China Zhenhua (Group) Science & Tech. Stock Forecast
Volatile ride for China Zhenhua (Group) Science & Tech. stock price on Friday moving between ¥44.19 and ¥48.65
(Updated on May 17, 2024)
The China Zhenhua (Group) Science & Tech. stock price gained 2.55% on the last trading day (Friday, 17th May 2024), rising from ¥44.73 to ¥45.87. During the last trading day the stock fluctuated 10.09% from a day low at ¥44.19 to a day high of ¥48.65. The price has been going up and down for this period, and there has been a -1.74% loss for the last 2 weeks. Volume fell on the last day by -513 thousand shares and in total, 12 million shares were bought and sold for approximately ¥539.91 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥44.32 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -12.17% during the next 3 months and, with a 90% probability hold a price between ¥38.93 and ¥48.70 at the end of this 3-month period.
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000733.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 15, 2024, and so far it has risen 2.89%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The China Zhenhua (Group) Science & Tech. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ¥46.59 and ¥49.96. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for China Zhenhua (Group) Science & Tech. stock
China Zhenhua (Group) Science & Tech. finds support from accumulated volume at ¥44.73 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ¥4.46 between high and low, or 10.09%. For the last week, the stock has had daily average volatility of 7.75%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000733.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect China Zhenhua (Group) Science & Tech. to open at ¥46.24, and during the day (based on 14 day Average True Range), to move between ¥42.45 and ¥49.29, which gives a possible trading interval of +/-¥3.42 (+/-7.45%) up or down from last closing price. If China Zhenhua (Group) Science & Tech. takes out the full calculated possible swing range there will be an estimated 14.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥44.73 (2.49%) than the resistance at ¥47.84 (4.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is China Zhenhua (Group) Science & Tech. stock A Buy?
China Zhenhua (Group) Science & Tech. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.365 Sell Candidate Unchanged
Predicted Opening Price for China Zhenhua (Group) Science & Tech. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥46.24 ( 0.799%) | ¥45.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000733.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 50.70 | 10.52 % | |
| R2 | 48.99 | 6.81 % | ||
| R1 | 47.94 | 4.51 % | ||
| Current price: | 45.87 | |||
| Support | S1 | 44.53 | -2.91 % | |
| S2 | 43.48 | -5.21 % | ||
| S3 | 41.78 | -8.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 53.03 | 15.61 % | |
| R2 | 51.31 | 11.86 % | ||
| R1 | 47.84 | 4.29 % | ||
| Current price | 45.87 | |||
| Support | S1 | 44.73 | -2.49% | |
| S2 | 44.58 | -2.81% | ||
| S3 | 0 | . |
000733 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 09, 2023 | Jun 09, 2023 | Jun 09, 2023 | ¥1.15 | 1.37% |
| 2 | Jul 14, 2022 | Jul 14, 2022 | Jul 14, 2022 | ¥0.300 | 0.234% |
| 3 | Jul 14, 2021 | Jul 14, 2021 | Jul 14, 2021 | ¥0.150 | 0.221% |
| 4 | Jul 07, 2020 | Jul 07, 2020 | Jul 07, 2020 | ¥0.0500 | 0.203% |
| 5 | Jun 06, 2019 | Jun 06, 2019 | Jun 06, 2019 | ¥0.0500 | 0.332% |
FAQ
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