Zhejiang Founder Motor Co., Ltd. Stock Forecast
Zhejiang Founder Motor Co., Ltd. stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Jul 03, 2024)
The Zhejiang Founder Motor Co., Ltd. stock price fell by -0.95% on the last day (Wednesday, 3rd Jul 2024) from ¥4.22 to ¥4.18. During the last trading day the stock fluctuated 3.64% from a day low at ¥4.12 to a day high of ¥4.27. The price has risen in 5 of the last 10 days but is still down by -2.79% for this period. 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, 4 million shares were bought and sold for approximately ¥18.49 million.
The stock lies in the middle of a 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 -28.39% during the next 3 months and, with a 90% probability hold a price between ¥2.66 and ¥3.25 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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002196.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 6.09%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Zhejiang Founder Motor Co., Ltd. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ¥4.50. On a fall, the stock will find some support from the short-term average at ¥4.17. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 Zhejiang Founder Motor Co., Ltd. stock
Zhejiang Founder Motor Co., Ltd. finds support from accumulated volume at ¥4.17 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 ¥0.150 between high and low, or 3.64%. For the last week, the stock has had daily average volatility of 4.26%.
Our recommended stop-loss: ¥4.01 (-4.08%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 41 days ago.)
Trading Expectations (002196.SZ) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Zhejiang Founder Motor Co., Ltd. to open at ¥4.19, and during the day (based on 14 day Average True Range), to move between ¥3.94 and ¥4.42, which gives a possible trading interval of +/-¥0.242 (+/-5.79%) 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 11.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥4.17 (0.24%) than the resistance at ¥4.19 (0.24%), 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 positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.901 Hold/Accumulate Upgraded
Predicted Opening Price for Zhejiang Founder Motor Co., Ltd. of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| ¥4.19 ( 0.239%) | ¥4.18 |
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 | |
|---|---|---|
| R3 | 4.34 | 3.83% |
| R2 | 4.28 | 2.46% |
| R1 | 4.25 | 1.61% |
| Price | 4.18 | |
| S1 | 4.13 | -1.13% |
| S2 | 4.10 | -1.98% |
| S3 | 4.04 | -3.35% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.21 | 24.64% |
| R2 | 5.13 | 22.73% |
| R1 | 4.19 | 0.239% |
| Price | 4.18 | |
| S1 | 4.17 | -0.239% |
| S2 | 4.13 | -1.20% |
| S3 | 3.98 | -4.78% |
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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