ZHONGYEDA ELECTRIC CO.,LTD. Stock Forecast
ZHONGYEDA ELECTRIC CO.,LTD. stock price ended at ¥7.70 on Friday, after losing 0.388%.
(Updated on Apr 19, 2024)
The ZHONGYEDA ELECTRIC CO.,LTD. stock price fell by -0.388% on the last day (Friday, 19th Apr 2024) from ¥7.73 to ¥7.70. During the last trading day the stock fluctuated 5.92% from a day low at ¥7.60 to a day high of ¥8.05. The price has fallen in 6 of the last 10 days and is down by -5.52% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -959 thousand shares and in total, 4 million shares were bought and sold for approximately ¥28.42 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.64% during the next 3 months and, with a 90% probability hold a price between ¥7.10 and ¥8.87 at the end of this 3-month period.
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002441.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The ZHONGYEDA ELECTRIC 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 ¥7.73 and ¥7.96. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -7.78%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for ZHONGYEDA ELECTRIC CO.,LTD. stock
ZHONGYEDA ELECTRIC CO.,LTD. finds support from accumulated volume at ¥7.55 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 ¥0.450 between high and low, or 5.92%. For the last week, the stock has had daily average volatility of 7.98%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002441.SZ) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect ZHONGYEDA ELECTRIC CO.,LTD. to open at ¥7.78, and during the day (based on 14 day Average True Range), to move between ¥7.32 and ¥8.08, which gives a possible trading interval of +/-¥0.377 (+/-4.89%) up or down from last closing price. If ZHONGYEDA ELECTRIC CO.,LTD. takes out the full calculated possible swing range there will be an estimated 9.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥7.71 (0.13%) than the support at ¥7.55 (1.95%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is ZHONGYEDA ELECTRIC CO.,LTD. stock A Buy?
The ZHONGYEDA ELECTRIC CO.,LTD. stock holds several negative signals and despite the positive trend, we believe ZHONGYEDA ELECTRIC CO.,LTD. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.546 Sell Candidate Unchanged
Predicted Opening Price for ZHONGYEDA ELECTRIC CO.,LTD. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| ¥7.78 ( 1.08%) | ¥7.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002441.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.23 | 6.93 % | |
| R2 | 8.06 | 4.69 % | ||
| R1 | 7.96 | 3.31 % | ||
| Current price: | 7.70 | |||
| Support | S1 | 7.61 | -1.15 % | |
| S2 | 7.51 | -2.53 % | ||
| S3 | 7.33 | -4.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.06 | 4.68 % | |
| R2 | 7.96 | 3.38 % | ||
| R1 | 7.71 | 0.130 % | ||
| Current price | 7.70 | |||
| Support | S1 | 7.55 | -1.95% | |
| S2 | 7.31 | -5.06% | ||
| S3 | 6.47 | -15.97% |
002441 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 06, 2023 | Jul 06, 2023 | Jul 06, 2023 | ¥0.350 | 3.18% |
| 2 | Jul 08, 2022 | Jul 08, 2022 | Jul 08, 2022 | ¥0.350 | 3.82% |
| 3 | Jul 09, 2021 | Jul 09, 2021 | Jul 09, 2021 | ¥0.250 | 3.11% |
| 4 | Jul 09, 2020 | Jul 09, 2020 | Jul 09, 2020 | ¥0.220 | 2.53% |
| 5 | Jul 09, 2019 | Jul 09, 2019 | Jul 09, 2019 | ¥0.210 | 2.68% |
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