Shenzhen Sinovatio Technology Co Ltd Stock Forecast
Red day on Wednesday for Shenzhen Sinovatio Technology Co Ltd
(Updated on May 08, 2024)
The Shenzhen Sinovatio Technology Co Ltd stock price fell by -3.62% on the last day (Wednesday, 8th May 2024) from ¥21.54 to ¥20.76. During the last trading day the stock fluctuated 4.58% from a day low at ¥20.73 to a day high of ¥21.68. The price has risen in 6 of the last 10 days but is still down by -11.13% for this period. 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 -389 thousand shares and in total, 3 million shares were bought and sold for approximately ¥66.15 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥19.96 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -12.11% during the next 3 months and, with a 90% probability hold a price between ¥17.54 and ¥24.35 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
002912.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 1.86%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Shenzhen Sinovatio Technology 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 ¥21.16 and ¥24.93. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Shenzhen Sinovatio Technology Co Ltd stock
Shenzhen Sinovatio Technology Co Ltd finds support from accumulated volume at ¥20.38 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ¥0.95 between high and low, or 4.58%. For the last week, the stock has had daily average volatility of 5.10%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002912.SZ) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Shenzhen Sinovatio Technology Co Ltd to open at ¥21.06, and during the day (based on 14 day Average True Range), to move between ¥19.04 and ¥22.48, which gives a possible trading interval of +/-¥1.72 (+/-8.28%) up or down from last closing price. If Shenzhen Sinovatio Technology Co Ltd takes out the full calculated possible swing range there will be an estimated 16.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥20.38 (1.83%) than the resistance at ¥21.73 (4.67%), 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 Sinovatio Technology Co Ltd stock A Buy?
Shenzhen Sinovatio Technology Co Ltd holds several negative signals and is within a very 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: -3.018 Sell Candidate Unchanged
Predicted Opening Price for Shenzhen Sinovatio Technology Co Ltd of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| ¥21.06 ( 1.43%) | ¥20.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002912.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.01 | 6.01 % | |
| R2 | 21.64 | 4.26 % | ||
| R1 | 21.42 | 3.18 % | ||
| Current price: | 20.76 | |||
| Support | S1 | 20.69 | -0.319 % | |
| S2 | 20.47 | -1.40 % | ||
| S3 | 20.11 | -3.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.18 | 21.29 % | |
| R2 | 24.64 | 18.69 % | ||
| R1 | 21.73 | 4.67 % | ||
| Current price | 20.76 | |||
| Support | S1 | 20.38 | -1.83% | |
| S2 | 19.75 | -4.87% | ||
| S3 | 0 | . |
002912 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 19, 2024 | Apr 19, 2024 | Apr 19, 2024 | ¥0.300 | 1.28% |
| 2 | Jul 09, 2021 | Jul 09, 2021 | Jul 09, 2021 | ¥0.400 | 1.02% |
| 3 | Jul 03, 2020 | Jul 03, 2020 | Jul 03, 2020 | ¥0.650 | 0.671% |
| 4 | Jun 13, 2019 | Jun 13, 2019 | Jun 13, 2019 | ¥0.406 | 0.768% |
| 5 | May 04, 2018 | May 04, 2018 | May 04, 2018 | ¥0.293 | 0.594% |
FAQ
Click here for our free guide on how to buy Shenzhen Sinovatio Technology Co Ltd Stock.
