Shenke Slide Bearing Corp Stock Forecast
Weaker technical forecast for Shenke Slide Bearing Corp as stock downgraded to Hold/Accumulate.
(Updated on May 17, 2024)
The Shenke Slide Bearing Corp stock price gained 1.10% on the last trading day (Friday, 17th May 2024), rising from ¥7.25 to ¥7.33. During the last trading day the stock fluctuated 3.64% from a day low at ¥7.14 to a day high of ¥7.40. The price has been going up and down for this period, and there has been a 11.91% gain for the last 2 weeks. Volume fell on the last day by -651 thousand shares and in total, 4 million shares were bought and sold for approximately ¥28.85 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 -5.85% during the next 3 months and, with a 90% probability hold a price between ¥5.45 and ¥7.77 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
002633.SZ Signals & Forecast
The Shenke Slide Bearing Corp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ¥7.24 and ¥7.22. 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 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. 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 -0.81%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Shenke Slide Bearing Corp stock
Shenke Slide Bearing Corp finds support from accumulated volume at ¥7.28 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 ¥0.260 between high and low, or 3.64%. For the last week, the stock has had daily average volatility of 6.26%.
Our recommended stop-loss: ¥7.07 (-3.54%) (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 (002633.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Shenke Slide Bearing Corp to open at ¥7.29, and during the day (based on 14 day Average True Range), to move between ¥6.75 and ¥7.91, which gives a possible trading interval of +/-¥0.579 (+/-7.91%) up or down from last closing price. If Shenke Slide Bearing Corp takes out the full calculated possible swing range there will be an estimated 15.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥7.34 (0.14%) than the support at ¥7.28 (0.68%), 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 Shenke Slide Bearing Corp stock A Buy?
Shenke Slide Bearing Corp 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.505 Hold/Accumulate Downgraded
Predicted Opening Price for Shenke Slide Bearing Corp of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥7.29 ( 0.546%) | ¥7.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002633.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.55 | 3.00 % | |
| R2 | 7.45 | 1.65 % | ||
| R1 | 7.39 | 0.81 % | ||
| Current price: | 7.33 | |||
| Support | S1 | 7.19 | -1.90 % | |
| S2 | 7.13 | -2.74 % | ||
| S3 | 7.03 | -4.09 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.56 | 16.78 % | |
| R2 | 7.39 | 0.82 % | ||
| R1 | 7.34 | 0.136 % | ||
| Current price | 7.33 | |||
| Support | S1 | 7.28 | -0.682% | |
| S2 | 6.55 | -10.64% | ||
| S3 | 6.27 | -14.46% |
002633 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 25, 2012 | May 25, 2012 | May 25, 2012 | ¥0.133 | 1.55% |
FAQ
Click here for our free guide on how to buy Shenke Slide Bearing Corp Stock.
