Zhejiang Huace Film and TV Co Ltd Stock Forecast
Evaluation of Zhejiang Huace Film and TV Co Ltd stock downgraded after the last trading session.
(Updated on Jun 04, 2024)
The Zhejiang Huace Film and TV Co Ltd stock price fell by -1.95% on the last day (Tuesday, 4th Jun 2024) from ¥7.17 to ¥7.03. During the last trading day the stock fluctuated 4.05% from a day low at ¥6.92 to a day high of ¥7.20. The price has fallen in 6 of the last 10 days and is down by -9.76% 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 -12 million shares and in total, 77 million shares were bought and sold for approximately ¥542.98 million.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥6.21 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 7.66% during the next 3 months and, with a 90% probability hold a price between ¥6.69 and ¥12.61 at the end of this 3-month period.
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300133.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Zhejiang Huace Film and TV 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 ¥7.22 and ¥7.55. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 22, 2024, and so far it has fallen -36.44%. Further fall is indicated until a new bottom pivot has been found. 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 Zhejiang Huace Film and TV Co Ltd stock
Zhejiang Huace Film and TV Co Ltd finds support from accumulated volume at ¥6.99 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 ¥0.280 between high and low, or 4.05%. For the last week, the stock has had daily average volatility of 8.21%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (300133.SZ) For The Upcoming Trading Day Of Wednesday 5th
For the upcoming trading day on Wednesday, 5th we expect Zhejiang Huace Film and TV Co Ltd to open at ¥7.05, and during the day (based on 14 day Average True Range), to move between ¥6.28 and ¥7.78, which gives a possible trading interval of +/-¥0.753 (+/-10.72%) up or down from last closing price. If Zhejiang Huace Film and TV Co Ltd takes out the full calculated possible swing range there will be an estimated 21.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥6.99 (0.57%) than the resistance at ¥7.69 (9.39%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Zhejiang Huace Film and TV Co Ltd stock A Buy?
The Zhejiang Huace Film and TV Co Ltd stock holds several negative signals and despite the positive trend, we believe Zhejiang Huace Film and TV Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.294 Strong Sell Candidate Downgraded
Predicted Opening Price for Zhejiang Huace Film and TV Co Ltd of Wednesday, June 5, 2024
| Fair opening price June 5, 2024 | Current price |
|---|---|
| ¥7.05 ( 0.284%) | ¥7.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300133.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.33 | 4.27 % | |
| R2 | 7.22 | 2.75 % | ||
| R1 | 7.16 | 1.81 % | ||
| Current price: | 7.03 | |||
| Support | S1 | 6.94 | -1.24 % | |
| S2 | 6.88 | -2.18 % | ||
| S3 | 6.77 | -3.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.29 | 17.92 % | |
| R2 | 7.89 | 12.23 % | ||
| R1 | 7.69 | 9.39 % | ||
| Current price | 7.03 | |||
| Support | S1 | 6.99 | -0.569% | |
| S2 | 6.40 | -8.96% | ||
| S3 | 5.87 | -16.50% |
300133 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 29, 2024 | May 29, 2024 | May 29, 2024 | ¥0.0410 | 0.573% |
| 2 | May 30, 2023 | May 30, 2023 | May 30, 2023 | ¥0.0220 | 0.294% |
| 3 | Jun 01, 2022 | Jun 01, 2022 | Jun 01, 2022 | ¥0.0220 | 0.486% |
| 4 | May 28, 2021 | May 28, 2021 | May 28, 2021 | ¥0.0210 | 0.341% |
| 5 | May 29, 2020 | May 29, 2020 | May 29, 2020 | ¥0.0150 | 0.220% |
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