Shenzhen RongDa Photosensitive Science & Stock Forecast
Red day on Thursday for Shenzhen RongDa Photosensitive Science & stock after losing 4.12%
(Updated on Jun 20, 2024)
The Shenzhen RongDa Photosensitive Science & stock price fell by -4.12% on the last day (Thursday, 20th Jun 2024) from ¥40.05 to ¥38.40. During the last trading day the stock fluctuated 7.40% from a day low at ¥37.99 to a day high of ¥40.80. The price has been going up and down for this period, and there has been a 3.09% gain for the last 2 weeks. Volume has increased on the last day by 4 million 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, 28 million shares were bought and sold for approximately ¥1.08 billion.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Shenzhen RongDa Photosensitive Science & stock with a 90% probability to be traded between ¥28.93 and ¥41.61 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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300576.SZ Signals & Forecast
The Shenzhen RongDa Photosensitive Science & stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ¥39.88. On a fall, the stock will find some support from the long-term average at approximately ¥36.80. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Tuesday, June 11, 2024, and so far it has fallen -7.89%. Further fall is indicated until a new bottom pivot has been found. 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 RongDa Photosensitive Science & stock
Shenzhen RongDa Photosensitive Science & finds support from accumulated volume at ¥37.90 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ¥2.81 between high and low, or 7.40%. For the last week, the stock has had daily average volatility of 6.63%.
Our recommended stop-loss: ¥37.09 (-3.41%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (300576.SZ) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Shenzhen RongDa Photosensitive Science & Technology Co., Ltd. to open at ¥39.06, and during the day (based on 14 day Average True Range), to move between ¥35.00 and ¥41.80, which gives a possible trading interval of +/-¥3.40 (+/-8.86%) up or down from last closing price. If Shenzhen RongDa Photosensitive Science & Technology Co., Ltd. takes out the full calculated possible swing range there will be an estimated 17.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥37.90 (1.30%) than the resistance at ¥39.61 (3.15%), 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 RongDa Photosensitive Science & Technology Co., Ltd. stock A Buy?
Shenzhen RongDa Photosensitive Science & 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: 0.829 Hold/Accumulate Unchanged
Predicted Opening Price for Shenzhen RongDa Photosensitive Science & Technology Co., Ltd. of Friday, June 21, 2024
Fair opening price June 21, 2024 | Current price |
---|---|
¥39.06 ( 1.73%) | ¥38.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300576.SZ
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 41.87 | 9.05% |
R2 | 40.80 | 6.25% |
R1 | 40.14 | 4.52% |
Price | 38.40 | |
S1 | 37.99 | -1.07% |
S2 | 37.33 | -2.79% |
S3 | 36.25 | -5.59% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 41.69 | 8.57% |
R2 | 40.10 | 4.43% |
R1 | 39.61 | 3.15% |
Price | 38.40 | |
S1 | 37.90 | -1.30% |
S2 | 37.56 | -2.19% |
S3 | 34.80 | -9.38% |
300576 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 16, 2024 | May 16, 2024 | May 16, 2024 | ¥0.0750 | 0.246% |
2 | Jun 06, 2023 | Jun 06, 2023 | Jun 06, 2023 | ¥0.0500 | 0.155% |
3 | Jun 16, 2022 | Jun 16, 2022 | Jun 16, 2022 | ¥0.0450 | 0.227% |
4 | May 28, 2021 | May 28, 2021 | May 28, 2021 | ¥0.0606 | 0.273% |
5 | Jun 24, 2020 | Jun 24, 2020 | Jun 24, 2020 | ¥0.0530 | 0.175% |
FAQ
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