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AI Analysis of 002947.SZ
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High volatility in Suzhou Hengmingda Electronic Tech Co Ltd stock price on Friday which ended trading at ¥31.65
(Updated on Apr 26, 2024)

Buy or Hold candidate since Apr 23, 2024 Gain 3.67% PDF

The Suzhou Hengmingda Electronic Tech Co Ltd stock price gained 0.381% on the last trading day (Friday, 26th Apr 2024), rising from ¥31.53 to ¥31.65. During the last trading day the stock fluctuated 14.89% from a day low at ¥28.08 to a day high of ¥32.26. The price has risen in 7 of the last 10 days and is up by 13.85% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 8 million shares were bought and sold for approximately ¥248.35 million.

The stock lies in the middle of a very wide and strong 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 18.04% during the next 3 months and, with a 90% probability hold a price between ¥29.81 and ¥42.32 at the end of this 3-month period.

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002947.SZ Signals & Forecast

The Suzhou Hengmingda Electronic Tech Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ¥30.29 and ¥30.06. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -1.28%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Suzhou Hengmingda Electronic Tech Co Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at ¥28.20 and ¥27.88. 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, Suzhou Hengmingda Electronic Tech Co Ltd finds support just below today's level at ¥28.20. If this is broken, then the next support from accumulated volume will be at ¥27.88 and ¥25.66.

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 ¥4.18 between high and low, or 14.89%. For the last week, the stock has had daily average volatility of 13.37%.

Our recommended stop-loss: ¥30.35 (-4.10%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (002947.SZ) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Suzhou Hengmingda Electronic Tech Co Ltd to open at ¥30.66, and during the day (based on 14 day Average True Range), to move between ¥29.24 and ¥34.06, which gives a possible trading interval of +/-¥2.41 (+/-7.61%) up or down from last closing price. If Suzhou Hengmingda Electronic Tech Co Ltd takes out the full calculated possible swing range there will be an estimated 15.22% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥32.06 (1.30%) than the support at ¥28.20 (10.90%), 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 Suzhou Hengmingda Electronic Tech Co Ltd stock A Buy?

Suzhou Hengmingda Electronic Tech 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: 0.427 Hold/Accumulate Downgraded

Predicted Opening Price for Suzhou Hengmingda Electronic Tech Co Ltd of Monday, April 29, 2024

Fair opening price April 29, 2024 Current price
¥30.66 ( 3.12%) ¥31.65

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for 002947.SZ

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 34.84 10.09 %
R2 33.25 5.04 %
R1 32.26 1.93 %
Current price: 31.65
Support S1 29.07 -8.16 %
S2 28.08 -11.28 %
S3 26.48 -16.32 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 32.30 2.05 %
R2 32.16 1.61 %
R1 32.06 1.30 %
Current price 31.65
Support S1 28.20 -10.90%
S2 27.88 -11.91%
S3 25.66 -18.93%

002947 Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Apr 20, 2023 Apr 20, 2023 Apr 20, 2023 ¥0.300 1.40%
2 Mar 23, 2022 Mar 23, 2022 Mar 23, 2022 ¥0.154 0.749%
3 May 13, 2021 May 13, 2021 May 13, 2021 ¥0.178 1.01%
4 May 22, 2020 May 22, 2020 May 22, 2020 ¥0.355 1.22%
5 May 13, 2019 May 13, 2019 May 13, 2019 ¥0.118 0.526%

FAQ

What is the symbol for Suzhou Hengmingda Electronic Tech Co Ltd Stock and on which exchange is it traded?
The symbol for Suzhou Hengmingda Electronic Tech Co Ltd is 002947.SZ and it is traded on the SZCE (Shenzhen Stock Exchange).

Should I buy or sell Suzhou Hengmingda Electronic Tech Co Ltd Stock?
Suzhou Hengmingda Electronic Tech 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.

How to buy Suzhou Hengmingda Electronic Tech Co Ltd Stock?
Suzhou Hengmingda Electronic Tech Co Ltd Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Suzhou Hengmingda Electronic Tech Co Ltd Stock.

What's the current price of Suzhou Hengmingda Electronic Tech Co Ltd Stock?
As of the end of day on the Apr 26, 2024, the price of an Suzhou Hengmingda Electronic Tech Co Ltd (002947.SZ) share was ¥31.65.

What is the 52-week high and low for Suzhou Hengmingda Electronic Tech Co Ltd Stock?
The 52-week high for Suzhou Hengmingda Electronic Tech Co Ltd Stock is ¥35.37 and the 52-week low is ¥17.27.

What is the market capitalization of Suzhou Hengmingda Electronic Tech Co Ltd Stock?
As of the Apr 26, 2024, the market capitalization of Suzhou Hengmingda Electronic Tech Co Ltd is 7.24B.

When is the next earnings date for Suzhou Hengmingda Electronic Tech Co Ltd?
The upcoming earnings date for Suzhou Hengmingda Electronic Tech Co Ltd is Apr 23, 2025.
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About Suzhou Hengmingda Electronic Tech Co Ltd

Suzhou Hengmingda Electronic Tech Co Ltd Suzhou Hengmingda Electronic Technology Co., Ltd. primarily engages in the design, research and development, production, and sale of consumer electronic functional devices. The company's principal products are precision functional devices for consumer electronics products. Its products are used in mobile phones, tablet and notebook computers, smart wearable devices, and other consumer electronic products and components. The company was founded in... 002947.SZ Profile

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