Zhejiang Yongtai Technology Co., LTD. Stock Forecast
Zhejiang Yongtai Technology Co., LTD. stock upgraded to Hold/Accumulate.
(Updated on Apr 25, 2024)
The Zhejiang Yongtai Technology Co., LTD. stock price gained 0.90% on the last trading day (Thursday, 25th Apr 2024), rising from ¥8.89 to ¥8.97. During the last trading day the stock fluctuated 3.97% from a day low at ¥8.81 to a day high of ¥9.16. The price has fallen in 6 of the last 10 days and is down by -13.67% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 412 thousand more shares were traded than the day before. In total, 11 million shares were bought and sold for approximately ¥97.14 million.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.15% during the next 3 months and, with a 90% probability hold a price between ¥8.55 and ¥11.32 at the end of this 3-month period.
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002326.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 2.05%. 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 Zhejiang Yongtai 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 ¥9.06 and ¥10.12. 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 Zhejiang Yongtai Technology Co., LTD. stock
Zhejiang Yongtai Technology Co., LTD. finds support from accumulated volume at ¥8.88 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ¥0.350 between high and low, or 3.97%. For the last week, the stock has had daily average volatility of 6.59%.
Our recommended stop-loss: ¥8.44 (-5.91%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (002326.SZ) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Zhejiang Yongtai Technology Co., LTD. to open at ¥8.98, and during the day (based on 14 day Average True Range), to move between ¥8.24 and ¥9.70, which gives a possible trading interval of +/-¥0.734 (+/-8.18%) up or down from last closing price. If Zhejiang Yongtai Technology Co., LTD. takes out the full calculated possible swing range there will be an estimated 16.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥8.88 (1.00%) than the resistance at ¥9.72 (8.36%), 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 Yongtai Technology Co., LTD. stock A Buy?
Zhejiang Yongtai 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.509 Hold/Accumulate Upgraded
Predicted Opening Price for Zhejiang Yongtai Technology Co., LTD. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| ¥8.98 ( 0.111%) | ¥8.97 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002326.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.33 | 4.01 % | |
| R2 | 9.20 | 2.52 % | ||
| R1 | 9.11 | 1.60 % | ||
| Current price: | 8.97 | |||
| Support | S1 | 8.85 | -1.38 % | |
| S2 | 8.76 | -2.30 % | ||
| S3 | 8.63 | -3.79 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.96 | 22.19 % | |
| R2 | 10.50 | 17.06 % | ||
| R1 | 9.72 | 8.36 % | ||
| Current price | 8.97 | |||
| Support | S1 | 8.88 | -1.00% | |
| S2 | 8.79 | -2.01% | ||
| S3 | 8.16 | -9.03% |
002326 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 25, 2023 | May 25, 2023 | May 25, 2023 | ¥0.100 | 0.598% |
| 2 | May 24, 2022 | May 24, 2022 | May 24, 2022 | ¥0.100 | 0.375% |
| 3 | Aug 20, 2019 | Aug 20, 2019 | Aug 20, 2019 | ¥0.134 | 1.94% |
| 4 | Jun 22, 2018 | Jun 22, 2018 | Jun 22, 2018 | ¥0.0892 | 1.39% |
| 5 | Jun 24, 2016 | Jun 24, 2016 | Jun 24, 2016 | ¥0.0535 | 0.282% |
FAQ
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