Shenzhen Huaqiang Industry Co., Ltd. Stock Forecast
Shenzhen Huaqiang Industry Co., Ltd. stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on May 08, 2024)
The Shenzhen Huaqiang Industry Co., Ltd. stock price fell by -1.22% on the last day (Wednesday, 8th May 2024) from ¥9.84 to ¥9.72. During the last trading day the stock fluctuated 1.86% from a day low at ¥9.66 to a day high of ¥9.84. The price has risen in 7 of the last 10 days and is up by 8.24% 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 -293 thousand shares and in total, 4 million shares were bought and sold for approximately ¥34.36 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 ¥9.83 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 -4.36% during the next 3 months and, with a 90% probability hold a price between ¥8.38 and ¥9.40 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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000062.SZ Signals & Forecast
The Shenzhen Huaqiang Industry Co., Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ¥9.63 and ¥9.56. 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 Tuesday, May 07, 2024, and so far it has fallen -1.22%. 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 Huaqiang Industry Co., Ltd. stock
Shenzhen Huaqiang Industry Co., Ltd. finds support from accumulated volume at ¥9.69 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 ¥0.180 between high and low, or 1.86%. For the last week, the stock has had daily average volatility of 3.50%.
Our recommended stop-loss: ¥9.31 (-4.26%) (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 (000062.SZ) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Shenzhen Huaqiang Industry Co., Ltd. to open at ¥9.74, and during the day (based on 14 day Average True Range), to move between ¥9.38 and ¥10.06, which gives a possible trading interval of +/-¥0.337 (+/-3.47%) up or down from last closing price. If Shenzhen Huaqiang Industry Co., Ltd. takes out the full calculated possible swing range there will be an estimated 6.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥9.69 (0.31%) than the resistance at ¥9.86 (1.44%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Shenzhen Huaqiang Industry Co., Ltd. will release earnings BMO on Wednesday, May 08, 2024. We will update the financials statements for Shenzhen Huaqiang Industry Co., Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.83% in the first trading day after earnings release.
Is Shenzhen Huaqiang Industry Co., Ltd. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.042 Buy Candidate Upgraded
Predicted Opening Price for Shenzhen Huaqiang Industry Co., Ltd. of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| ¥9.74 ( 0.206%) | ¥9.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000062.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.92 | 2.06 % | |
| R2 | 9.85 | 1.35 % | ||
| R1 | 9.81 | 0.91 % | ||
| Current price: | 9.72 | |||
| Support | S1 | 9.67 | -0.502 % | |
| S2 | 9.63 | -0.94 % | ||
| S3 | 9.56 | -1.65 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.07 | 3.60 % | |
| R2 | 9.96 | 2.47 % | ||
| R1 | 9.86 | 1.44 % | ||
| Current price | 9.72 | |||
| Support | S1 | 9.69 | -0.309% | |
| S2 | 9.53 | -1.95% | ||
| S3 | 9.20 | -5.35% |
000062 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 07, 2023 | Dec 07, 2023 | Dec 07, 2023 | ¥0 | 0% |
| 2 | Apr 27, 2023 | Apr 27, 2023 | Apr 27, 2023 | ¥0.300 | 2.40% |
| 3 | May 11, 2022 | May 11, 2022 | May 11, 2022 | ¥0.300 | 2.68% |
| 4 | Apr 23, 2021 | Apr 23, 2021 | Apr 23, 2021 | ¥0.200 | 1.54% |
| 5 | May 08, 2020 | May 08, 2020 | May 08, 2020 | ¥0.150 | 1.21% |
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