Suzhou Victory Precision Manufctr Co Ltd Stock Forecast
Volatile ride for Suzhou Victory Precision Manufctr Co Ltd stock price on Tuesday moving between ¥1.57 and ¥1.73
(Updated on Apr 30, 2024)
The Suzhou Victory Precision Manufctr Co Ltd stock price gained 1.18% on the last trading day (Tuesday, 30th Apr 2024), rising from ¥1.70 to ¥1.72. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 10.19% from a day low at ¥1.57 to a day high of ¥1.73. The price has risen in 5 of the last 10 days and is up by 19.44% over the past 2 weeks. Volume fell on the last day by -58 million shares and in total, 92 million shares were bought and sold for approximately ¥159.08 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 -2.87% during the next 3 months and, with a 90% probability hold a price between ¥1.33 and ¥1.87 at the end of this 3-month period.
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002426.SZ Signals & Forecast
Mostly positive signals in the chart today. The Suzhou Victory Precision Manufctr 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 ¥1.55 and ¥1.71. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 20.28%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Suzhou Victory Precision Manufctr Co Ltd stock
Suzhou Victory Precision Manufctr Co Ltd finds support from accumulated volume at ¥1.70 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 ¥0.160 between high and low, or 10.19%. For the last week, the stock has had daily average volatility of 9.38%.
Our recommended stop-loss: ¥1.66 (-3.48%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (002426.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Suzhou Victory Precision Manufctr Co Ltd to open at ¥1.67, and during the day (based on 14 day Average True Range), to move between ¥1.59 and ¥1.85, which gives a possible trading interval of +/-¥0.133 (+/-7.72%) up or down from last closing price. If Suzhou Victory Precision Manufctr Co Ltd takes out the full calculated possible swing range there will be an estimated 15.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥1.70 (1.16%) than the resistance at ¥1.76 (2.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Suzhou Victory Precision Manufctr Co Ltd stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.507 Buy Candidate Upgraded
Predicted Opening Price for Suzhou Victory Precision Manufctr Co Ltd of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥1.67 ( 2.71%) | ¥1.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002426.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.83 | 6.59 % | |
| R2 | 1.77 | 3.04 % | ||
| R1 | 1.73 | 0.84 % | ||
| Current price: | 1.72 | |||
| Support | S1 | 1.61 | -6.27 % | |
| S2 | 1.57 | -8.46 % | ||
| S3 | 1.51 | -12.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.90 | 10.47 % | |
| R2 | 1.80 | 4.65 % | ||
| R1 | 1.76 | 2.33 % | ||
| Current price | 1.72 | |||
| Support | S1 | 1.70 | -1.16% | |
| S2 | 1.69 | -1.74% | ||
| S3 | 1.45 | -15.70% |
002426 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 01, 2018 | Jun 01, 2018 | Jun 01, 2018 | ¥0.0300 | 0.713% |
| 2 | Jul 11, 2017 | Jul 11, 2017 | Jul 11, 2017 | ¥0.0300 | 0.393% |
| 3 | Jun 21, 2016 | Jun 21, 2016 | Jun 21, 2016 | ¥0.0500 | 0.524% |
| 4 | Jun 11, 2015 | Jun 11, 2015 | Jun 11, 2015 | ¥0.0400 | 0.461% |
| 5 | Apr 21, 2014 | Apr 21, 2014 | Apr 21, 2014 | ¥0.0200 | 0.555% |
FAQ
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