Hangzhou Innover Technology Co Ltd Stock Forecast
High volatility in Hangzhou Innover Technology Co Ltd stock price on Monday which ended trading at ¥13.77
(Updated on Jun 17, 2024)
The Hangzhou Innover Technology Co Ltd stock price fell by -6.52% on the last day (Monday, 17th Jun 2024) from ¥14.73 to ¥13.77. During the last trading day the stock fluctuated 10.04% from a day low at ¥13.45 to a day high of ¥14.80. The price has been going up and down for this period, and there has been a 11.68% gain for the last 2 weeks. Volume has increased on the last day by 935 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 27 million shares were bought and sold for approximately ¥375.80 million.
The stock lies the upper part of a very wide and falling 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 ¥14.71 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -5.66% during the next 3 months and, with a 90% probability hold a price between ¥9.00 and ¥13.88 at the end of this 3-month period.
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002767.SZ Signals & Forecast
The Hangzhou Innover Technology 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 ¥12.50 and ¥12.56. 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). 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 Friday, June 14, 2024, and so far it has fallen -6.52%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Hangzhou Innover Technology Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥12.63 and ¥12.50. 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, Hangzhou Innover Technology Co Ltd finds support just below today's level at ¥12.63. If this is broken, then the next support from accumulated volume will be at ¥12.50 and ¥12.47.
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 ¥1.35 between high and low, or 10.04%. For the last week, the stock has had daily average volatility of 17.79%.
Our recommended stop-loss: ¥13.11 (-4.82%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 39 days ago.)
Trading Expectations (002767.SZ) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Hangzhou Innover Technology Co Ltd to open at ¥14.01, and during the day (based on 14 day Average True Range), to move between ¥12.61 and ¥14.93, which gives a possible trading interval of +/-¥1.16 (+/-8.44%) up or down from last closing price. If Hangzhou Innover Technology Co Ltd takes out the full calculated possible swing range there will be an estimated 16.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥13.84 (0.51%) than the support at ¥12.63 (8.28%), 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 Hangzhou Innover Technology Co Ltd stock A Buy?
Hangzhou Innover Technology Co Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.389 Hold/Accumulate Unchanged
Predicted Opening Price for Hangzhou Innover Technology Co Ltd of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ¥14.01 ( 1.72%) | ¥13.77 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002767.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.36 | 11.52% |
| R2 | 14.84 | 7.78% |
| R1 | 14.52 | 5.46% |
| Price | 13.77 | |
| S1 | 13.49 | -2.03% |
| S2 | 13.17 | -4.34% |
| S3 | 12.66 | -8.09% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.73 | 6.97% |
| R2 | 13.95 | 1.31% |
| R1 | 13.84 | 0.508% |
| Price | 13.77 | |
| S1 | 12.63 | -8.28% |
| S2 | 12.50 | -9.22% |
| S3 | 12.47 | -9.44% |
002767 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | ¥0.0270 | 0.257% |
| 2 | Jul 01, 2021 | Jul 01, 2021 | Jul 01, 2021 | ¥0.0280 | 0.191% |
| 3 | Jul 10, 2020 | Jul 10, 2020 | Jul 10, 2020 | ¥0.0350 | 0.249% |
| 4 | Jul 12, 2019 | Jul 12, 2019 | Jul 12, 2019 | ¥0.0310 | 0.181% |
| 5 | Jul 05, 2018 | Jul 05, 2018 | Jul 05, 2018 | ¥0.0560 | 0.379% |
FAQ
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