Shenzhen Longood Intelligent Electric Stock Forecast
Shenzhen Longood Intelligent Electric stock upgraded to Hold/Accumulate.
(Updated on Jul 02, 2024)
The Shenzhen Longood Intelligent Electric stock price gained 1.53% on the last trading day (Tuesday, 2nd Jul 2024), rising from ¥7.84 to ¥7.96. During the last trading day the stock fluctuated 2.97% from a day low at ¥7.75 to a day high of ¥7.98. The price has fallen in 6 of the last 10 days but is still up by 0.25% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 7 million shares were bought and sold for approximately ¥58.52 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and weak 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 5.91% during the next 3 months and, with a 90% probability hold a price between ¥7.05 and ¥9.07 at the end of this 3-month period.
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300543.SZ Signals & Forecast
The Shenzhen Longood Intelligent Electric stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥7.72 and ¥7.80. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Friday, May 24, 2024, and so far it has fallen -4.67%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Shenzhen Longood Intelligent Electric stock
Shenzhen Longood Intelligent Electric finds support from accumulated volume at ¥7.94 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 ¥0.230 between high and low, or 2.97%. For the last week, the stock has had daily average volatility of 5.58%.
Our recommended stop-loss: ¥7.54 (-5.30%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 50 days ago.)
Trading Expectations (300543.SZ) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Shenzhen Longood Intelligent Electric Co.,LTD to open at ¥7.90, and during the day (based on 14 day Average True Range), to move between ¥7.44 and ¥8.48, which gives a possible trading interval of +/-¥0.519 (+/-6.53%) up or down from last closing price. If Shenzhen Longood Intelligent Electric Co.,LTD takes out the full calculated possible swing range there will be an estimated 13.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥7.94 (0.25%) than the resistance at ¥8.04 (1.01%), 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 Longood Intelligent Electric Co.,LTD stock A Buy?
Shenzhen Longood Intelligent Electric 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.998 Hold/Accumulate Upgraded
Predicted Opening Price for Shenzhen Longood Intelligent Electric Co.,LTD of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| ¥7.90 ( 0.796%) | ¥7.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300543.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.13 | 2.09% |
| R2 | 8.04 | 0.99% |
| R1 | 7.98 | 0.308% |
| Price | 7.96 | |
| S1 | 7.81 | -1.90% |
| S2 | 7.75 | -2.58% |
| S3 | 7.67 | -3.69% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.35 | 4.90% |
| R2 | 8.27 | 3.89% |
| R1 | 8.04 | 1.01% |
| Price | 7.96 | |
| S1 | 7.94 | -0.251% |
| S2 | 7.90 | -0.754% |
| S3 | 6.95 | -12.69% |
300543 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 07, 2024 | Jun 07, 2024 | Jun 07, 2024 | ¥0.0500 | 0.695% |
| 2 | Jun 09, 2023 | Jun 09, 2023 | Jun 09, 2023 | ¥0.0750 | 0.80% |
| 3 | May 26, 2021 | May 26, 2021 | May 26, 2021 | ¥0.192 | 1.58% |
| 4 | May 26, 2020 | May 26, 2020 | May 26, 2020 | ¥0.113 | 1.12% |
| 5 | May 28, 2019 | May 28, 2019 | May 28, 2019 | ¥0.0339 | 0.385% |
FAQ
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