Guangdong Shirongzhaoye Co.,Ltd Stock Forecast
Stronger technical forecast for Guangdong Shirongzhaoye Co.,Ltd stock price after Tuesday trading.
(Updated on May 07, 2024)
The Guangdong Shirongzhaoye Co.,Ltd stock price gained 0.94% on the last trading day (Tuesday, 7th May 2024), rising from ¥5.34 to ¥5.39. During the last trading day the stock fluctuated 5.70% from a day low at ¥5.26 to a day high of ¥5.56. The price has risen in 6 of the last 10 days and is up by 9.78% over the past 2 weeks. Volume fell on the last day by -3 million shares and in total, 5 million shares were bought and sold for approximately ¥24.70 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 middle of a wide and 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 7.87% during the next 3 months and, with a 90% probability hold a price between ¥5.13 and ¥6.14 at the end of this 3-month period.
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002016.SZ Signals & Forecast
The Guangdong Shirongzhaoye 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 ¥5.38 and ¥5.19. 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 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. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -4.94%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Guangdong Shirongzhaoye Co.,Ltd stock
Guangdong Shirongzhaoye Co.,Ltd finds support from accumulated volume at ¥5.19 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 ¥0.300 between high and low, or 5.70%. For the last week, the stock has had daily average volatility of 7.31%.
Our recommended stop-loss: ¥5.12 (-5.06%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (002016.SZ) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Guangdong Shirongzhaoye Co.,Ltd to open at ¥5.40, and during the day (based on 14 day Average True Range), to move between ¥5.06 and ¥5.72, which gives a possible trading interval of +/-¥0.327 (+/-6.06%) up or down from last closing price. If Guangdong Shirongzhaoye Co.,Ltd takes out the full calculated possible swing range there will be an estimated 12.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥5.41 (0.37%) than the support at ¥5.19 (3.71%), 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 Shirongzhaoye 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 Shirongzhaoye Co.,Ltd stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.089 Buy Candidate Upgraded
Predicted Opening Price for Guangdong Shirongzhaoye Co.,Ltd of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| ¥5.40 ( 0.247%) | ¥5.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002016.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.70 | 5.81 % | |
| R2 | 5.59 | 3.69 % | ||
| R1 | 5.52 | 2.37 % | ||
| Current price: | 5.39 | |||
| Support | S1 | 5.29 | -1.88 % | |
| S2 | 5.22 | -3.19 % | ||
| S3 | 5.10 | -5.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.67 | 5.19 % | |
| R2 | 5.47 | 1.48 % | ||
| R1 | 5.41 | 0.371 % | ||
| Current price | 5.39 | |||
| Support | S1 | 5.19 | -3.71% | |
| S2 | 4.77 | -11.50% | ||
| S3 | 4.40 | -18.37% |
002016 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 19, 2022 | Jul 19, 2022 | Jul 19, 2022 | ¥0.300 | 4.82% |
| 2 | Jul 20, 2021 | Jul 20, 2021 | Jul 20, 2021 | ¥0.100 | 1.58% |
| 3 | Jun 03, 2019 | Jun 03, 2019 | Jun 03, 2019 | ¥0.500 | 6.02% |
| 4 | May 03, 2018 | May 03, 2018 | May 03, 2018 | ¥0.720 | 5.10% |
| 5 | Jun 01, 2017 | Jun 01, 2017 | Jun 01, 2017 | ¥0.380 | 4.58% |
FAQ
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