Guangzhou Shiyuan Electronic Tech Co Ltd Stock Forecast
Red day on Wednesday for Guangzhou Shiyuan Electronic Tech Co Ltd stock after losing 1.53%
(Updated on May 08, 2024)
The Guangzhou Shiyuan Electronic Tech Co Ltd stock price fell by -1.53% on the last day (Wednesday, 8th May 2024) from ¥33.24 to ¥32.73. During the last trading day the stock fluctuated 2.55% from a day low at ¥32.58 to a day high of ¥33.41. The price has been going up and down for this period, and there has been a 1.99% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 million shares and in total, 3 million shares were bought and sold for approximately ¥94.11 million.
The stock lies in the middle of a 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 -18.31% during the next 3 months and, with a 90% probability hold a price between ¥24.34 and ¥27.81 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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002841.SZ Signals & Forecast
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. 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 ¥32.73 and ¥34.05. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -2.39%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Guangzhou Shiyuan Electronic Tech Co Ltd stock
Guangzhou Shiyuan Electronic Tech Co Ltd finds support from accumulated volume at ¥32.02 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 ¥0.83 between high and low, or 2.55%. For the last week, the stock has had daily average volatility of 5.15%.
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 Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Guangzhou Shiyuan Electronic Tech Co Ltd to open at ¥32.91, and during the day (based on 14 day Average True Range), to move between ¥31.15 and ¥34.31, which gives a possible trading interval of +/-¥1.58 (+/-4.82%) 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 9.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥32.76 (0.09%) than the support at ¥32.02 (2.17%), 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.
Earnings coming up
Guangzhou Shiyuan Electronic Tech Co Ltd will release earnings BMO on Thursday, May 16, 2024. We will update the financials statements for Guangzhou Shiyuan Electronic Tech Co Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.52% in the first trading day after earnings release.
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.
Current score: -2.585 Sell Candidate Unchanged
Predicted Opening Price for Guangzhou Shiyuan Electronic Tech Co Ltd of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| ¥32.91 ( 0.540%) | ¥32.73 |
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 | 33.74 | 3.08 % | |
| R2 | 33.42 | 2.11 % | ||
| R1 | 33.22 | 1.51 % | ||
| Current price: | 32.73 | |||
| Support | S1 | 32.59 | -0.429 % | |
| S2 | 32.39 | -1.03 % | ||
| S3 | 32.08 | -2.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.24 | 19.89 % | |
| R2 | 33.20 | 1.44 % | ||
| R1 | 32.76 | 0.0917 % | ||
| Current price | 32.73 | |||
| Support | S1 | 32.02 | -2.17% | |
| S2 | 31.97 | -2.32% | ||
| S3 | 31.04 | -5.16% |
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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