Shenzhen Sunnypol Optoelectronics Co Ltd Stock Forecast
Evaluation of Shenzhen Sunnypol Optoelectronics Co Ltd stock downgraded after the last trading session.
(Updated on May 08, 2024)
The Shenzhen Sunnypol Optoelectronics Co Ltd stock price fell by -3.80% on the last day (Wednesday, 8th May 2024) from ¥25.78 to ¥24.80. During the last trading day the stock fluctuated 4.75% from a day low at ¥24.63 to a day high of ¥25.80. The price has risen in 7 of the last 10 days and is up by 15.51% over the past 2 weeks. Volume has increased on the last day by 2 million 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, 4 million shares were bought and sold for approximately ¥110.91 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 3.40% during the next 3 months and, with a 90% probability hold a price between ¥22.36 and ¥27.20 at the end of this 3-month period.
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002876.SZ Signals & Forecast
The Shenzhen Sunnypol Optoelectronics Co Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ¥25.25. On a fall, the stock will find some support from the long-term average at approximately ¥24.28. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Monday, April 29, 2024, and so far it has fallen -4.65%. 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 Sunnypol Optoelectronics Co Ltd stock
Shenzhen Sunnypol Optoelectronics Co Ltd finds support from accumulated volume at ¥24.41 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 ¥1.17 between high and low, or 4.75%. For the last week, the stock has had daily average volatility of 5.08%.
Our recommended stop-loss: ¥23.72 (-4.37%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (002876.SZ) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Shenzhen Sunnypol Optoelectronics Co Ltd to open at ¥25.08, and during the day (based on 14 day Average True Range), to move between ¥23.16 and ¥26.44, which gives a possible trading interval of +/-¥1.64 (+/-6.63%) up or down from last closing price. If Shenzhen Sunnypol Optoelectronics Co Ltd takes out the full calculated possible swing range there will be an estimated 13.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥24.41 (1.57%) than the resistance at ¥25.28 (1.94%), 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 Sunnypol Optoelectronics Co Ltd stock A Buy?
Shenzhen Sunnypol Optoelectronics Co Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.171 Hold/Accumulate Downgraded
Predicted Opening Price for Shenzhen Sunnypol Optoelectronics Co Ltd of Thursday, May 9, 2024
Fair opening price May 9, 2024 | Current price |
---|---|
¥25.08 ( 1.12%) | ¥24.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002876.SZ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 26.25 | 5.83 % | |
R2 | 25.80 | 4.03 % | ||
R1 | 25.52 | 2.92 % | ||
Current price: | 24.80 | |||
Support | S1 | 24.63 | -0.687 % | |
S2 | 24.35 | -1.80 % | ||
S3 | 23.91 | -3.60 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 25.78 | 3.95 % | |
R2 | 25.71 | 3.67 % | ||
R1 | 25.28 | 1.94 % | ||
Current price | 24.80 | |||
Support | S1 | 24.41 | -1.57% | |
S2 | 23.85 | -3.83% | ||
S3 | 22.85 | -7.86% |
002876 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 23, 2023 | May 23, 2023 | May 23, 2023 | ¥0.200 | 0.539% |
2 | May 19, 2022 | May 19, 2022 | May 19, 2022 | ¥0.296 | 1.05% |
3 | Apr 23, 2021 | Apr 23, 2021 | Apr 23, 2021 | ¥0.143 | 0.246% |
4 | Apr 30, 2020 | Apr 30, 2020 | Apr 30, 2020 | ¥0.0357 | 0.103% |
5 | Jun 25, 2019 | Jun 25, 2019 | Jun 25, 2019 | ¥0.0220 | 0.116% |
FAQ
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