Zhejiang Zhongjian Technology Co Ltd Stock Forecast
Red day on Friday for Zhejiang Zhongjian Technology Co Ltd
(Updated on May 24, 2024)
The Zhejiang Zhongjian Technology Co Ltd stock price fell by -1.83% on the last day (Friday, 24th May 2024) from ¥36.70 to ¥36.03. During the last trading day the stock fluctuated 4.25% from a day low at ¥35.98 to a day high of ¥37.51. The price has fallen in 6 of the last 10 days but is still up by 1.49% over the past 2 weeks. Volume has increased on the last day by 108 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, 943 thousand shares were bought and sold for approximately ¥33.99 million.
The stock lies in the middle of a very 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 6.08% during the next 3 months and, with a 90% probability hold a price between ¥32.58 and ¥40.90 at the end of this 3-month period.
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002779.SZ Signals & Forecast
The Zhejiang Zhongjian Technology 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 ¥36.82. On a fall, the stock will find some support from the long-term average at approximately ¥34.57. 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 Monday, May 20, 2024, and so far it has fallen -3.84%. 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 Zhejiang Zhongjian Technology Co Ltd stock
Zhejiang Zhongjian Technology Co Ltd finds support from accumulated volume at ¥35.21 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 ¥1.53 between high and low, or 4.25%. For the last week, the stock has had daily average volatility of 3.72%.
Our recommended stop-loss: ¥34.84 (-3.30%) (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 (002779.SZ) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Zhejiang Zhongjian Technology Co Ltd to open at ¥36.51, and during the day (based on 14 day Average True Range), to move between ¥33.85 and ¥38.21, which gives a possible trading interval of +/-¥2.18 (+/-6.06%) up or down from last closing price. If Zhejiang Zhongjian Technology Co Ltd takes out the full calculated possible swing range there will be an estimated 12.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥35.21 (2.28%) than the resistance at ¥36.88 (2.36%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Zhejiang Zhongjian Technology 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 Zhejiang Zhongjian Technology Co Ltd stock to perform well in the short-term.
Current score: 2.127 Buy Candidate Unchanged
Predicted Opening Price for Zhejiang Zhongjian Technology Co Ltd of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| ¥36.51 ( 1.32%) | ¥36.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002779.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 38.04 | 5.57 % | |
| R2 | 37.45 | 3.95 % | ||
| R1 | 37.09 | 2.95 % | ||
| Current price: | 36.03 | |||
| Support | S1 | 35.92 | -0.299 % | |
| S2 | 35.56 | -1.30 % | ||
| S3 | 34.98 | -2.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 37.13 | 3.05 % | |
| R2 | 37.02 | 2.75 % | ||
| R1 | 36.88 | 2.36 % | ||
| Current price | 36.03 | |||
| Support | S1 | 35.21 | -2.28% | |
| S2 | 33.60 | -6.74% | ||
| S3 | 32.73 | -9.16% |
002779 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 13, 2023 | Jul 13, 2023 | Jul 13, 2023 | ¥0.0420 | 0.166% |
| 2 | Jul 14, 2022 | Jul 14, 2022 | Jul 14, 2022 | ¥0.0200 | 0.0715% |
| 3 | Jul 23, 2020 | Jul 23, 2020 | Jul 23, 2020 | ¥0.0120 | 0.0759% |
| 4 | Jul 04, 2019 | Jul 04, 2019 | Jul 04, 2019 | ¥0.0180 | 0.113% |
| 5 | Jul 05, 2018 | Jul 05, 2018 | Jul 05, 2018 | ¥0.0360 | 0.179% |
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