Shanghai Liangxin Electrical Co Ltd Stock Forecast
Volatile ride for Shanghai Liangxin Electrical Co Ltd stock price on Friday moving between ¥7.79 and ¥8.67
(Updated on May 24, 2024)
The Shanghai Liangxin Electrical Co Ltd stock price gained 0.353% on the last trading day (Friday, 24th May 2024), rising from ¥8.49 to ¥8.52. During the last trading day the stock fluctuated 11.30% from a day low at ¥7.79 to a day high of ¥8.67. The price has risen in 6 of the last 10 days and is up by 9.65% over the past 2 weeks. Volume fell on the last day by -10 million shares and in total, 28 million shares were bought and sold for approximately ¥235.96 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 upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ¥8.85 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 3.27% during the next 3 months and, with a 90% probability hold a price between ¥7.41 and ¥9.14 at the end of this 3-month period.
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002706.SZ Signals & Forecast
The Shanghai Liangxin Electrical Co Ltd 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 ¥8.42 and ¥7.75. 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 Wednesday, May 22, 2024, and so far it has fallen -3.07%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Shanghai Liangxin Electrical Co Ltd stock
Shanghai Liangxin Electrical Co Ltd finds support from accumulated volume at ¥8.32 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 ¥0.88 between high and low, or 11.30%. For the last week, the stock has had daily average volatility of 12.66%.
Our recommended stop-loss: ¥8.22 (-3.55%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 25 days ago.)
Trading Expectations (002706.SZ) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Shanghai Liangxin Electrical Co Ltd to open at ¥8.33, and during the day (based on 14 day Average True Range), to move between ¥8.01 and ¥9.03, which gives a possible trading interval of +/-¥0.507 (+/-5.95%) up or down from last closing price. If Shanghai Liangxin Electrical Co Ltd takes out the full calculated possible swing range there will be an estimated 11.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥8.59 (0.82%) than the support at ¥8.32 (2.35%), 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 Shanghai Liangxin Electrical 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 Shanghai Liangxin Electrical Co Ltd stock to perform well in the short-term.
Current score: 2.665 Buy Candidate Unchanged
Predicted Opening Price for Shanghai Liangxin Electrical Co Ltd of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| ¥8.33 ( 2.27%) | ¥8.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002706.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.21 | 8.06 % | |
| R2 | 8.87 | 4.11 % | ||
| R1 | 8.66 | 1.68 % | ||
| Current price: | 8.52 | |||
| Support | S1 | 7.99 | -6.21 % | |
| S2 | 7.78 | -8.65 % | ||
| S3 | 7.45 | -12.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.72 | 2.35 % | |
| R2 | 8.64 | 1.41 % | ||
| R1 | 8.59 | 0.82 % | ||
| Current price | 8.52 | |||
| Support | S1 | 8.32 | -2.35% | |
| S2 | 8.23 | -3.40% | ||
| S3 | 7.83 | -8.10% |
002706 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 14, 2024 | May 14, 2024 | May 14, 2024 | ¥0.250 | 3.26% |
| 2 | May 05, 2023 | May 05, 2023 | May 05, 2023 | ¥0.200 | 1.78% |
| 3 | Sep 23, 2022 | Sep 23, 2022 | Sep 23, 2022 | ¥0.200 | 1.62% |
| 4 | Apr 27, 2021 | Apr 27, 2021 | Apr 27, 2021 | ¥0.231 | 0.93% |
| 5 | Apr 28, 2020 | Apr 28, 2020 | Apr 28, 2020 | ¥0.192 | 2.01% |
FAQ
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