Shenzhen Inovance Technology Co., Ltd Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Shenzhen Inovance Technology Co., Ltd stock price ended at ¥59.50 on Tuesday, after losing 0.80%.
(Updated on Apr 30, 2024)
The Shenzhen Inovance Technology Co., Ltd stock price fell by -0.80% on the last day (Tuesday, 30th Apr 2024) from ¥59.98 to ¥59.50. During the last trading day the stock fluctuated 5.39% from a day low at ¥57.14 to a day high of ¥60.22. The price has fallen in 6 of the last 10 days and is down by -2.17% 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 -6 million shares and in total, 10 million shares were bought and sold for approximately ¥595.46 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 -2.72% during the next 3 months and, with a 90% probability hold a price between ¥55.77 and ¥64.05 at the end of this 3-month period.
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300124.SZ Signals & Forecast
There are mixed signals in the stock today. The Shenzhen Inovance 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 ¥59.52 and ¥61.12. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 3.60%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Shenzhen Inovance Technology Co., Ltd stock
Shenzhen Inovance Technology Co., Ltd finds support from accumulated volume at ¥59.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ¥3.08 (5.39%) between high and low. For the last week, the stock has had daily average volatility of 5.59%.
Our recommended stop-loss: ¥56.73 (-4.65%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (300124.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Shenzhen Inovance Technology Co., Ltd to open at ¥58.95, and during the day (based on 14 day Average True Range), to move between ¥56.93 and ¥62.07, which gives a possible trading interval of +/-¥2.57 (+/-4.32%) up or down from last closing price. If Shenzhen Inovance Technology Co., Ltd takes out the full calculated possible swing range there will be an estimated 8.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥59.55 (0.08%) than the support at ¥59.35 (0.25%), 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 Shenzhen Inovance Technology Co., Ltd stock A Buy?
Shenzhen Inovance Technology 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.
Current score: -0.414 Hold/Accumulate Unchanged
Predicted Opening Price for Shenzhen Inovance Technology Co., Ltd of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥58.95 ( 0.92%) | ¥59.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300124.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 62.03 | 4.26 % | |
| R2 | 60.86 | 2.28 % | ||
| R1 | 60.13 | 1.06 % | ||
| Current price: | 59.50 | |||
| Support | S1 | 57.78 | -2.90 % | |
| S2 | 57.05 | -4.12 % | ||
| S3 | 55.87 | -6.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 62.05 | 4.29 % | |
| R2 | 60.70 | 2.02 % | ||
| R1 | 59.55 | 0.0840 % | ||
| Current price | 59.50 | |||
| Support | S1 | 59.35 | -0.252% | |
| S2 | 58.28 | -2.05% | ||
| S3 | 55.96 | -5.95% |
300124 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 12, 2023 | Jun 12, 2023 | Jun 12, 2023 | ¥0.360 | 0.613% |
| 2 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | ¥0.300 | 0.459% |
| 3 | Jun 04, 2021 | Jun 04, 2021 | Jun 04, 2021 | ¥0.240 | 0.394% |
| 4 | Jul 15, 2020 | Jul 15, 2020 | Jul 15, 2020 | ¥0.120 | 0.238% |
| 5 | Jul 05, 2019 | Jul 05, 2019 | Jul 05, 2019 | ¥0.133 | 0.560% |
FAQ
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