Gree Electric Appliances Inc of Zhuhai Stock Forecast
Gree Electric Appliances Inc of Zhuhai stock price ended at ¥38.87 on Wednesday, after losing 0.715%.
(Updated on Apr 24, 2024)
The Gree Electric Appliances Inc of Zhuhai stock price fell by -0.715% on the last day (Wednesday, 24th Apr 2024) from ¥39.15 to ¥38.87. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 3.14% from a day low at ¥38.50 to a day high of ¥39.71. The price has fallen in 6 of the last 10 days but is still up by 2.51% 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 -5 million shares and in total, 24 million shares were bought and sold for approximately ¥913.69 million.
The stock lies in the middle of a wide and strong 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 10.38% during the next 3 months and, with a 90% probability hold a price between ¥41.56 and ¥47.62 at the end of this 3-month period.
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000651.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Gree Electric Appliances Inc of Zhuhai stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ¥39.50 and ¥39.21. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 08, 2024, and so far it has fallen -5.13%. 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 Gree Electric Appliances Inc of Zhuhai stock
Gree Electric Appliances Inc of Zhuhai finds support from accumulated volume at ¥38.10 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 ¥1.21 (3.14%) between high and low. For the last week, the stock has had daily average volatility of 4.26%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000651.SZ) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Gree Electric Appliances Inc of Zhuhai to open at ¥39.03, and during the day (based on 14 day Average True Range), to move between ¥37.45 and ¥40.29, which gives a possible trading interval of +/-¥1.42 (+/-3.65%) up or down from last closing price. If Gree Electric Appliances Inc of Zhuhai takes out the full calculated possible swing range there will be an estimated 7.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥38.88 (0.03%) than the support at ¥38.10 (1.98%), 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.
Earnings coming up
Gree Electric Appliances Inc of Zhuhai will release earnings BMO on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.31. We will update the financials statements for Gree Electric Appliances Inc of Zhuhai, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 1.47% in the first trading day after earnings release.
Is Gree Electric Appliances Inc of Zhuhai stock A Buy?
The Gree Electric Appliances Inc of Zhuhai stock holds several negative signals and despite the positive trend, we believe Gree Electric Appliances Inc of Zhuhai will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.268 Sell Candidate Unchanged
Predicted Opening Price for Gree Electric Appliances Inc of Zhuhai of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| ¥39.03 ( 0.403%) | ¥38.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000651.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 40.24 | 3.52 % | |
| R2 | 39.77 | 2.33 % | ||
| R1 | 39.49 | 1.59 % | ||
| Current price: | 38.87 | |||
| Support | S1 | 38.56 | -0.786 % | |
| S2 | 38.28 | -1.52 % | ||
| S3 | 37.82 | -2.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.57 | 1.80 % | |
| R2 | 39.26 | 1.00 % | ||
| R1 | 38.88 | 0.0257 % | ||
| Current price | 38.87 | |||
| Support | S1 | 38.10 | -1.98% | |
| S2 | 35.90 | -7.64% | ||
| S3 | 35.06 | -9.80% |
000651 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 27, 2023 | Feb 27, 2023 | Feb 27, 2023 | ¥1.00 | 2.84% |
| 2 | Aug 05, 2022 | Aug 05, 2022 | Aug 05, 2022 | ¥2.00 | 6.51% |
| 3 | Apr 08, 2022 | Apr 08, 2022 | Apr 08, 2022 | ¥1.00 | 3.10% |
| 4 | Aug 23, 2021 | Aug 23, 2021 | Aug 23, 2021 | ¥3.00 | 6.67% |
| 5 | Nov 12, 2020 | Nov 12, 2020 | Nov 12, 2020 | ¥1.00 | 1.51% |
FAQ
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