Zanyu Technology Group Co Ltd Stock Forecast
Red day on Wednesday for Zanyu Technology Group Co Ltd
(Updated on May 15, 2024)
The Zanyu Technology Group Co Ltd stock price fell by -0.624% on the last day (Wednesday, 15th May 2024) from ¥9.62 to ¥9.56. During the last trading day the stock fluctuated 3.75% from a day low at ¥9.34 to a day high of ¥9.69. The price has fallen in 6 of the last 10 days but is still up by 3.91% over the past 2 weeks. 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 -2 million shares and in total, 2 million shares were bought and sold for approximately ¥22.99 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 21.46% during the next 3 months and, with a 90% probability hold a price between ¥10.28 and ¥12.11 at the end of this 3-month period.
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002637.SZ Signals & Forecast
The Zanyu Technology Group 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 ¥9.62. On a fall, the stock will find some support from the long-term average at approximately ¥8.92. 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 07, 2024, and so far it has fallen -2.35%. Further fall is indicated until a new bottom pivot has been found. 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 Zanyu Technology Group Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥9.01 and ¥8.60. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Zanyu Technology Group Co Ltd finds support just below today's level at ¥9.01. If this is broken, then the next support from accumulated volume will be at ¥8.60 and ¥8.45.
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 ¥0.350 between high and low, or 3.75%. For the last week, the stock has had daily average volatility of 3.90%.
Our recommended stop-loss: ¥9.16 (-4.20%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (002637.SZ) For The Upcoming Trading Day Of Thursday 16th
For the upcoming trading day on Thursday, 16th we expect Zanyu Technology Group Co Ltd to open at ¥9.53, and during the day (based on 14 day Average True Range), to move between ¥9.11 and ¥10.01, which gives a possible trading interval of +/-¥0.449 (+/-4.70%) up or down from last closing price. If Zanyu Technology Group Co Ltd takes out the full calculated possible swing range there will be an estimated 9.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥9.59 (0.31%) than the support at ¥9.01 (5.75%), 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 Zanyu Technology Group 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 Zanyu Technology Group Co Ltd stock to perform well in the short-term.
Current score: 1.676 Buy Candidate Unchanged
Predicted Opening Price for Zanyu Technology Group Co Ltd of Thursday, May 16, 2024
| Fair opening price May 16, 2024 | Current price |
|---|---|
| ¥9.53 ( 0.314%) | ¥9.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002637.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.88 | 3.35 % | |
| R2 | 9.75 | 1.95 % | ||
| R1 | 9.66 | 1.08 % | ||
| Current price: | 9.56 | |||
| Support | S1 | 9.40 | -1.71 % | |
| S2 | 9.31 | -2.58 % | ||
| S3 | 9.18 | -3.97 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.79 | 2.41 % | |
| R2 | 9.62 | 0.628 % | ||
| R1 | 9.59 | 0.314 % | ||
| Current price | 9.56 | |||
| Support | S1 | 9.01 | -5.75% | |
| S2 | 8.60 | -10.04% | ||
| S3 | 8.45 | -11.61% |
002637 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 06, 2023 | Jun 06, 2023 | Jun 06, 2023 | ¥0.100 | 1.00% |
| 2 | Jun 20, 2022 | Jun 20, 2022 | Jun 20, 2022 | ¥0.200 | 1.24% |
| 3 | May 19, 2021 | May 19, 2021 | May 19, 2021 | ¥0.150 | 1.04% |
| 4 | Jun 04, 2020 | Jun 04, 2020 | Jun 04, 2020 | ¥0.100 | 0.91% |
| 5 | Jul 04, 2019 | Jul 04, 2019 | Jul 04, 2019 | ¥0.100 | 1.40% |
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