Shenzhen Laibao Hi-Tech Co., Ltd. Stock Forecast
Shenzhen Laibao Hi-Tech Co., Ltd. stock price ended at ¥10.52 on Wednesday, after losing 2.50%.
(Updated on May 08, 2024)
The Shenzhen Laibao Hi-Tech Co., Ltd. stock price fell by -2.50% on the last day (Wednesday, 8th May 2024) from ¥10.79 to ¥10.52. During the last trading day the stock fluctuated 4.85% from a day low at ¥10.30 to a day high of ¥10.80. The price has risen in 7 of the last 10 days and is up by 17.02% over the past 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 -2 million shares and in total, 13 million shares were bought and sold for approximately ¥134.35 million.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ¥10.94 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 18.17% during the next 3 months and, with a 90% probability hold a price between ¥10.32 and ¥12.93 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.
002106.SZ Signals & Forecast
The Shenzhen Laibao Hi-Tech 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 ¥10.27 and ¥9.42. 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). 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, May 06, 2024, and so far it has fallen -3.31%. Further fall is indicated until a new bottom pivot has been found. 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 Laibao Hi-Tech Co., Ltd. stock
Shenzhen Laibao Hi-Tech Co., Ltd. finds support from accumulated volume at ¥10.33 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ¥0.500 between high and low, or 4.85%. For the last week, the stock has had daily average volatility of 8.27%.
Our recommended stop-loss: ¥10.02 (-4.77%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (002106.SZ) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Shenzhen Laibao Hi-Tech Co., Ltd. to open at ¥10.54, and during the day (based on 14 day Average True Range), to move between ¥9.98 and ¥11.06, which gives a possible trading interval of +/-¥0.537 (+/-5.11%) up or down from last closing price. If Shenzhen Laibao Hi-Tech Co., Ltd. takes out the full calculated possible swing range there will be an estimated 10.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥10.55 (0.29%) than the support at ¥10.33 (1.81%), 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 Laibao Hi-Tech 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 Shenzhen Laibao Hi-Tech Co., Ltd. stock to perform well in the short-term.
Current score: 2.817 Buy Candidate Unchanged
Predicted Opening Price for Shenzhen Laibao Hi-Tech Co., Ltd. of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| ¥10.54 ( 0.190%) | ¥10.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002106.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.04 | 4.94 % | |
| R2 | 10.85 | 3.13 % | ||
| R1 | 10.73 | 2.01 % | ||
| Current price: | 10.52 | |||
| Support | S1 | 10.35 | -1.63 % | |
| S2 | 10.23 | -2.75 % | ||
| S3 | 10.04 | -4.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.88 | 3.42 % | |
| R2 | 10.79 | 2.57 % | ||
| R1 | 10.55 | 0.285 % | ||
| Current price | 10.52 | |||
| Support | S1 | 10.33 | -1.81% | |
| S2 | 9.35 | -11.12% | ||
| S3 | 9.07 | -13.78% |
002106 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 09, 2023 | Jun 09, 2023 | Jun 09, 2023 | ¥0.200 | 2.41% |
| 2 | May 05, 2022 | May 05, 2022 | May 05, 2022 | ¥0.100 | 1.41% |
| 3 | Jun 11, 2021 | Jun 11, 2021 | Jun 11, 2021 | ¥0.150 | 1.33% |
| 4 | Jun 30, 2020 | Jun 30, 2020 | Jun 30, 2020 | ¥0.100 | 0.761% |
| 5 | Jun 06, 2019 | Jun 06, 2019 | Jun 06, 2019 | ¥0.100 | 1.43% |
FAQ
Click here for our free guide on how to buy Shenzhen Laibao Hi-Tech Co., Ltd. Stock.
