Shenzhen SDG Information Co., Ltd. Stock Forecast
Big movements in Shenzhen SDG Information Co., Ltd. stock price on Friday moving 11.30% between high and low
(Updated on Apr 19, 2024)
The Shenzhen SDG Information Co., Ltd. stock price fell by -2.61% on the last day (Friday, 19th Apr 2024) from ¥7.29 to ¥7.10. During the last trading day the stock fluctuated 11.30% from a day low at ¥7.08 to a day high of ¥7.88. The price has fallen in 7 of the last 10 days and is down by -16.27% for this period. 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 -5 million shares and in total, 26 million shares were bought and sold for approximately ¥181.13 million.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at ¥6.19 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Shenzhen SDG Information Co., Ltd. stock with a 90% probability to be traded between ¥6.09 and ¥11.22 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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000070.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Shenzhen SDG Information Co., 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 ¥7.42 and ¥8.68. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -27.85%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 SDG Information Co., Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥6.54 and ¥6.39. 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, Shenzhen SDG Information Co., Ltd. finds support just below today's level at ¥6.54. If this is broken, then the next support from accumulated volume will be at ¥6.39 and ¥6.35.
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 ¥0.800 between high and low, or 11.30%. For the last week, the stock has had daily average volatility of 11.97%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000070.SZ) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Shenzhen SDG Information Co., Ltd. to open at ¥7.35, and during the day (based on 14 day Average True Range), to move between ¥6.34 and ¥7.86, which gives a possible trading interval of +/-¥0.758 (+/-10.68%) up or down from last closing price. If Shenzhen SDG Information Co., Ltd. takes out the full calculated possible swing range there will be an estimated 21.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥7.27 (2.39%) than the support at ¥6.54 (7.89%), 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 Shenzhen SDG Information Co., Ltd. stock A Buy?
Shenzhen SDG Information Co., Ltd. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.979 Sell Candidate Unchanged
Predicted Opening Price for Shenzhen SDG Information Co., Ltd. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| ¥7.35 ( 3.57%) | ¥7.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000070.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.15 | 14.84 % | |
| R2 | 7.85 | 10.53 % | ||
| R1 | 7.66 | 7.87 % | ||
| Current price: | 7.10 | |||
| Support | S1 | 7.05 | -0.736 % | |
| S2 | 6.86 | -3.40 % | ||
| S3 | 6.55 | -7.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.85 | 24.65 % | |
| R2 | 7.64 | 7.61 % | ||
| R1 | 7.27 | 2.39 % | ||
| Current price | 7.10 | |||
| Support | S1 | 6.54 | -7.89% | |
| S2 | 6.39 | -10.00% | ||
| S3 | 6.35 | -10.56% |
000070 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 30, 2020 | Jun 30, 2020 | Jun 30, 2020 | ¥0.0690 | 0.710% |
| 2 | May 16, 2019 | May 16, 2019 | May 16, 2019 | ¥0.0450 | 0.343% |
| 3 | May 24, 2018 | May 24, 2018 | May 24, 2018 | ¥0.0300 | 0.383% |
| 4 | Jun 07, 2017 | Jun 07, 2017 | Jun 07, 2017 | ¥0.0272 | 0.291% |
| 5 | Jul 11, 2016 | Jul 11, 2016 | Jul 11, 2016 | ¥0.0109 | 0.109% |
FAQ
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