Shenzhen Genvict Technologies Co Ltd Stock Forecast
Green day on Friday for Shenzhen Genvict Technologies Co Ltd
(Updated on May 17, 2024)
The Shenzhen Genvict Technologies Co Ltd stock price gained 1.72% on the last trading day (Friday, 17th May 2024), rising from ¥17.40 to ¥17.70. During the last trading day the stock fluctuated 6.79% from a day low at ¥17.23 to a day high of ¥18.40. The price has fallen in 6 of the last 10 days and is down by -8.1% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 339 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately ¥52.01 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥16.52 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 16.53% during the next 3 months and, with a 90% probability hold a price between ¥19.25 and ¥27.66 at the end of this 3-month period.
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002869.SZ Signals & Forecast
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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Shenzhen Genvict Technologies Co Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ¥18.77. On a fall, the stock will find some support from the short-term average at ¥17.69. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, April 01, 2024, and so far it has fallen -19.84%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Shenzhen Genvict Technologies Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥16.80 and ¥16.68. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Shenzhen Genvict Technologies Co Ltd finds support just below today's level at ¥16.80. If this is broken, then the next support from accumulated volume will be at ¥16.68 and ¥14.82.
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 ¥1.17 between high and low, or 6.79%. For the last week, the stock has had daily average volatility of 6.52%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002869.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Shenzhen Genvict Technologies Co Ltd to open at ¥17.78, and during the day (based on 14 day Average True Range), to move between ¥16.25 and ¥19.15, which gives a possible trading interval of +/-¥1.45 (+/-8.19%) up or down from last closing price. If Shenzhen Genvict Technologies Co Ltd takes out the full calculated possible swing range there will be an estimated 16.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥16.80 (5.08%) than the resistance at ¥19.28 (8.93%), 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 Genvict Technologies Co Ltd stock A Buy?
Shenzhen Genvict Technologies 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.
Current score: -3.977 Sell Candidate Unchanged
Predicted Opening Price for Shenzhen Genvict Technologies Co Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥17.78 ( 0.433%) | ¥17.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002869.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.95 | 7.04 % | |
| R2 | 18.50 | 4.52 % | ||
| R1 | 18.22 | 2.96 % | ||
| Current price: | 17.70 | |||
| Support | S1 | 17.33 | -2.09 % | |
| S2 | 17.05 | -3.65 % | ||
| S3 | 16.61 | -6.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.78 | 23.05 % | |
| R2 | 20.78 | 17.40 % | ||
| R1 | 19.28 | 8.93 % | ||
| Current price | 17.70 | |||
| Support | S1 | 16.80 | -5.08% | |
| S2 | 16.68 | -5.76% | ||
| S3 | 14.82 | -16.27% |
002869 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 07, 2023 | Jul 07, 2023 | Jul 07, 2023 | ¥0.0600 | 0.274% |
| 2 | Jul 05, 2021 | Jul 05, 2021 | Jul 05, 2021 | ¥1.06 | 4.93% |
| 3 | Jul 03, 2020 | Jul 03, 2020 | Jul 03, 2020 | ¥2.18 | 4.90% |
| 4 | Jul 10, 2019 | Jul 10, 2019 | Jul 10, 2019 | ¥0.0400 | 0.128% |
| 5 | Jul 13, 2018 | Jul 13, 2018 | Jul 13, 2018 | ¥0.200 | 1.23% |
FAQ
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