. If Shenzhen Desay Battery Tech Co., Ltd. takes out the full calculated possible swing range there will be an estimated 12.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥22.11 (1.47%) than the resistance at ¥22.78 (1.52%), 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 Desay Battery Tech Co., Ltd. stock A Buy?
Shenzhen Desay Battery Tech Co., Ltd. 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.
Current score: -3.962 Sell Candidate Unchanged
Predicted Opening Price for Shenzhen Desay Battery Tech Co., Ltd. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| ¥22.39 ( 0.223%) | ¥22.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000049.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.82 | 1.69 % | |
| R2 | 22.66 | 0.96 % | ||
| R1 | 22.55 | 0.509 % | ||
| Current price: | 22.44 | |||
| Support | S1 | 22.23 | -0.95 % | |
| S2 | 22.12 | -1.41 % | ||
| S3 | 21.96 | -2.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.49 | 9.14 % | |
| R2 | 24.18 | 7.75 % | ||
| R1 | 22.78 | 1.52 % | ||
| Current price | 22.44 | |||
| Support | S1 | 22.11 | -1.47% | |
| S2 | 20.70 | -7.75% | ||
| S3 | 20.13 | -10.29% |
000049 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2024 | May 09, 2024 | May 09, 2024 | ¥0.450 | 2.01% |
| 2 | Jun 07, 2023 | Jun 07, 2023 | Jun 07, 2023 | ¥0.650 | 1.89% |
| 3 | May 18, 2022 | May 18, 2022 | May 18, 2022 | ¥0.750 | 2.11% |
| 4 | May 11, 2021 | May 11, 2021 | May 11, 2021 | ¥0.690 | 1.48% |
| 5 | Jun 11, 2020 | Jun 11, 2020 | Jun 11, 2020 | ¥0.483 | 1.41% |
FAQ
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