Shenzhen Soling Industrial Co Ltd Stock Forecast
Big movements in Shenzhen Soling Industrial Co Ltd stock price on Monday moving 13.67% between high and low
(Updated on Jun 17, 2024)
The Shenzhen Soling Industrial Co Ltd stock price gained 10.05% on the last trading day (Monday, 17th Jun 2024), rising from ¥4.08 to ¥4.49. During the last trading day the stock fluctuated 13.67% from a day low at ¥3.95 to a day high of ¥4.49. The price has risen in 6 of the last 10 days and is up by 7.16% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 19 million more shares were traded than the day before. In total, 40 million shares were bought and sold for approximately ¥178.19 million.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is ¥4.45, a level that may pose a second chance to hit a runner. According to fan-theory ¥5.70 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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002766.SZ Signals & Forecast
Mostly positive signals in the chart today. The Shenzhen Soling Industrial 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 ¥4.00 and ¥4.24. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 20.70%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Shenzhen Soling Industrial Co Ltd stock
Shenzhen Soling Industrial Co Ltd finds support from accumulated volume at ¥4.39 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 ¥0.540 between high and low, or 13.67%. For the last week, the stock has had daily average volatility of 8.50%.
Our recommended stop-loss: ¥4.32 (-3.78%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (002766.SZ) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Shenzhen Soling Industrial Co Ltd to open at ¥4.31, and during the day (based on 14 day Average True Range), to move between ¥4.21 and ¥4.77, which gives a possible trading interval of +/-¥0.275 (+/-6.13%) up or down from last closing price. If Shenzhen Soling Industrial Co Ltd takes out the full calculated possible swing range there will be an estimated 12.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥4.55 (1.34%) than the support at ¥4.39 (2.23%), 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 Soling Industrial Co Ltd stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.191 Buy Candidate Upgraded
Predicted Opening Price for Shenzhen Soling Industrial Co Ltd of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ¥4.31 ( 4.01%) | ¥4.49 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002766.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.85 | 8.02% |
| R2 | 4.64 | 3.42% |
| R1 | 4.52 | 0.585% |
| Price | 4.49 | |
| S1 | 4.10 | -8.60% |
| S2 | 3.98 | -11.44% |
| S3 | 3.77 | -16.04% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.58 | 2.00% |
| R2 | 4.57 | 1.78% |
| R1 | 4.55 | 1.34% |
| Price | 4.49 | |
| S1 | 4.39 | -2.23% |
| S2 | 4.32 | -3.79% |
| S3 | 3.94 | -12.25% |
002766 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 16, 2018 | Jul 16, 2018 | Jul 16, 2018 | ¥0.0250 | 0.304% |
| 2 | Jul 13, 2017 | Jul 13, 2017 | Jul 13, 2017 | ¥0.0500 | 0.151% |
| 3 | Jul 14, 2016 | Jul 14, 2016 | Jul 14, 2016 | ¥0.0540 | 0.265% |
FAQ
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