Shenzhen H&T Intelligent Control Co Ltd Stock Forecast
Shenzhen H&T Intelligent Control Co Ltd stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 17, 2024)
The Shenzhen H&T Intelligent Control Co Ltd stock price gained 2.69% on the last trading day (Friday, 17th May 2024), rising from ¥11.52 to ¥11.83. During the last trading day the stock fluctuated 2.96% from a day low at ¥11.49 to a day high of ¥11.83. The price has fallen in 5 of the last 10 days and is down by -1.99% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 555 thousand more shares were traded than the day before. In total, 15 million shares were bought and sold for approximately ¥180.19 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 -7.99% during the next 3 months and, with a 90% probability hold a price between ¥9.31 and ¥11.86 at the end of this 3-month period.
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002402.SZ Signals & Forecast
The Shenzhen H&T Intelligent Control Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥11.66 and ¥11.70. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -2.23%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Shenzhen H&T Intelligent Control Co Ltd stock
Shenzhen H&T Intelligent Control Co Ltd finds support from accumulated volume at ¥11.81 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 ¥0.340 between high and low, or 2.96%. For the last week, the stock has had daily average volatility of 3.34%.
Our recommended stop-loss: ¥11.31 (-4.40%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (002402.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Shenzhen H&T Intelligent Control Co Ltd to open at ¥11.72, and during the day (based on 14 day Average True Range), to move between ¥11.39 and ¥12.27, which gives a possible trading interval of +/-¥0.443 (+/-3.75%) up or down from last closing price. If Shenzhen H&T Intelligent Control Co Ltd takes out the full calculated possible swing range there will be an estimated 7.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥11.81 (0.17%) than the resistance at ¥12.06 (1.94%), 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 H&T Intelligent Control Co Ltd stock A Buy?
Shenzhen H&T Intelligent Control Co Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: -0.154 Hold/Accumulate Upgraded
Predicted Opening Price for Shenzhen H&T Intelligent Control Co Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥11.72 ( 0.96%) | ¥11.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002402.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.06 | 1.92 % | |
| R2 | 11.93 | 0.82 % | ||
| R1 | 11.85 | 0.140 % | ||
| Current price: | 11.83 | |||
| Support | S1 | 11.59 | -2.06 % | |
| S2 | 11.51 | -2.73 % | ||
| S3 | 11.38 | -3.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.10 | 2.28 % | |
| R2 | 12.09 | 2.20 % | ||
| R1 | 12.06 | 1.94 % | ||
| Current price | 11.83 | |||
| Support | S1 | 11.81 | -0.169% | |
| S2 | 11.60 | -1.94% | ||
| S3 | 11.33 | -4.23% |
002402 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2024 | May 09, 2024 | May 09, 2024 | ¥0.151 | 1.28% |
| 2 | May 04, 2023 | May 04, 2023 | May 04, 2023 | ¥0.100 | 0.639% |
| 3 | Apr 27, 2022 | Apr 27, 2022 | Apr 27, 2022 | ¥0.100 | 0.766% |
| 4 | Mar 31, 2021 | Mar 31, 2021 | Mar 31, 2021 | ¥0.100 | 0.487% |
| 5 | May 14, 2020 | May 14, 2020 | May 14, 2020 | ¥0.0600 | 0.397% |
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