Shenzhen Topband Co Ltd Stock Forecast
Green day on Thursday for Shenzhen Topband Co Ltd
(Updated on May 09, 2024)
The Shenzhen Topband Co Ltd stock price gained 1.75% on the last trading day (Thursday, 9th May 2024), rising from ¥10.29 to ¥10.47. During the last trading day the stock fluctuated 1.95% from a day low at ¥10.28 to a day high of ¥10.48. The price has risen in 7 of the last 10 days and is up by 13.19% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 18 million shares were bought and sold for approximately ¥189.93 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 upper part of a 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 ¥10.54 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 22.99% during the next 3 months and, with a 90% probability hold a price between ¥11.45 and ¥12.97 at the end of this 3-month period.
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002139.SZ Signals & Forecast
The Shenzhen Topband 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 ¥10.35 and ¥9.51. 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 Tuesday, May 07, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Shenzhen Topband Co Ltd stock
Shenzhen Topband Co Ltd finds support from accumulated volume at ¥10.19 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 ¥0.200 between high and low, or 1.95%. For the last week, the stock has had daily average volatility of 2.06%.
The Shenzhen Topband Co Ltd stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: ¥10.17 (-2.88%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 81 and this increases the risk substantially. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (002139.SZ) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Shenzhen Topband Co Ltd to open at ¥10.41, and during the day (based on 14 day Average True Range), to move between ¥10.06 and ¥10.88, which gives a possible trading interval of +/-¥0.412 (+/-3.94%) up or down from last closing price. If Shenzhen Topband Co Ltd takes out the full calculated possible swing range there will be an estimated 7.87% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ¥10.19, some ¥0.280 (2.67%) from the current price of ¥10.47, our system finds the risk reward attractive.
Is Shenzhen Topband 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 Topband Co Ltd stock to perform well in the short-term.
Current score: 2.689 Buy Candidate Unchanged
Predicted Opening Price for Shenzhen Topband Co Ltd of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| ¥10.41 ( 0.573%) | ¥10.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002139.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.61 | 1.34 % | |
| R2 | 10.53 | 0.607 % | ||
| R1 | 10.49 | 0.157 % | ||
| Current price: | 10.47 | |||
| Support | S1 | 10.33 | -1.30 % | |
| S2 | 10.29 | -1.75 % | ||
| S3 | 10.21 | -2.48 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 10.47 | |||
| Support | S1 | 10.19 | -2.67% | |
| S2 | 10.01 | -4.39% | ||
| S3 | 9.33 | -10.89% |
002139 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 10, 2024 | May 10, 2024 | May 10, 2024 | ¥0.0600 | 0.573% |
| 2 | May 05, 2023 | May 05, 2023 | May 05, 2023 | ¥0.0600 | 0.555% |
| 3 | Apr 29, 2022 | Apr 29, 2022 | Apr 29, 2022 | ¥0.0500 | 0.631% |
| 4 | Apr 09, 2021 | Apr 09, 2021 | Apr 09, 2021 | ¥0.0500 | 0.427% |
| 5 | Jun 02, 2020 | Jun 02, 2020 | Jun 02, 2020 | ¥0.0500 | 0.91% |
FAQ
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