Guangzhou Shiyuan Electronic Tech Co Ltd Stock Forecast
Guangzhou Shiyuan Electronic Tech Co Ltd stock upgraded to Sell Candidate.
(Updated on Apr 26, 2024)
The Guangzhou Shiyuan Electronic Tech Co Ltd stock price gained 3.00% on the last trading day (Friday, 26th Apr 2024), rising from ¥31.04 to ¥31.97. During the last trading day the stock fluctuated 5.50% from a day low at ¥30.90 to a day high of ¥32.60. The price has fallen in 5 of the last 10 days and is down by -0.06% for this period. Volume fell on the last day by -1 million shares and in total, 5 million shares were bought and sold for approximately ¥158.86 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 lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥30.96 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -11.55% during the next 3 months and, with a 90% probability hold a price between ¥27.38 and ¥32.69 at the end of this 3-month period.
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002841.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 3.00%. 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 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. The Guangzhou Shiyuan Electronic Tech Co Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ¥32.18 and ¥34.84. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Guangzhou Shiyuan Electronic Tech Co Ltd stock
Guangzhou Shiyuan Electronic Tech Co Ltd finds support from accumulated volume at ¥31.11 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 ¥1.70 between high and low, or 5.50%. For the last week, the stock has had daily average volatility of 4.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002841.SZ) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Guangzhou Shiyuan Electronic Tech Co Ltd to open at ¥31.82, and during the day (based on 14 day Average True Range), to move between ¥30.36 and ¥33.58, which gives a possible trading interval of +/-¥1.61 (+/-5.03%) up or down from last closing price. If Guangzhou Shiyuan Electronic Tech Co Ltd takes out the full calculated possible swing range there will be an estimated 10.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥32.02 (0.16%) than the support at ¥31.11 (2.69%), 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 Guangzhou Shiyuan Electronic Tech Co Ltd stock A Buy?
Guangzhou Shiyuan Electronic Tech Co Ltd holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -1.179 Sell Candidate Upgraded
Predicted Opening Price for Guangzhou Shiyuan Electronic Tech Co Ltd of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ¥31.82 ( 0.459%) | ¥31.97 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002841.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.52 | 4.86 % | |
| R2 | 32.87 | 2.83 % | ||
| R1 | 32.47 | 1.57 % | ||
| Current price: | 31.97 | |||
| Support | S1 | 31.17 | -2.49 % | |
| S2 | 30.77 | -3.74 % | ||
| S3 | 30.12 | -5.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.24 | 22.74 % | |
| R2 | 32.76 | 2.47 % | ||
| R1 | 32.02 | 0.156 % | ||
| Current price | 31.97 | |||
| Support | S1 | 31.11 | -2.69% | |
| S2 | 31.04 | -2.91% | ||
| S3 | 0 | . |
002841 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 07, 2023 | Jun 07, 2023 | Jun 07, 2023 | ¥1.05 | 1.69% |
| 2 | May 24, 2022 | May 24, 2022 | May 24, 2022 | ¥0.90 | 1.32% |
| 3 | Jun 03, 2021 | Jun 03, 2021 | Jun 03, 2021 | ¥1.00 | 0.81% |
| 4 | Jun 02, 2020 | Jun 02, 2020 | Jun 02, 2020 | ¥0.750 | 0.83% |
| 5 | May 10, 2019 | May 10, 2019 | May 10, 2019 | ¥0.541 | 0.717% |
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