Zhongshan Public Utilities Group Co Ltd Stock Forecast
Zhongshan Public Utilities Group Co Ltd stock upgraded to Strong Buy Candidate.
(Updated on May 09, 2024)
The Zhongshan Public Utilities Group Co Ltd stock price gained 2.21% on the last trading day (Thursday, 9th May 2024), rising from ¥7.70 to ¥7.87. During the last trading day the stock fluctuated 3.12% from a day low at ¥7.69 to a day high of ¥7.93. The price has fallen in 6 of the last 10 days and is down by -1.13% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 14 million more shares were traded than the day before. In total, 22 million shares were bought and sold for approximately ¥173.97 million.
The stock lies in the middle of a 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 6.60% during the next 3 months and, with a 90% probability hold a price between ¥8.22 and ¥8.77 at the end of this 3-month period.
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000685.SZ Signals & Forecast
The Zhongshan Public Utilities 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 ¥7.83 and ¥7.81. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 08, 2024, and so far it has risen 2.21%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Zhongshan Public Utilities Group Co Ltd stock
Zhongshan Public Utilities Group Co Ltd finds support from accumulated volume at ¥7.74 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 ¥0.240 between high and low, or 3.12%. For the last week the stock has had daily average volatility of 2.49%.
Our recommended stop-loss: ¥7.47 (-5.12%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (000685.SZ) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Zhongshan Public Utilities Group Co Ltd to open at ¥7.83, and during the day (based on 14 day Average True Range), to move between ¥7.66 and ¥8.08, which gives a possible trading interval of +/-¥0.212 (+/-2.69%) up or down from last closing price. If Zhongshan Public Utilities Group Co Ltd takes out the full calculated possible swing range there will be an estimated 5.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥7.96 (1.14%) than the support at ¥7.74 (1.65%), 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 Zhongshan Public Utilities Group Co Ltd stock A Buy?
Zhongshan Public Utilities Group 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 Sell to a Strong Buy candidate.
Current score: 5.844 Strong Buy Candidate Upgraded
Predicted Opening Price for Zhongshan Public Utilities Group Co Ltd of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| ¥7.83 ( 0.508%) | ¥7.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000685.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.07 | 2.54 % | |
| R2 | 7.98 | 1.38 % | ||
| R1 | 7.92 | 0.657 % | ||
| Current price: | 7.87 | |||
| Support | S1 | 7.74 | -1.67 % | |
| S2 | 7.68 | -2.39 % | ||
| S3 | 7.59 | -3.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.12 | 3.18 % | |
| R2 | 8.01 | 1.78 % | ||
| R1 | 7.96 | 1.14 % | ||
| Current price | 7.87 | |||
| Support | S1 | 7.74 | -1.65% | |
| S2 | 7.65 | -2.80% | ||
| S3 | 7.56 | -3.94% |
000685 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 21, 2022 | Jul 21, 2022 | Jul 21, 2022 | ¥0.300 | 4.02% |
| 2 | Jul 19, 2021 | Jul 19, 2021 | Jul 19, 2021 | ¥0.280 | 3.62% |
| 3 | Aug 10, 2020 | Aug 10, 2020 | Aug 10, 2020 | ¥0.250 | 3.01% |
| 4 | Jul 12, 2019 | Jul 12, 2019 | Jul 12, 2019 | ¥0.139 | 1.63% |
| 5 | Aug 24, 2018 | Aug 24, 2018 | Aug 24, 2018 | ¥0.220 | 2.88% |
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