Shenzhen Huijie Group Co Ltd Stock Forecast
Shenzhen Huijie Group Co Ltd stock upgraded to Buy Candidate.
(Updated on May 17, 2024)
The Shenzhen Huijie Group Co Ltd stock price gained 0.94% on the last trading day (Friday, 17th May 2024), rising from ¥7.45 to ¥7.52. During the last trading day the stock fluctuated 2.04% from a day low at ¥7.37 to a day high of ¥7.52. The price has risen in 6 of the last 10 days but is still down by -0.79% for this period. Volume fell on the last day by -340 thousand shares and in total, 2 million shares were bought and sold for approximately ¥15.13 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 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 3.48% during the next 3 months and, with a 90% probability hold a price between ¥7.38 and ¥8.18 at the end of this 3-month period.
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002763.SZ Signals & Forecast
The Shenzhen Huijie Group Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥7.47 and ¥7.48. 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 Thursday, May 09, 2024, and so far it has fallen -3.47%. Further fall is indicated until a new bottom pivot has been found.
A sell signal from a double top formation was found on Thursday, May 09, 2024 and based on theory for this formation the price should fall by -13.30% to ¥6.52 within 24 trading days since signal was issued (Monday, May 20, 2024).
Support, Risk & Stop-loss for Shenzhen Huijie Group Co Ltd stock
Shenzhen Huijie Group Co Ltd finds support from accumulated volume at ¥7.46 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 ¥0.150 between high and low, or 2.04%. For the last week, the stock has had daily average volatility of 2.26%.
Our recommended stop-loss: ¥7.20 (-4.31%) (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 (002763.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Shenzhen Huijie Group Co Ltd to open at ¥7.47, and during the day (based on 14 day Average True Range), to move between ¥7.30 and ¥7.74, which gives a possible trading interval of +/-¥0.216 (+/-2.88%) up or down from last closing price. If Shenzhen Huijie Group Co Ltd takes out the full calculated possible swing range there will be an estimated 5.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥7.57 (0.66%) than the support at ¥7.46 (0.80%), 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 Shenzhen Huijie 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 Shenzhen Huijie Group Co Ltd stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.845 Buy Candidate Upgraded
Predicted Opening Price for Shenzhen Huijie Group Co Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥7.47 ( 0.665%) | ¥7.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002763.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.62 | 1.33 % | |
| R2 | 7.56 | 0.568 % | ||
| R1 | 7.53 | 0.0971 % | ||
| Current price: | 7.52 | |||
| Support | S1 | 7.41 | -1.43 % | |
| S2 | 7.38 | -1.90 % | ||
| S3 | 7.32 | -2.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.79 | 3.59 % | |
| R2 | 7.61 | 1.20 % | ||
| R1 | 7.57 | 0.665 % | ||
| Current price | 7.52 | |||
| Support | S1 | 7.46 | -0.798% | |
| S2 | 7.21 | -4.12% | ||
| S3 | 7.04 | -6.38% |
002763 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 10, 2024 | May 10, 2024 | May 10, 2024 | ¥0.400 | 5.45% |
| 2 | Jun 07, 2023 | Jun 07, 2023 | Jun 07, 2023 | ¥0.500 | 6.02% |
| 3 | Jun 09, 2021 | Jun 09, 2021 | Jun 09, 2021 | ¥1.00 | 10.87% |
| 4 | Jun 05, 2020 | Jun 05, 2020 | Jun 05, 2020 | ¥0.400 | 5.50% |
| 5 | May 27, 2019 | May 27, 2019 | May 27, 2019 | ¥0.450 | 4.85% |
FAQ
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