Zhejiang Founder Motor Co., Ltd. Stock Forecast
Evaluation of Zhejiang Founder Motor Co., Ltd. stock downgraded after the last trading session.
(Updated on May 09, 2024)
The Zhejiang Founder Motor Co., Ltd. stock price gained 2.30% on the last trading day (Thursday, 9th May 2024), rising from ¥5.21 to ¥5.33. During the last trading day the stock fluctuated 5.01% from a day low at ¥5.19 to a day high of ¥5.45. The price has risen in 7 of the last 10 days and is up by 6.81% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 15 million shares were bought and sold for approximately ¥79.78 million.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥4.92 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 6.77% during the next 3 months and, with a 90% probability hold a price between ¥5.26 and ¥7.45 at the end of this 3-month period.
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002196.SZ Signals & Forecast
There are mixed signals in the stock today. The Zhejiang Founder Motor Co., Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ¥5.34 and ¥5.66. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 10.81%. 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.
Support, Risk & Stop-loss for Zhejiang Founder Motor Co., Ltd. stock
Zhejiang Founder Motor Co., Ltd. finds support from accumulated volume at ¥5.21 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 ¥0.260 between high and low, or 5.01%. For the last week, the stock has had daily average volatility of 4.09%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002196.SZ) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Zhejiang Founder Motor Co., Ltd. to open at ¥5.32, and during the day (based on 14 day Average True Range), to move between ¥4.98 and ¥5.68, which gives a possible trading interval of +/-¥0.354 (+/-6.65%) up or down from last closing price. If Zhejiang Founder Motor Co., Ltd. takes out the full calculated possible swing range there will be an estimated 13.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥5.21 (2.25%) than the resistance at ¥6.09 (14.26%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Zhejiang Founder Motor Co., Ltd. stock A Buy?
Zhejiang Founder Motor 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 Hold/Accumulate to a Sell candidate.
Current score: -1.161 Sell Candidate Downgraded
Predicted Opening Price for Zhejiang Founder Motor Co., Ltd. of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| ¥5.32 ( 0.125%) | ¥5.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002196.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.58 | 4.75 % | |
| R2 | 5.48 | 2.89 % | ||
| R1 | 5.42 | 1.74 % | ||
| Current price: | 5.33 | |||
| Support | S1 | 5.22 | -1.99 % | |
| S2 | 5.16 | -3.14 % | ||
| S3 | 5.06 | -5.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.58 | 23.45 % | |
| R2 | 6.34 | 18.95 % | ||
| R1 | 6.09 | 14.26 % | ||
| Current price | 5.33 | |||
| Support | S1 | 5.21 | -2.25% | |
| S2 | 5.19 | -2.63% | ||
| S3 | 4.97 | -6.75% |
002196 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 13, 2018 | Jul 13, 2018 | Jul 13, 2018 | ¥0.0500 | 0.696% |
| 2 | Jun 09, 2017 | Jun 09, 2017 | Jun 09, 2017 | ¥0.0294 | 0.283% |
| 3 | May 05, 2016 | May 05, 2016 | May 05, 2016 | ¥0.0588 | 0.385% |
| 4 | Jul 15, 2015 | Jul 15, 2015 | Jul 15, 2015 | ¥0.0588 | 0.445% |
| 5 | Apr 25, 2014 | Apr 25, 2014 | Apr 25, 2014 | ¥0.0588 | 0.92% |
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