Shenzhen Guangju Energy Co., Ltd. Stock Forecast
Weaker technical forecast for Shenzhen Guangju Energy Co., Ltd. as stock downgraded to Hold/Accumulate.
(Updated on May 21, 2024)
The Shenzhen Guangju Energy Co., Ltd. stock price fell by -1.73% on the last day (Tuesday, 21st May 2024) from ¥10.97 to ¥10.78. During the last trading day the stock fluctuated 4.33% from a day low at ¥10.63 to a day high of ¥11.09. The price has risen in 6 of the last 10 days and is up by 4.15% 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 -817 thousand shares and in total, 6 million shares were bought and sold for approximately ¥61.67 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.31% during the next 3 months and, with a 90% probability hold a price between ¥10.72 and ¥11.94 at the end of this 3-month period.
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000096.SZ Signals & Forecast
The Shenzhen Guangju Energy 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 ¥10.60 and ¥10.61. 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, May 20, 2024, and so far it has fallen -1.73%. 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 Guangju Energy Co., Ltd. stock
Shenzhen Guangju Energy Co., Ltd. finds support from accumulated volume at ¥10.67 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ¥0.460 (4.33%) between high and low. For the last week, the stock has had daily average volatility of 3.58%.
Our recommended stop-loss: ¥10.36 (-3.93%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 22 days ago.)
Trading Expectations (000096.SZ) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Shenzhen Guangju Energy Co., Ltd. to open at ¥10.83, and during the day (based on 14 day Average True Range), to move between ¥10.33 and ¥11.23, which gives a possible trading interval of +/-¥0.449 (+/-4.16%) up or down from last closing price. If Shenzhen Guangju Energy Co., Ltd. takes out the full calculated possible swing range there will be an estimated 8.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥10.80 (0.19%) than the support at ¥10.67 (1.02%), 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 Guangju Energy Co., Ltd. stock A Buy?
Shenzhen Guangju Energy 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: 0.692 Hold/Accumulate Downgraded
Predicted Opening Price for Shenzhen Guangju Energy Co., Ltd. of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| ¥10.83 ( 0.495%) | ¥10.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000096.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.29 | 4.76 % | |
| R2 | 11.12 | 3.13 % | ||
| R1 | 11.01 | 2.12 % | ||
| Current price: | 10.78 | |||
| Support | S1 | 10.66 | -1.14 % | |
| S2 | 10.55 | -2.14 % | ||
| S3 | 10.37 | -3.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.90 | 1.11 % | |
| R2 | 10.84 | 0.557 % | ||
| R1 | 10.80 | 0.186 % | ||
| Current price | 10.78 | |||
| Support | S1 | 10.67 | -1.02% | |
| S2 | 10.25 | -4.92% | ||
| S3 | 10.10 | -6.31% |
000096 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 06, 2023 | Jul 06, 2023 | Jul 06, 2023 | ¥0.0300 | 0.372% |
| 2 | Aug 19, 2022 | Aug 19, 2022 | Aug 19, 2022 | ¥0.700 | 7.74% |
| 3 | Jun 18, 2021 | Jun 18, 2021 | Jun 18, 2021 | ¥0.0200 | 0.202% |
| 4 | Jun 12, 2020 | Jun 12, 2020 | Jun 12, 2020 | ¥0.0200 | 0.172% |
| 5 | Jun 18, 2019 | Jun 18, 2019 | Jun 18, 2019 | ¥0.0200 | 0.212% |
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