Shenzhen INVT Electric Co Ltd Stock Forecast
Volatile ride for Shenzhen INVT Electric Co Ltd stock price on Friday moving between ¥6.70 and ¥7.82
(Updated on Apr 19, 2024)
The Shenzhen INVT Electric Co Ltd stock price fell by -3.01% on the last day (Friday, 19th Apr 2024) from ¥6.97 to ¥6.76. During the last trading day the stock fluctuated 16.72% from a day low at ¥6.70 to a day high of ¥7.82. The price has fallen in 6 of the last 10 days and is down by -15.08% for this period. 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 -38 million shares and in total, 28 million shares were bought and sold for approximately ¥188.58 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 ¥6.55 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 16.70% during the next 3 months and, with a 90% probability hold a price between ¥7.65 and ¥10.76 at the end of this 3-month period.
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002334.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Shenzhen INVT Electric 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 ¥7.38 and ¥7.98. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 18, 2024, and so far it has fallen -22.48%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Shenzhen INVT Electric Co Ltd stock
Shenzhen INVT Electric Co Ltd finds support from accumulated volume at ¥6.62 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 ¥1.12 between high and low, or 16.72%. For the last week, the stock has had daily average volatility of 10.47%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002334.SZ) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Shenzhen INVT Electric Co Ltd to open at ¥7.09, and during the day (based on 14 day Average True Range), to move between ¥6.28 and ¥7.24, which gives a possible trading interval of +/-¥0.480 (+/-7.10%) up or down from last closing price. If Shenzhen INVT Electric Co Ltd takes out the full calculated possible swing range there will be an estimated 14.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥6.62 (2.07%) than the resistance at ¥6.97 (3.11%), 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 INVT Electric Co Ltd stock A Buy?
The Shenzhen INVT Electric Co Ltd stock holds several negative signals and despite the positive trend, we believe Shenzhen INVT Electric Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.645 Sell Candidate Unchanged
Predicted Opening Price for Shenzhen INVT Electric Co Ltd of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| ¥7.09 ( 4.93%) | ¥6.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002334.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.21 | 21.50 % | |
| R2 | 7.79 | 15.17 % | ||
| R1 | 7.52 | 11.26 % | ||
| Current price: | 6.76 | |||
| Support | S1 | 6.67 | -1.40 % | |
| S2 | 6.40 | -5.31 % | ||
| S3 | 5.97 | -11.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.25 | 22.04 % | |
| R2 | 8.09 | 19.67 % | ||
| R1 | 6.97 | 3.11 % | ||
| Current price | 6.76 | |||
| Support | S1 | 6.62 | -2.07% | |
| S2 | 5.97 | -11.69% | ||
| S3 | 5.46 | -19.23% |
002334 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2023 | May 30, 2023 | May 30, 2023 | ¥0.0600 | 0.480% |
| 2 | May 22, 2019 | May 22, 2019 | May 22, 2019 | ¥0.0500 | 0.95% |
| 3 | May 10, 2018 | May 10, 2018 | May 10, 2018 | ¥0.150 | 2.07% |
| 4 | Apr 27, 2017 | Apr 27, 2017 | Apr 27, 2017 | ¥0.0500 | 0.654% |
| 5 | May 04, 2016 | May 04, 2016 | May 04, 2016 | ¥0.0500 | 0.554% |
FAQ
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