Zhejiang Dali Technology Co., Ltd Stock Forecast
Red day on Wednesday for Zhejiang Dali Technology Co., Ltd stock after losing 4.04%
(Updated on May 08, 2024)
The Zhejiang Dali Technology Co., Ltd stock price fell by -4.04% on the last day (Wednesday, 8th May 2024) from ¥14.35 to ¥13.77. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 7.42% from a day low at ¥13.74 to a day high of ¥14.76. The price has fallen in 6 of the last 10 days but is still up by 0.88% over the past 2 weeks. Volume has increased on the last day by 2 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 7 million shares were bought and sold for approximately ¥95.58 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥13.47 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 16.31% during the next 3 months and, with a 90% probability hold a price between ¥15.67 and ¥19.75 at the end of this 3-month period.
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002214.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 6.74%. 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 Dali Technology 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 ¥14.29 and ¥14.47. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Zhejiang Dali Technology Co., Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥12.96 and ¥12.89. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Zhejiang Dali Technology Co., Ltd finds support just below today's level at ¥12.96. If this is broken, then the next support from accumulated volume will be at ¥12.89 and ¥12.38.
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 ¥1.02 between high and low, or 7.42%. For the last week, the stock has had daily average volatility of 6.85%.
Our recommended stop-loss: ¥13.21 (-4.06%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (002214.SZ) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Zhejiang Dali Technology Co., Ltd to open at ¥14.09, and during the day (based on 14 day Average True Range), to move between ¥12.84 and ¥14.70, which gives a possible trading interval of +/-¥0.93 (+/-6.75%) up or down from last closing price. If Zhejiang Dali Technology Co., Ltd takes out the full calculated possible swing range there will be an estimated 13.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥14.24 (3.41%) than the support at ¥12.96 (5.88%), 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 Zhejiang Dali Technology Co., Ltd stock A Buy?
Zhejiang Dali Technology Co., Ltd holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.520 Hold/Accumulate Unchanged
Predicted Opening Price for Zhejiang Dali Technology Co., Ltd of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| ¥14.09 ( 2.32%) | ¥13.77 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002214.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.11 | 9.73 % | |
| R2 | 14.72 | 6.90 % | ||
| R1 | 14.48 | 5.15 % | ||
| Current price: | 13.77 | |||
| Support | S1 | 13.70 | -0.506 % | |
| S2 | 13.46 | -2.25 % | ||
| S3 | 13.07 | -5.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.45 | 12.20 % | |
| R2 | 14.54 | 5.59 % | ||
| R1 | 14.24 | 3.41 % | ||
| Current price | 13.77 | |||
| Support | S1 | 12.96 | -5.88% | |
| S2 | 12.89 | -6.39% | ||
| S3 | 12.38 | -10.09% |
002214 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 09, 2023 | Jun 09, 2023 | Jun 09, 2023 | ¥0.0500 | 0.394% |
| 2 | Jun 10, 2022 | Jun 10, 2022 | Jun 10, 2022 | ¥0.0800 | 0.675% |
| 3 | Jun 09, 2021 | Jun 09, 2021 | Jun 09, 2021 | ¥0.0667 | 0.342% |
| 4 | Jun 18, 2020 | Jun 18, 2020 | Jun 18, 2020 | ¥0.0670 | 0.333% |
| 5 | Jun 20, 2019 | Jun 20, 2019 | Jun 20, 2019 | ¥0.0250 | 0.342% |
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