Shenzhen Deren Electronic Co Ltd Stock Forecast
Big movements in Shenzhen Deren Electronic Co Ltd stock price on Tuesday moving 10.73% between high and low
(Updated on Jul 02, 2024)
The Shenzhen Deren Electronic Co Ltd stock price fell by -3.30% on the last day (Tuesday, 2nd Jul 2024) from ¥6.96 to ¥6.73. During the last trading day the stock fluctuated 10.73% from a day low at ¥6.15 to a day high of ¥6.81. The price has been going up and down for this period, and there has been a -1.61% loss for the last 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 -43 million shares and in total, 48 million shares were bought and sold for approximately ¥326.32 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Shenzhen Deren Electronic Co Ltd stock with a 90% probability to be traded between ¥5.79 and ¥7.43 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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002055.SZ Signals & Forecast
The Shenzhen Deren Electronic Co Ltd 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 ¥6.44 and ¥6.54. A breakdown below any of these levels will issue sell signals. 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, July 01, 2024, and so far it has fallen -3.30%. 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 Shenzhen Deren Electronic Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥6.37 and ¥6.31. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Shenzhen Deren Electronic Co Ltd finds support just below today's level at ¥6.37. If this is broken, then the next support from accumulated volume will be at ¥6.31 and ¥6.00.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ¥0.660 between high and low, or 10.73%. For the last week, the stock has had daily average volatility of 10.75%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002055.SZ) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Shenzhen Deren Electronic Co Ltd to open at ¥6.56, and during the day (based on 14 day Average True Range), to move between ¥6.08 and ¥7.38, which gives a possible trading interval of +/-¥0.651 (+/-9.67%) up or down from last closing price. If Shenzhen Deren Electronic Co Ltd takes out the full calculated possible swing range there will be an estimated 19.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥7.01 (4.16%) than the support at ¥6.37 (5.35%), 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 Shenzhen Deren Electronic Co Ltd stock A Buy?
Shenzhen Deren Electronic Co Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -1.022 Sell Candidate Downgraded
Predicted Opening Price for Shenzhen Deren Electronic Co Ltd of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| ¥6.56 ( 2.48%) | ¥6.73 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002055.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.22 | 7.33% |
| R2 | 6.97 | 3.58% |
| R1 | 6.82 | 1.27% |
| Price | 6.73 | |
| S1 | 6.31 | -6.22% |
| S2 | 6.16 | -8.54% |
| S3 | 5.90 | -12.28% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.48 | 11.14% |
| R2 | 7.17 | 6.54% |
| R1 | 7.01 | 4.16% |
| Price | 6.73 | |
| S1 | 6.37 | -5.35% |
| S2 | 6.31 | -6.24% |
| S3 | 6.00 | -10.85% |
002055 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 12, 2019 | Jul 12, 2019 | Jul 12, 2019 | ¥0.0600 | 0.566% |
| 2 | May 22, 2018 | May 22, 2018 | May 22, 2018 | ¥0.0500 | 0.264% |
| 3 | Jun 02, 2017 | Jun 02, 2017 | Jun 02, 2017 | ¥0.0200 | 0.111% |
| 4 | May 27, 2015 | May 27, 2015 | May 27, 2015 | ¥0.0500 | 0.0940% |
| 5 | May 19, 2014 | May 19, 2014 | May 19, 2014 | ¥0.100 | 1.17% |
FAQ
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