Shenzhen Mingdiao Decoration Co Ltd Stock Forecast
Shenzhen Mingdiao Decoration Co Ltd stock downgraded from Strong Buy Candidate to Buy Candidate after Friday trading session.
(Updated on May 17, 2024)
The Shenzhen Mingdiao Decoration Co Ltd stock price fell by -0.98% on the last day (Friday, 17th May 2024) from ¥12.26 to ¥12.14. During the last trading day the stock fluctuated 8.97% from a day low at ¥11.71 to a day high of ¥12.76. The price has risen in 6 of the last 10 days and is up by 7.72% over the past 2 weeks. Volume has increased on the last day by 558 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, 3 million shares were bought and sold for approximately ¥36.81 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 9.95% during the next 3 months and, with a 90% probability hold a price between ¥10.46 and ¥14.14 at the end of this 3-month period.
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002830.SZ Signals & Forecast
The Shenzhen Mingdiao Decoration 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 ¥11.81 and ¥11.12. 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 Thursday, May 16, 2024, and so far it has fallen -0.98%. 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 Shenzhen Mingdiao Decoration Co Ltd stock
Shenzhen Mingdiao Decoration Co Ltd finds support from accumulated volume at ¥12.01 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 ¥1.05 between high and low, or 8.97%. For the last week, the stock has had daily average volatility of 5.20%.
Our recommended stop-loss: ¥11.79 (-2.89%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (002830.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Shenzhen Mingdiao Decoration Co Ltd to open at ¥12.20, and during the day (based on 14 day Average True Range), to move between ¥11.42 and ¥12.86, which gives a possible trading interval of +/-¥0.717 (+/-5.90%) up or down from last closing price. If Shenzhen Mingdiao Decoration Co Ltd takes out the full calculated possible swing range there will be an estimated 11.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥12.26 (0.99%) than the support at ¥12.01 (1.07%), 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 Mingdiao Decoration 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 Mingdiao Decoration Co Ltd stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 2.830 Buy Candidate Downgraded
Predicted Opening Price for Shenzhen Mingdiao Decoration Co Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥12.20 ( 0.522%) | ¥12.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002830.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.25 | 9.17 % | |
| R2 | 12.85 | 5.87 % | ||
| R1 | 12.60 | 3.83 % | ||
| Current price: | 12.14 | |||
| Support | S1 | 11.80 | -2.78 % | |
| S2 | 11.55 | -4.82 % | ||
| S3 | 11.15 | -8.13 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 12.26 | 0.99 % | ||
| Current price | 12.14 | |||
| Support | S1 | 12.01 | -1.07% | |
| S2 | 11.50 | -5.27% | ||
| S3 | 11.26 | -7.25% |
002830 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 07, 2023 | Jun 07, 2023 | Jun 07, 2023 | ¥0.120 | 0.95% |
| 2 | Jun 08, 2022 | Jun 08, 2022 | Jun 08, 2022 | ¥0.150 | 1.45% |
| 3 | Jun 09, 2021 | Jun 09, 2021 | Jun 09, 2021 | ¥0.120 | 1.21% |
| 4 | May 26, 2020 | May 26, 2020 | May 26, 2020 | ¥0.130 | 1.12% |
| 5 | May 30, 2019 | May 30, 2019 | May 30, 2019 | ¥0.160 | 1.11% |
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