ZHEJIANG DOUBLE ARROW RUBBER CO., LTD. Stock Forecast
Red day on Friday for ZHEJIANG DOUBLE ARROW RUBBER CO., LTD.
(Updated on May 24, 2024)
No changes to the price of ZHEJIANG DOUBLE ARROW RUBBER CO., LTD. stock on the last trading day (Friday, 24th May 2024). During the last trading day the stock fluctuated 4.49% from a day low at ¥7.35 to a day high of ¥7.68. The price has fallen in 6 of the last 10 days and is down by -6.1% for this period.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥7.34 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 8.13% during the next 3 months and, with a 90% probability hold a price between ¥7.94 and ¥9.52 at the end of this 3-month period.
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002381.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The ZHEJIANG DOUBLE ARROW RUBBER 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 ¥7.61 and ¥8.01. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -13.97%. 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 during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.
Support, Risk & Stop-loss for ZHEJIANG DOUBLE ARROW RUBBER CO., LTD. stock
ZHEJIANG DOUBLE ARROW RUBBER CO., LTD. finds support from accumulated volume at ¥7.19 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 ¥0.330 between high and low, or 4.49%. For the last week, the stock has had daily average volatility of 3.31%.
ZHEJIANG DOUBLE ARROW RUBBER CO., LTD. is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002381.SZ) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect ZHEJIANG DOUBLE ARROW RUBBER CO., LTD. to open at ¥7.47, and during the day (based on 14 day Average True Range), to move between ¥7.09 and ¥7.69, which gives a possible trading interval of +/-¥0.301 (+/-4.07%) up or down from last closing price. If ZHEJIANG DOUBLE ARROW RUBBER CO., LTD. takes out the full calculated possible swing range there will be an estimated 8.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥7.19 (2.71%) than the resistance at ¥7.91 (7.04%), 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 DOUBLE ARROW RUBBER CO., LTD. stock A Buy?
The ZHEJIANG DOUBLE ARROW RUBBER CO., LTD. stock holds several negative signals and despite the positive trend, we believe ZHEJIANG DOUBLE ARROW RUBBER CO., LTD. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.270 Sell Candidate Unchanged
Predicted Opening Price for ZHEJIANG DOUBLE ARROW RUBBER CO., LTD. of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| ¥7.47 ( 1.13%) | ¥7.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002381.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.80 | 5.59 % | |
| R2 | 7.68 | 3.89 % | ||
| R1 | 7.60 | 2.83 % | ||
| Current price: | 7.39 | |||
| Support | S1 | 7.35 | -0.578 % | |
| S2 | 7.27 | -1.63 % | ||
| S3 | 7.14 | -3.34 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.30 | 12.31 % | |
| R2 | 7.97 | 7.85 % | ||
| R1 | 7.91 | 7.04 % | ||
| Current price | 7.39 | |||
| Support | S1 | 7.19 | -2.71% | |
| S2 | 7.17 | -2.98% | ||
| S3 | 6.70 | -9.34% |
002381 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 29, 2024 | Apr 29, 2024 | Apr 29, 2024 | ¥0.250 | 3.18% |
| 2 | May 23, 2023 | May 23, 2023 | May 23, 2023 | ¥0.200 | 2.72% |
| 3 | May 27, 2022 | May 27, 2022 | May 27, 2022 | ¥0.200 | 3.34% |
| 4 | May 12, 2021 | May 12, 2021 | May 12, 2021 | ¥0.500 | 5.64% |
| 5 | Jun 15, 2020 | Jun 15, 2020 | Jun 15, 2020 | ¥0.300 | 3.24% |
FAQ
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