Shenzhen Changhong Technology Co., Ltd. Stock Forecast
Weaker technical forecast for Shenzhen Changhong Technology Co., Ltd. as stock downgraded to Sell Candidate.
(Updated on Jun 28, 2024)
The Shenzhen Changhong Technology Co., Ltd. stock price fell by -1.62% on the last day (Friday, 28th Jun 2024) from ¥16.08 to ¥15.82. During the last trading day the stock fluctuated 8.99% from a day low at ¥15.68 to a day high of ¥17.09. The price has fallen in 6 of the last 10 days and is down by -6.28% for this period. Volume has increased on the last day by 422 thousand 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 ¥66.66 million.
The stock lies in the middle of a 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 12.69% during the next 3 months and, with a 90% probability hold a price between ¥17.11 and ¥20.06 at the end of this 3-month period.
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300151.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Shenzhen Changhong Technology Co., Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ¥16.27 and ¥16.01. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -9.91%. 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 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 Changhong Technology Co., Ltd. stock
Shenzhen Changhong Technology Co., Ltd. finds support from accumulated volume at ¥15.80 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 ¥1.41 between high and low, or 8.99%. For the last week, the stock has had daily average volatility of 8.81%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (300151.SZ) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Shenzhen Changhong Technology Co., Ltd. to open at ¥16.20, and during the day (based on 14 day Average True Range), to move between ¥14.71 and ¥16.93, which gives a possible trading interval of +/-¥1.11 (+/-7.05%) up or down from last closing price. If Shenzhen Changhong Technology Co., Ltd. takes out the full calculated possible swing range there will be an estimated 14.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥15.80 (0.13%) than the resistance at ¥16.36 (3.41%), 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 Changhong Technology Co., Ltd. stock A Buy?
The Shenzhen Changhong Technology Co., Ltd. stock holds several negative signals and despite the positive trend, we believe Shenzhen Changhong Technology 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 Buy to a Sell candidate.
Current score: -2.651 Sell Candidate Downgraded
Predicted Opening Price for Shenzhen Changhong Technology Co., Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ¥16.20 ( 2.38%) | ¥15.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300151.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.61 | 11.29% |
| R2 | 17.07 | 7.89% |
| R1 | 16.74 | 5.79% |
| Price | 15.82 | |
| S1 | 15.66 | -1.02% |
| S2 | 15.33 | -3.13% |
| S3 | 14.79 | -6.53% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.49 | 4.24% |
| R2 | 16.48 | 4.17% |
| R1 | 16.36 | 3.41% |
| Price | 15.82 | |
| S1 | 15.80 | -0.126% |
| S2 | 14.85 | -6.13% |
| S3 | 14.80 | -6.45% |
300151 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 29, 2024 | May 29, 2024 | May 29, 2024 | ¥0.0500 | 0.317% |
| 2 | May 26, 2023 | May 26, 2023 | May 26, 2023 | ¥0.200 | 1.13% |
| 3 | May 17, 2022 | May 17, 2022 | May 17, 2022 | ¥0.180 | 1.15% |
| 4 | Jun 02, 2021 | Jun 02, 2021 | Jun 02, 2021 | ¥0.200 | 0.636% |
| 5 | Jun 12, 2019 | Jun 12, 2019 | Jun 12, 2019 | ¥0.0600 | 0.97% |
FAQ
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