Shenzhen New Nanshan Holding Grp Co Ltd Stock Forecast
Shenzhen New Nanshan Holding Grp Co Ltd stock upgraded from Strong Sell Candidate to Sell Candidate after Tuesday trading session.
(Updated on Jun 25, 2024)
The Shenzhen New Nanshan Holding Grp Co Ltd stock price gained 1.46% on the last trading day (Tuesday, 25th Jun 2024), rising from ¥2.05 to ¥2.08. During the last trading day the stock fluctuated 5.97% from a day low at ¥2.01 to a day high of ¥2.13. The price has been going up and down for this period, and there has been a -6.73% loss for the last 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, 19 million shares were bought and sold for approximately ¥40.25 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥2.05 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -9.35% during the next 3 months and, with a 90% probability hold a price between ¥1.85 and ¥2.35 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
002314.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 1.46%. Further rise is indicated until a new top pivot has been found. 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 New Nanshan Holding Grp 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 ¥2.13 and ¥2.36. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Shenzhen New Nanshan Holding Grp Co Ltd stock
Shenzhen New Nanshan Holding Grp Co Ltd finds support from accumulated volume at ¥2.05 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 ¥0.120 between high and low, or 5.97%. For the last week, the stock has had daily average volatility of 4.48%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002314.SZ) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Shenzhen New Nanshan Holding Grp Co Ltd to open at ¥2.07, and during the day (based on 14 day Average True Range), to move between ¥1.96 and ¥2.20, which gives a possible trading interval of +/-¥0.115 (+/-5.55%) up or down from last closing price. If Shenzhen New Nanshan Holding Grp Co Ltd takes out the full calculated possible swing range there will be an estimated 11.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥2.05 (1.44%) than the resistance at ¥2.38 (14.42%), 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 New Nanshan Holding Grp Co Ltd stock A Buy?
Shenzhen New Nanshan Holding Grp Co Ltd holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -2.454 Sell Candidate Upgraded
Predicted Opening Price for Shenzhen New Nanshan Holding Grp Co Ltd of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ¥2.07 ( 0.321%) | ¥2.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002314.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.19 | 5.45% |
| R2 | 2.15 | 3.24% |
| R1 | 2.12 | 1.88% |
| Price | 2.08 | |
| S1 | 2.03 | -2.52% |
| S2 | 2.00 | -3.89% |
| S3 | 1.95 | -6.09% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.58 | 24.04% |
| R2 | 2.46 | 18.27% |
| R1 | 2.38 | 14.42% |
| Price | 2.08 | |
| S1 | 2.05 | -1.44% |
| S2 | 0 | - |
| S3 | 0 | - |
002314 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 21, 2023 | Aug 21, 2023 | Aug 21, 2023 | ¥0.0370 | 1.04% |
| 2 | Jul 06, 2021 | Jul 06, 2021 | Jul 06, 2021 | ¥0.100 | 3.10% |
| 3 | Aug 20, 2020 | Aug 20, 2020 | Aug 20, 2020 | ¥0.0580 | 1.29% |
| 4 | Jul 21, 2017 | Jul 21, 2017 | Jul 21, 2017 | ¥0.207 | 3.32% |
| 5 | Jun 23, 2016 | Jun 23, 2016 | Jun 23, 2016 | ¥0.188 | 2.68% |
FAQ
Click here for our free guide on how to buy Shenzhen New Nanshan Holding Grp Co Ltd Stock.
