Shenwan Hongyuan Group Co Ltd Stock Forecast
Green day on Thursday for Shenwan Hongyuan Group Co Ltd
(Updated on Apr 25, 2024)
The Shenwan Hongyuan Group Co Ltd stock price gained 0.659% on the last trading day (Thursday, 25th Apr 2024), rising from ¥4.55 to ¥4.58. During the last trading day the stock fluctuated 2.00% from a day low at ¥4.51 to a day high of ¥4.60. The price has risen in 6 of the last 10 days and is up by 3.39% 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, 3 million more shares were traded than the day before. In total, 51 million shares were bought and sold for approximately ¥231.78 million.
The stockis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ¥4.63 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Shenwan Hongyuan Group Co Ltd stock with a 90% probability to be traded between ¥4.42 and ¥4.70 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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000166.SZ Signals & Forecast
Mostly positive signals in the chart today. The Shenwan Hongyuan Group 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 ¥4.55 and ¥4.50. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 5.29%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. The stock had a Golden Star Signal on Thursday, December 07, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Thursday, December 07, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
A sell signal from a double top formation was found on Monday, March 18, 2024 and based on theory for this formation the price should fall by -4.80% to ¥4.36 within 4 trading days since signal was issued (Friday, April 26, 2024).
Support, Risk & Stop-loss for Shenwan Hongyuan Group Co Ltd stock
Shenwan Hongyuan Group Co Ltd finds support from accumulated volume at ¥4.57 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ¥0.0900 between high and low, or 2.00%. For the last week the stock has had daily average volatility of 2.32%.
Our recommended stop-loss: ¥4.36 (-4.74%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (000166.SZ) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Shenwan Hongyuan Group Co Ltd to open at ¥4.56, and during the day (based on 14 day Average True Range), to move between ¥4.48 and ¥4.68, which gives a possible trading interval of +/-¥0.102 (+/-2.23%) up or down from last closing price. If Shenwan Hongyuan Group Co Ltd takes out the full calculated possible swing range there will be an estimated 4.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥4.57 (0.22%) than the resistance at ¥4.60 (0.44%), 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
Shenwan Hongyuan Group Co Ltd will release earnings BMO on Friday, April 26, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0100. We will update the financials statements for Shenwan Hongyuan Group Co Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 1.51% in the first trading day after earnings release.
Is Shenwan Hongyuan Group Co Ltd stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Shenwan Hongyuan Group Co Ltd stock to perform well in the short-term period.
Current score: 3.033 Buy Candidate Unchanged
Predicted Opening Price for Shenwan Hongyuan Group Co Ltd of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| ¥4.56 ( 0.364%) | ¥4.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000166.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.65 | 1.60 % | |
| R2 | 4.62 | 0.85 % | ||
| R1 | 4.60 | 0.387 % | ||
| Current price: | 4.58 | |||
| Support | S1 | 4.53 | -1.11 % | |
| S2 | 4.51 | -1.58 % | ||
| S3 | 4.47 | -2.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 4.60 | 0.437 % | ||
| Current price | 4.58 | |||
| Support | S1 | 4.57 | -0.218% | |
| S2 | 4.52 | -1.31% | ||
| S3 | 4.50 | -1.75% |
000166 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 11, 2023 | Aug 11, 2023 | Aug 11, 2023 | ¥0.0300 | 0.609% |
| 2 | Aug 05, 2022 | Aug 05, 2022 | Aug 05, 2022 | ¥0.100 | 2.49% |
| 3 | Jul 23, 2021 | Jul 23, 2021 | Jul 23, 2021 | ¥0.100 | 2.23% |
| 4 | Aug 20, 2020 | Aug 20, 2020 | Aug 20, 2020 | ¥0.0800 | 1.41% |
| 5 | May 17, 2019 | May 17, 2019 | May 17, 2019 | ¥0.0500 | 1.09% |
FAQ
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