HeNan Splendor Science & Technology Co., Stock Forecast
Stronger technical forecast for HeNan Splendor Science & Technology Co., stock price after Tuesday trading.
(Updated on Jun 25, 2024)
The HeNan Splendor Science & Technology Co., stock price fell by -0.315% on the last day (Tuesday, 25th Jun 2024) from ¥9.53 to ¥9.50. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 6.50% from a day low at ¥9.39 to a day high of ¥10.00. The price has fallen in 6 of the last 10 days but is still up by 0.64% over the past 2 weeks. 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 -3 million shares and in total, 16 million shares were bought and sold for approximately ¥149.55 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 ¥8.75 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 31.47% during the next 3 months and, with a 90% probability hold a price between ¥11.50 and ¥16.63 at the end of this 3-month period.
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002296.SZ Signals & Forecast
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 HeNan Splendor Science & Technology Co., 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 ¥9.81 and ¥10.06. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -15.10%. Further fall is indicated until a new bottom pivot has been found. 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 HeNan Splendor Science & Technology Co., stock
HeNan Splendor Science & Technology Co., finds support from accumulated volume at ¥9.39 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 ¥0.610 between high and low, or 6.50%. For the last week, the stock has had daily average volatility of 7.12%.
Our recommended stop-loss: ¥8.91 (-6.24%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 45 days ago.)
Trading Expectations (002296.SZ) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect HeNan Splendor Science & Technology Co., Ltd. to open at ¥9.63, and during the day (based on 14 day Average True Range), to move between ¥8.89 and ¥10.11, which gives a possible trading interval of +/-¥0.613 (+/-6.45%) up or down from last closing price. If HeNan Splendor Science & Technology Co., Ltd. takes out the full calculated possible swing range there will be an estimated 12.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥9.39 (1.16%) than the resistance at ¥10.09 (6.21%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is HeNan Splendor Science & Technology Co., Ltd. stock A Buy?
HeNan Splendor Science & Technology Co., 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.287 Hold/Accumulate Upgraded
Predicted Opening Price for HeNan Splendor Science & Technology Co., Ltd. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ¥9.63 ( 1.37%) | ¥9.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002296.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.24 | 7.79% |
| R2 | 10.01 | 5.34% |
| R1 | 9.86 | 3.82% |
| Price | 9.50 | |
| S1 | 9.40 | -1.08% |
| S2 | 9.25 | -2.60% |
| S3 | 9.02 | -5.05% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.51 | 10.63% |
| R2 | 10.14 | 6.74% |
| R1 | 10.09 | 6.21% |
| Price | 9.50 | |
| S1 | 9.39 | -1.16% |
| S2 | 9.35 | -1.58% |
| S3 | 9.22 | -2.95% |
002296 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2024 | May 30, 2024 | May 30, 2024 | ¥0.100 | 1.01% |
| 2 | Jun 10, 2020 | Jun 10, 2020 | Jun 10, 2020 | ¥0.0500 | 0.711% |
| 3 | May 18, 2017 | May 18, 2017 | May 18, 2017 | ¥0.0100 | 0.0775% |
| 4 | May 11, 2016 | May 11, 2016 | May 11, 2016 | ¥0.0300 | 0.213% |
| 5 | Jul 09, 2015 | Jul 09, 2015 | Jul 09, 2015 | ¥0.0300 | 0.143% |
FAQ
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