Zhejiang Bangjie Digital Knitting Share Stock Forecast
Zhejiang Bangjie Digital Knitting Share stock downgraded to Sell Candidate
(Updated on Apr 30, 2024)
The Zhejiang Bangjie Digital Knitting Share stock price fell by -2.62% on the last day (Tuesday, 30th Apr 2024) from ¥4.97 to ¥4.84. During the last trading day the stock fluctuated 6.50% from a day low at ¥4.77 to a day high of ¥5.08. The price has fallen in 7 of the last 10 days and is down by -3.2% 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 -768 thousand shares and in total, 4 million shares were bought and sold for approximately ¥20.83 million.
The stock lies in the middle of a very 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 6.64% during the next 3 months and, with a 90% probability hold a price between ¥4.82 and ¥6.52 at the end of this 3-month period.
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002634.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 2.33%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Zhejiang Bangjie Digital Knitting Share 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 ¥4.85 and ¥5.42. A break-up above any of these levels will issue buy signals. 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 Zhejiang Bangjie Digital Knitting Share stock
Zhejiang Bangjie Digital Knitting Share finds support from accumulated volume at ¥4.80 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 ¥0.310 between high and low, or 6.50%. For the last week, the stock has had daily average volatility of 4.62%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002634.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Zhejiang Bangjie Digital Knitting Share to open at ¥4.90, and during the day (based on 14 day Average True Range), to move between ¥4.48 and ¥5.20, which gives a possible trading interval of +/-¥0.365 (+/-7.53%) up or down from last closing price. If Zhejiang Bangjie Digital Knitting Share takes out the full calculated possible swing range there will be an estimated 15.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥4.80 (0.83%) than the resistance at ¥4.99 (3.10%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Zhejiang Bangjie Digital Knitting Share stock A Buy?
The Zhejiang Bangjie Digital Knitting Share stock holds several negative signals and despite the positive trend, we believe Zhejiang Bangjie Digital Knitting Share will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.889 Sell Candidate Downgraded
Predicted Opening Price for Zhejiang Bangjie Digital Knitting Share of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥4.90 ( 1.17%) | ¥4.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002634.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.21 | 7.58 % | |
| R2 | 5.09 | 5.13 % | ||
| R1 | 5.02 | 3.62 % | ||
| Current price: | 4.84 | |||
| Support | S1 | 4.78 | -1.28 % | |
| S2 | 4.71 | -2.79 % | ||
| S3 | 4.59 | -5.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.59 | 15.50 % | |
| R2 | 5.00 | 3.31 % | ||
| R1 | 4.99 | 3.10 % | ||
| Current price | 4.84 | |||
| Support | S1 | 4.80 | -0.83% | |
| S2 | 4.73 | -2.27% | ||
| S3 | 4.17 | -13.84% |
002634 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 22, 2018 | May 22, 2018 | May 22, 2018 | ¥0.0500 | 0.89% |
| 2 | Jun 16, 2017 | Jun 16, 2017 | Jun 16, 2017 | ¥0.0500 | 0.582% |
| 3 | May 12, 2016 | May 12, 2016 | May 12, 2016 | ¥0.0556 | 0.490% |
| 4 | Jul 21, 2015 | Jul 21, 2015 | Jul 21, 2015 | ¥0.0556 | 0.87% |
| 5 | May 30, 2014 | May 30, 2014 | May 30, 2014 | ¥0.0465 | 1.18% |
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