Shandong Head Co Ltd Stock Forecast
Evaluation of Shandong Head Co Ltd stock downgraded after the last trading session.
(Updated on May 17, 2024)
The Shandong Head Co Ltd stock price gained 1.50% on the last trading day (Friday, 17th May 2024), rising from ¥15.34 to ¥15.57. During the last trading day the stock fluctuated 5.80% from a day low at ¥15.18 to a day high of ¥16.06. The price has risen in 7 of the last 10 days and is up by 6.21% over the past 2 weeks. Volume fell on the last day by -811 thousand shares and in total, 4 million shares were bought and sold for approximately ¥65.48 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 very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -6.53% during the next 3 months and, with a 90% probability hold a price between ¥12.14 and ¥15.38 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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002810.SZ Signals & Forecast
The Shandong Head 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 ¥15.54 and ¥14.71. 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 Tuesday, May 07, 2024, and so far it has fallen -6.26%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Shandong Head Co Ltd stock
Shandong Head Co Ltd finds support from accumulated volume at ¥15.51 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ¥0.88 between high and low, or 5.80%. For the last week, the stock has had daily average volatility of 5.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002810.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Shandong Head Co Ltd to open at ¥15.60, and during the day (based on 14 day Average True Range), to move between ¥14.53 and ¥16.61, which gives a possible trading interval of +/-¥1.04 (+/-6.66%) up or down from last closing price. If Shandong Head Co Ltd takes out the full calculated possible swing range there will be an estimated 13.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥15.51 (0.39%) than the resistance at ¥16.00 (2.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Shandong Head Co Ltd stock A Buy?
Shandong Head Co Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.159 Sell Candidate Downgraded
Predicted Opening Price for Shandong Head Co Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥15.60 ( 0.214%) | ¥15.57 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002810.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.48 | 5.87 % | |
| R2 | 16.15 | 3.71 % | ||
| R1 | 15.94 | 2.37 % | ||
| Current price: | 15.57 | |||
| Support | S1 | 15.27 | -1.94 % | |
| S2 | 15.06 | -3.28 % | ||
| S3 | 14.72 | -5.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.61 | 6.68 % | |
| R2 | 16.13 | 3.60 % | ||
| R1 | 16.00 | 2.76 % | ||
| Current price | 15.57 | |||
| Support | S1 | 15.51 | -0.385% | |
| S2 | 14.88 | -4.43% | ||
| S3 | 14.77 | -5.14% |
002810 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 16, 2023 | Jun 16, 2023 | Jun 16, 2023 | ¥0.300 | 1.74% |
| 2 | Jul 15, 2022 | Jul 15, 2022 | Jul 15, 2022 | ¥0.100 | 0.305% |
| 3 | Jul 07, 2020 | Jul 07, 2020 | Jul 07, 2020 | ¥0.235 | 1.18% |
| 4 | May 29, 2019 | May 29, 2019 | May 29, 2019 | ¥0.0735 | 0.85% |
| 5 | Jul 13, 2017 | Jul 13, 2017 | Jul 13, 2017 | ¥0.0153 | 0.163% |
FAQ
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