Shenzhen MTC Co.,Ltd. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Shenzhen MTC Co.,Ltd. stock upgraded to Hold/Accumulate.
(Updated on May 17, 2024)
The Shenzhen MTC Co.,Ltd. stock price gained 0.766% on the last trading day (Friday, 17th May 2024), rising from ¥5.22 to ¥5.26. During the last trading day the stock fluctuated 3.29% from a day low at ¥5.16 to a day high of ¥5.33. The price has been going up and down for this period, and there has been a -3.13% 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, 6 million more shares were traded than the day before. In total, 27 million shares were bought and sold for approximately ¥139.48 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Shenzhen MTC Co.,Ltd. stock with a 90% probability to be traded between ¥4.81 and ¥5.47 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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002429.SZ Signals & Forecast
The Shenzhen MTC Co.,Ltd. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ¥5.30. On a fall, the stock will find some support from the long-term average at approximately ¥5.22. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Thursday, May 16, 2024, and so far it has risen 0.766%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A buy signal from a double bottom formation was found on Friday, April 12, 2024 and based on theory for this formation the price should go up by 1.10% to ¥5.32 within 10 trading days since signal was issued (Monday, May 20, 2024).
Support, Risk & Stop-loss for Shenzhen MTC Co.,Ltd. stock
Shenzhen MTC Co.,Ltd. finds support from accumulated volume at ¥5.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ¥0.170 (3.29%) between high and low. For the last week, the stock has had daily average volatility of 3.10%.
Our recommended stop-loss: ¥4.94 (-5.99%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (002429.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Shenzhen MTC Co.,Ltd. to open at ¥5.25, and during the day (based on 14 day Average True Range), to move between ¥5.06 and ¥5.46, which gives a possible trading interval of +/-¥0.200 (+/-3.80%) up or down from last closing price. If Shenzhen MTC Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 7.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥5.25 (0.19%) than the resistance at ¥5.36 (1.90%), 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 MTC Co.,Ltd. stock A Buy?
Shenzhen MTC 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: -0.584 Hold/Accumulate Upgraded
Predicted Opening Price for Shenzhen MTC Co.,Ltd. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥5.25 ( 0.190%) | ¥5.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002429.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.42 | 3.04 % | |
| R2 | 5.36 | 1.81 % | ||
| R1 | 5.31 | 1.04 % | ||
| Current price: | 5.26 | |||
| Support | S1 | 5.19 | -1.42 % | |
| S2 | 5.14 | -2.19 % | ||
| S3 | 5.08 | -3.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.49 | 4.37 % | |
| R2 | 5.45 | 3.61 % | ||
| R1 | 5.36 | 1.90 % | ||
| Current price | 5.26 | |||
| Support | S1 | 5.25 | -0.190% | |
| S2 | 5.10 | -3.04% | ||
| S3 | 4.99 | -5.13% |
002429 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2023 | Jun 14, 2023 | Jun 14, 2023 | ¥0.0760 | 1.40% |
| 2 | Jun 09, 2017 | Jun 09, 2017 | Jun 09, 2017 | ¥0.0100 | 0.313% |
| 3 | May 18, 2016 | May 18, 2016 | May 18, 2016 | ¥0.0308 | 0.85% |
| 4 | Jun 10, 2015 | Jun 10, 2015 | Jun 10, 2015 | ¥0.0104 | 0.184% |
| 5 | Jun 21, 2013 | Jun 21, 2013 | Jun 21, 2013 | ¥0.0356 | 1.57% |
FAQ
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