ZHONGYEDA ELECTRIC CO.,LTD. Stock Forecast
Red day on Friday for ZHONGYEDA ELECTRIC CO.,LTD.
(Updated on May 17, 2024)
The ZHONGYEDA ELECTRIC CO.,LTD. stock price fell by -0.229% on the last day (Friday, 17th May 2024) from ¥8.75 to ¥8.73. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.85% from a day low at ¥8.64 to a day high of ¥8.80. The price has been going up and down for this period, and there has been a 2.95% gain for the last 2 weeks. Volume has increased on the last day by 295 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 5 million shares were bought and sold for approximately ¥47.58 million.
The stock lies in the middle of a wide and strong 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 10.99% during the next 3 months and, with a 90% probability hold a price between ¥8.34 and ¥10.14 at the end of this 3-month period.
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002441.SZ Signals & Forecast
The ZHONGYEDA ELECTRIC 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 ¥8.87. On a fall, the stock will find some support from the long-term average at approximately ¥8.19. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 14, 2024, and so far it has fallen -3.96%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for ZHONGYEDA ELECTRIC CO.,LTD. stock
ZHONGYEDA ELECTRIC CO.,LTD. finds support from accumulated volume at ¥8.46 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 1.85%. For the last week, the stock has had daily average volatility of 3.20%.
Our recommended stop-loss: ¥8.39 (-3.85%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (002441.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect ZHONGYEDA ELECTRIC CO.,LTD. to open at ¥8.72, and during the day (based on 14 day Average True Range), to move between ¥8.40 and ¥9.06, which gives a possible trading interval of +/-¥0.327 (+/-3.74%) 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 7.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥8.82 (1.03%) than the support at ¥8.46 (3.09%), 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.
Earnings coming up
ZHONGYEDA ELECTRIC CO.,LTD. will release earnings BMO on Thursday, May 23, 2024. We will update the financials statements for ZHONGYEDA ELECTRIC CO.,LTD., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.52% in the first trading day after earnings release.
Is ZHONGYEDA ELECTRIC CO.,LTD. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for ZHONGYEDA ELECTRIC CO.,LTD. stock to perform well in the short-term.
Current score: 1.312 Buy Candidate Unchanged
Predicted Opening Price for ZHONGYEDA ELECTRIC CO.,LTD. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥8.72 ( 0.0764%) | ¥8.73 |
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 | 8.88 | 1.76 % | |
| R2 | 8.82 | 1.06 % | ||
| R1 | 8.78 | 0.624 % | ||
| Current price: | 8.73 | |||
| Support | S1 | 8.66 | -0.776 % | |
| S2 | 8.62 | -1.21 % | ||
| S3 | 8.56 | -1.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.09 | 4.12 % | |
| R2 | 8.96 | 2.63 % | ||
| R1 | 8.82 | 1.03 % | ||
| Current price | 8.73 | |||
| Support | S1 | 8.46 | -3.09% | |
| S2 | 7.95 | -8.93% | ||
| S3 | 7.71 | -11.68% |
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% |
FAQ
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