Shenzhen Deren Electronic Co Ltd Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
High volatility in Shenzhen Deren Electronic Co Ltd stock price on Friday which ended trading at ¥6.97
(Updated on May 24, 2024)
The Shenzhen Deren Electronic Co Ltd stock price gained 9.94% on the last trading day (Friday, 24th May 2024), rising from ¥6.34 to ¥6.97. During the last trading day the stock fluctuated 12.60% from a day low at ¥6.19 to a day high of ¥6.97. The price has been going up and down for this period, and there has been a 10.11% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 24 million more shares were traded than the day before. In total, 40 million shares were bought and sold for approximately ¥277.37 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -9.15% during the next 3 months and, with a 90% probability hold a price between ¥4.98 and ¥7.85 at the end of this 3-month period.
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002055.SZ Signals & Forecast
Mostly positive signals in the chart today. 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 ¥6.56 and ¥6.60. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 19.15%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. The stock had a Golden Star Signal on Friday, March 08, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Friday, March 08, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Shenzhen Deren Electronic Co Ltd stock
Shenzhen Deren Electronic Co Ltd finds support from accumulated volume at ¥6.75 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 ¥0.780 between high and low, or 12.60%. For the last week, the stock has had daily average volatility of 5.34%.
Our recommended stop-loss: ¥6.70 (-3.92%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 38 days ago.)
Trading Expectations (002055.SZ) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Shenzhen Deren Electronic Co Ltd to open at ¥6.71, and during the day (based on 14 day Average True Range), to move between ¥6.54 and ¥7.40, which gives a possible trading interval of +/-¥0.432 (+/-6.19%) 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 12.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥6.75 (3.16%) than the resistance at ¥8.21 (17.79%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Shenzhen Deren Electronic Co Ltd will release earnings BMO on Thursday, May 30, 2024. We will update the financials statements for Shenzhen Deren Electronic Co Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.18% in the first trading day after earnings release.
Is Shenzhen Deren Electronic Co Ltd stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.621 Buy Candidate Upgraded
Predicted Opening Price for Shenzhen Deren Electronic Co Ltd of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| ¥6.71 ( 3.73%) | ¥6.97 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 7.49 | 7.46 % | |
| R2 | 7.19 | 3.19 % | ||
| R1 | 7.01 | 0.545 % | ||
| Current price: | 6.97 | |||
| Support | S1 | 6.41 | -8.01 % | |
| S2 | 6.23 | -10.65 % | ||
| S3 | 5.93 | -14.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.54 | 22.53 % | |
| R2 | 8.46 | 21.38 % | ||
| R1 | 8.21 | 17.79 % | ||
| Current price | 6.97 | |||
| Support | S1 | 6.75 | -3.16% | |
| S2 | 6.62 | -5.02% | ||
| S3 | 6.50 | -6.74% |
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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