Shandong Shengli Co., Ltd. Stock Forecast
Shandong Shengli Co., Ltd. stock upgraded from Buy Candidate to Strong Buy Candidate after Monday trading session.
(Updated on May 20, 2024)
The Shandong Shengli Co., Ltd. stock price gained 0.94% on the last trading day (Monday, 20th May 2024), rising from ¥3.19 to ¥3.22. During the last trading day the stock fluctuated 1.89% from a day low at ¥3.17 to a day high of ¥3.23. The price has risen in 5 of the last 10 days and is up by 0.94% 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, 12 million shares were bought and sold for approximately ¥38.42 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 5.90% during the next 3 months and, with a 90% probability hold a price between ¥3.21 and ¥3.65 at the end of this 3-month period.
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000407.SZ Signals & Forecast
Mostly positive signals in the chart today. The Shandong Shengli 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 ¥3.19 and ¥3.17. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 8.78%. 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.
Support, Risk & Stop-loss for Shandong Shengli Co., Ltd. stock
Shandong Shengli Co., Ltd. finds support from accumulated volume at ¥3.19 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 ¥0.0600 (1.89%) between high and low. For the last week, the stock has had daily average volatility of 1.71%.
Our recommended stop-loss: ¥3.08 (-4.21%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (000407.SZ) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Shandong Shengli Co., Ltd. to open at ¥3.21, and during the day (based on 14 day Average True Range), to move between ¥3.12 and ¥3.32, which gives a possible trading interval of +/-¥0.101 (+/-3.14%) up or down from last closing price. If Shandong Shengli Co., Ltd. takes out the full calculated possible swing range there will be an estimated 6.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥3.23 (0.31%) than the support at ¥3.19 (0.93%), 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 Shandong Shengli Co., Ltd. stock A Buy?
Shandong Shengli Co., Ltd. holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 7.826 Strong Buy Candidate Upgraded
Predicted Opening Price for Shandong Shengli Co., Ltd. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ¥3.21 ( 0.414%) | ¥3.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000407.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.27 | 1.45 % | |
| R2 | 3.24 | 0.737 % | ||
| R1 | 3.23 | 0.298 % | ||
| Current price: | 3.22 | |||
| Support | S1 | 3.18 | -1.13 % | |
| S2 | 3.17 | -1.57 % | ||
| S3 | 3.15 | -2.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.33 | 3.42 % | |
| R2 | 3.31 | 2.80 % | ||
| R1 | 3.23 | 0.311 % | ||
| Current price | 3.22 | |||
| Support | S1 | 3.19 | -0.93% | |
| S2 | 3.14 | -2.48% | ||
| S3 | 3.11 | -3.42% |
000407 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 14, 2023 | Jul 14, 2023 | Jul 14, 2023 | ¥0.0200 | 0.539% |
| 2 | Jul 15, 2022 | Jul 15, 2022 | Jul 15, 2022 | ¥0.0350 | 0.97% |
| 3 | Jun 30, 2021 | Jun 30, 2021 | Jun 30, 2021 | ¥0.0200 | 0.493% |
| 4 | Jun 19, 2020 | Jun 19, 2020 | Jun 19, 2020 | ¥0.0350 | 1.08% |
| 5 | Jul 25, 2016 | Jul 25, 2016 | Jul 25, 2016 | ¥0.0200 | 0.297% |
FAQ
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