SHENZHEN TOPRAY SOLAR CO -A Common Stock Stock Forecast
Green day on Monday for SHENZHEN TOPRAY SOLAR CO -A Common Stock
(Updated on May 20, 2024)
The SHENZHEN TOPRAY SOLAR CO -A Common Stock stock price gained 0.297% on the last trading day (Monday, 20th May 2024), rising from ¥3.37 to ¥3.38. During the last trading day the stock fluctuated 3.00% from a day low at ¥3.33 to a day high of ¥3.43. The price has fallen in 5 of the last 10 days and is down by -3.98% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 14 million shares were bought and sold for approximately ¥46.65 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 -14.85% during the next 3 months and, with a 90% probability hold a price between ¥2.52 and ¥3.06 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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002218.SZ Signals & Forecast
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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The SHENZHEN TOPRAY SOLAR CO -A Common Stock 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 ¥3.55. On a fall, the stock will find some support from the short-term average at ¥3.38. 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. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -4.52%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for SHENZHEN TOPRAY SOLAR CO -A Common Stock stock
SHENZHEN TOPRAY SOLAR CO -A Common Stock finds support from accumulated volume at ¥3.37 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ¥0.100 (3.00%) between high and low. For the last week, the stock has had daily average volatility of 5.66%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002218.SZ) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect SHENZHEN TOPRAY SOLAR CO -A Common Stock to open at ¥3.38, and during the day (based on 14 day Average True Range), to move between ¥3.20 and ¥3.56, which gives a possible trading interval of +/-¥0.180 (+/-5.31%) up or down from last closing price. If SHENZHEN TOPRAY SOLAR CO -A Common Stock takes out the full calculated possible swing range there will be an estimated 10.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥3.37 (0.30%) than the resistance at ¥3.52 (4.14%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is SHENZHEN TOPRAY SOLAR CO -A Common Stock stock A Buy?
SHENZHEN TOPRAY SOLAR CO -A Common Stock 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.
Current score: -1.174 Sell Candidate Unchanged
Predicted Opening Price for SHENZHEN TOPRAY SOLAR CO -A Common Stock of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ¥3.38 ( 0.00000000%) | ¥3.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002218.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.48 | 2.96 % | |
| R2 | 3.44 | 1.83 % | ||
| R1 | 3.42 | 1.13 % | ||
| Current price: | 3.38 | |||
| Support | S1 | 3.34 | -1.13 % | |
| S2 | 3.32 | -1.83 % | ||
| S3 | 3.28 | -2.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.85 | 13.91 % | |
| R2 | 3.78 | 11.83 % | ||
| R1 | 3.52 | 4.14 % | ||
| Current price | 3.38 | |||
| Support | S1 | 3.37 | -0.296% | |
| S2 | 3.36 | -0.592% | ||
| S3 | 3.19 | -5.62% |
002218 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 11, 2023 | Jul 11, 2023 | Jul 11, 2023 | ¥0.0300 | 0.619% |
| 2 | Jul 06, 2022 | Jul 06, 2022 | Jul 06, 2022 | ¥0.0350 | 0.598% |
| 3 | Dec 17, 2021 | Dec 17, 2021 | Dec 17, 2021 | ¥0.0350 | 0.489% |
| 4 | Jul 27, 2020 | Jul 27, 2020 | Jul 27, 2020 | ¥0.0250 | 0.623% |
| 5 | Jul 05, 2018 | Jul 05, 2018 | Jul 05, 2018 | ¥0.0300 | 1.06% |
FAQ
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