Shenzhen Hemei Group Co Ltd Stock Forecast
Shenzhen Hemei Group Co Ltd stock upgraded to Sell Candidate.
(Updated on Jul 02, 2024)
The Shenzhen Hemei Group Co Ltd stock price gained 1.29% on the last trading day (Tuesday, 2nd Jul 2024), rising from ¥3.10 to ¥3.14. During the last trading day the stock fluctuated 3.59% from a day low at ¥3.06 to a day high of ¥3.17. The price has been going up and down for this period, and there has been a -8.72% 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, 2 million more shares were traded than the day before. In total, 6 million shares were bought and sold for approximately ¥20.36 million.
The stock lies in the middle of a very 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 -20.73% during the next 3 months and, with a 90% probability hold a price between ¥2.11 and ¥2.85 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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002356.SZ Signals & Forecast
There are mixed signals in the stock today. The Shenzhen Hemei Group Co Ltd 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 ¥3.36. On a fall, the stock will find some support from the short-term average at ¥3.13. 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 Wednesday, June 12, 2024, and so far it has fallen -17.59%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Shenzhen Hemei Group Co Ltd stock
Shenzhen Hemei Group Co Ltd finds support from accumulated volume at ¥3.11 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 ¥0.110 between high and low, or 3.59%. For the last week, the stock has had daily average volatility of 3.57%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002356.SZ) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Shenzhen Hemei Group Co Ltd to open at ¥3.12, and during the day (based on 14 day Average True Range), to move between ¥2.92 and ¥3.36, which gives a possible trading interval of +/-¥0.219 (+/-6.96%) up or down from last closing price. If Shenzhen Hemei Group Co Ltd takes out the full calculated possible swing range there will be an estimated 13.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥3.11 (0.96%) than the resistance at ¥3.44 (9.55%), 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 Hemei Group Co Ltd stock A Buy?
Shenzhen Hemei Group Co Ltd 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.215 Sell Candidate Upgraded
Predicted Opening Price for Shenzhen Hemei Group Co Ltd of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| ¥3.12 ( 0.531%) | ¥3.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002356.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.23 | 2.97% |
| R2 | 3.19 | 1.63% |
| R1 | 3.17 | 0.81% |
| Price | 3.14 | |
| S1 | 3.08 | -1.87% |
| S2 | 3.06 | -2.70% |
| S3 | 3.01 | -4.03% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.81 | 21.34% |
| R2 | 3.67 | 16.88% |
| R1 | 3.44 | 9.55% |
| Price | 3.14 | |
| S1 | 3.11 | -0.96% |
| S2 | 3.08 | -1.91% |
| S3 | 3.01 | -4.14% |
002356 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 17, 2018 | Jul 17, 2018 | Jul 17, 2018 | ¥0.0588 | 0.509% |
| 2 | Jul 17, 2017 | Jul 17, 2017 | Jul 17, 2017 | ¥0.0588 | 0.396% |
| 3 | Jun 03, 2016 | Jun 03, 2016 | Jun 03, 2016 | ¥0.0412 | 0.298% |
| 4 | May 07, 2015 | May 07, 2015 | May 07, 2015 | ¥0.0294 | 0.194% |
| 5 | May 29, 2014 | May 29, 2014 | May 29, 2014 | ¥0.0490 | 0.87% |
FAQ
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