Guangdong Shaoneng Group Co., Ltd. Stock Forecast
Guangdong Shaoneng Group Co., Ltd. stock price ended at ¥4.19 on Monday, after gaining 2.20%.
(Updated on May 20, 2024)
The Guangdong Shaoneng Group Co., Ltd. stock price gained 2.20% on the last trading day (Monday, 20th May 2024), rising from ¥4.10 to ¥4.19. During the last trading day the stock fluctuated 4.19% from a day low at ¥4.06 to a day high of ¥4.23. The price has risen in 6 of the last 10 days and is up by 3.46% 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, 2 million more shares were traded than the day before. In total, 9 million shares were bought and sold for approximately ¥37.37 million.
The stock lies in the upper part of a wide and strong rising 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 ¥4.27 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 13.89% during the next 3 months and, with a 90% probability hold a price between ¥4.16 and ¥4.86 at the end of this 3-month period.
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000601.SZ Signals & Forecast
The Guangdong Shaoneng 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 ¥4.13 and ¥3.81. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 14, 2024, and so far it has fallen -0.95%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Guangdong Shaoneng Group Co., Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥3.77 and ¥3.70. 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, Guangdong Shaoneng Group Co., Ltd. finds support just below today's level at ¥3.77. If this is broken, then the next support from accumulated volume will be at ¥3.70 and ¥3.43.
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 ¥0.170 between high and low, or 4.19%. For the last week, the stock has had daily average volatility of 4.08%.
The Guangdong Shaoneng Group Co., Ltd. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: ¥4.05 (-3.44%) (This stock has high daily movements and this gives high risk. The RSI14 is 79 and this increases the risk substantially. There is a sell signal from a pivot top found 21 days ago.)
Trading Expectations (000601.SZ) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Guangdong Shaoneng Group Co., Ltd. to open at ¥4.16, and during the day (based on 14 day Average True Range), to move between ¥4.01 and ¥4.37, which gives a possible trading interval of +/-¥0.179 (+/-4.28%) up or down from last closing price. If Guangdong Shaoneng Group Co., Ltd. takes out the full calculated possible swing range there will be an estimated 8.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥4.23 (0.95%) than the support at ¥3.77 (10.02%), 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 Guangdong Shaoneng Group Co., Ltd. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Guangdong Shaoneng Group Co., Ltd. stock to perform well in the short-term.
Current score: 2.339 Buy Candidate Unchanged
Predicted Opening Price for Guangdong Shaoneng Group Co., Ltd. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ¥4.16 ( 0.716%) | ¥4.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000601.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.33 | 3.34 % | |
| R2 | 4.27 | 1.79 % | ||
| R1 | 4.22 | 0.83 % | ||
| Current price: | 4.19 | |||
| Support | S1 | 4.10 | -2.27 % | |
| S2 | 4.05 | -3.22 % | ||
| S3 | 3.99 | -4.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 4.23 | 0.95 % | ||
| Current price | 4.19 | |||
| Support | S1 | 3.77 | -10.02% | |
| S2 | 3.70 | -11.69% | ||
| S3 | 3.43 | -18.14% |
000601 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 29, 2022 | Aug 29, 2022 | Aug 29, 2022 | ¥0.0500 | 0.87% |
| 2 | Aug 27, 2021 | Aug 27, 2021 | Aug 27, 2021 | ¥0.0500 | 1.04% |
| 3 | Aug 28, 2020 | Aug 28, 2020 | Aug 28, 2020 | ¥0.250 | 3.60% |
| 4 | Aug 09, 2019 | Aug 09, 2019 | Aug 09, 2019 | ¥0.150 | 3.05% |
| 5 | Aug 17, 2018 | Aug 17, 2018 | Aug 17, 2018 | ¥0.220 | 4.60% |
FAQ
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