China Merhnts ExprswyNtwk TechHldgCoLtd Stock Forecast
Red day on Friday for China Merhnts ExprswyNtwk TechHldgCoLtd
(Updated on May 10, 2024)
The China Merhnts ExprswyNtwk TechHldgCoLtd stock price fell by -0.783% on the last day (Friday, 10th May 2024) from ¥11.50 to ¥11.41. During the last trading day the stock fluctuated 1.59% from a day low at ¥11.34 to a day high of ¥11.52. The price has been going up and down for this period, and there has been a -2.4% loss for the last 2 weeks. Volume has increased on the last day by 2 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 22 million shares were bought and sold for approximately ¥251.27 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 11.03% during the next 3 months and, with a 90% probability hold a price between ¥12.28 and ¥13.95 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
001965.SZ Signals & Forecast
The China Merhnts ExprswyNtwk TechHldgCoLtd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥11.28 and ¥11.39. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 29, 2024, and so far it has risen 4.49%. Further rise is indicated until a new top pivot has been found. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for China Merhnts ExprswyNtwk TechHldgCoLtd stock
China Merhnts ExprswyNtwk TechHldgCoLtd finds support from accumulated volume at ¥10.92 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 ¥0.180 between high and low, or 1.59%. For the last week, the stock has had daily average volatility of 5.12%.
Our recommended stop-loss: ¥10.95 (-4.06%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (001965.SZ) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect China Merhnts ExprswyNtwk TechHldgCoLtd to open at ¥11.42, and during the day (based on 14 day Average True Range), to move between ¥10.93 and ¥11.89, which gives a possible trading interval of +/-¥0.483 (+/-4.23%) up or down from last closing price. If China Merhnts ExprswyNtwk TechHldgCoLtd takes out the full calculated possible swing range there will be an estimated 8.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥11.46 (0.44%) than the support at ¥10.92 (4.29%), 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 China Merhnts ExprswyNtwk TechHldgCoLtd 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 China Merhnts ExprswyNtwk TechHldgCoLtd stock to perform well in the short-term.
Current score: 2.258 Buy Candidate Unchanged
Predicted Opening Price for China Merhnts ExprswyNtwk TechHldgCoLtd of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ¥11.42 ( 0.117%) | ¥11.41 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 001965.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.60 | 1.69 % | |
| R2 | 11.53 | 1.09 % | ||
| R1 | 11.49 | 0.719 % | ||
| Current price: | 11.41 | |||
| Support | S1 | 11.35 | -0.486 % | |
| S2 | 11.31 | -0.86 % | ||
| S3 | 11.24 | -1.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.86 | 3.94 % | |
| R2 | 11.51 | 0.88 % | ||
| R1 | 11.46 | 0.438 % | ||
| Current price | 11.41 | |||
| Support | S1 | 10.92 | -4.29% | |
| S2 | 10.87 | -4.73% | ||
| S3 | 10.37 | -9.11% |
001965 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 18, 2023 | Jul 18, 2023 | Jul 18, 2023 | ¥0.414 | 4.51% |
| 2 | Jul 05, 2022 | Jul 05, 2022 | Jul 05, 2022 | ¥0.346 | 4.65% |
| 3 | Jun 25, 2021 | Jun 25, 2021 | Jun 25, 2021 | ¥0.177 | 2.34% |
| 4 | Aug 24, 2020 | Aug 24, 2020 | Aug 24, 2020 | ¥0.280 | 3.97% |
| 5 | Jul 12, 2019 | Jul 12, 2019 | Jul 12, 2019 | ¥0.254 | 3.11% |
FAQ
Click here for our free guide on how to buy China Merhnts ExprswyNtwk TechHldgCoLtd Stock.
