ShenZhen YUTO Packaging Tech Co Ltd Stock Forecast
Stronger technical forecast for ShenZhen YUTO Packaging Tech Co Ltd stock price after Tuesday trading.
(Updated on Jun 18, 2024)
The ShenZhen YUTO Packaging Tech Co Ltd stock price gained 0.342% on the last trading day (Tuesday, 18th Jun 2024), rising from ¥26.32 to ¥26.41. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.62% from a day low at ¥25.76 to a day high of ¥26.95. The price has risen in 8 of the last 10 days and is up by 6.41% 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, 260 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately ¥77.50 million.
The stock lies in the middle of a 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 5.66% during the next 3 months and, with a 90% probability hold a price between ¥26.50 and ¥29.76 at the end of this 3-month period.
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002831.SZ Signals & Forecast
Mostly positive signals in the chart today. The ShenZhen YUTO Packaging Tech 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 ¥26.05 and ¥26.37. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 03, 2024, and so far it has risen 6.41%. 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.
A buy signal from a double bottom formation was found on Tuesday, April 16, 2024 with a target of ¥25.11. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for ShenZhen YUTO Packaging Tech Co Ltd stock
ShenZhen YUTO Packaging Tech Co Ltd finds support from accumulated volume at ¥26.31 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 ¥1.19 between high and low, or 4.62%. For the last week, the stock has had daily average volatility of 3.07%.
Our recommended stop-loss: ¥24.88 (-5.80%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (002831.SZ) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect ShenZhen YUTO Packaging Tech Co Ltd to open at ¥26.37, and during the day (based on 14 day Average True Range), to move between ¥25.55 and ¥27.27, which gives a possible trading interval of +/-¥0.86 (+/-3.25%) up or down from last closing price. If ShenZhen YUTO Packaging Tech Co Ltd takes out the full calculated possible swing range there will be an estimated 6.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥26.31 (0.38%) than the resistance at ¥26.88 (1.78%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ShenZhen YUTO Packaging Tech 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 YUTO Packaging Tech Co Ltd stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.410 Buy Candidate Upgraded
Predicted Opening Price for ShenZhen YUTO Packaging Tech Co Ltd of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| ¥26.37 ( 0.139%) | ¥26.41 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002831.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 27.56 | 4.37% |
| R2 | 27.11 | 2.65% |
| R1 | 26.83 | 1.58% |
| Price | 26.41 | |
| S1 | 25.92 | -1.86% |
| S2 | 25.64 | -2.92% |
| S3 | 25.18 | -4.64% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 27.39 | 3.71% |
| R2 | 26.91 | 1.89% |
| R1 | 26.88 | 1.78% |
| Price | 26.41 | |
| S1 | 26.31 | -0.379% |
| S2 | 24.94 | -5.57% |
| S3 | 24.40 | -7.61% |
002831 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 29, 2024 | May 29, 2024 | May 29, 2024 | ¥0.620 | 2.46% |
| 2 | Sep 26, 2023 | Sep 26, 2023 | Sep 26, 2023 | ¥0.327 | 1.40% |
| 3 | Jun 08, 2023 | Jun 08, 2023 | Jun 08, 2023 | ¥0.327 | 1.36% |
| 4 | Jun 10, 2022 | Jun 10, 2022 | Jun 10, 2022 | ¥0.221 | 0.84% |
| 5 | Jun 11, 2021 | Jun 11, 2021 | Jun 11, 2021 | ¥0.280 | 0.98% |
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