Shenzhen Weiye Decoration Group Co Ltd Stock Forecast
Green day on Monday for Shenzhen Weiye Decoration Group Co Ltd
(Updated on May 06, 2024)
The Shenzhen Weiye Decoration Group Co Ltd stock price gained 1.29% on the last trading day (Monday, 6th May 2024), rising from ¥8.53 to ¥8.64. During the last trading day the stock fluctuated 5.86% from a day low at ¥8.53 to a day high of ¥9.03. The price has risen in 6 of the last 10 days and is up by 15.82% over the past 2 weeks. Volume fell on the last day by -3 million shares and in total, 5 million shares were bought and sold for approximately ¥45.46 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 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 14.61% during the next 3 months and, with a 90% probability hold a price between ¥7.65 and ¥11.07 at the end of this 3-month period.
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300621.SZ Signals & Forecast
The Shenzhen Weiye Decoration Group Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ¥8.60 and ¥8.38. 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 Wednesday, April 03, 2024, and so far it has fallen -6.59%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Shenzhen Weiye Decoration Group Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥7.77 and ¥6.91. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Shenzhen Weiye Decoration Group Co Ltd finds support just below today's level at ¥7.77. If this is broken, then the next support from accumulated volume will be at ¥6.91 and ¥6.53.
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 ¥0.500 between high and low, or 5.86%. For the last week, the stock has had daily average volatility of 15.44%.
Our recommended stop-loss: ¥8.32 (-3.66%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (300621.SZ) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Shenzhen Weiye Decoration Group Co Ltd to open at ¥8.73, and during the day (based on 14 day Average True Range), to move between ¥7.73 and ¥9.55, which gives a possible trading interval of +/-¥0.91 (+/-10.54%) up or down from last closing price. If Shenzhen Weiye Decoration Group Co Ltd takes out the full calculated possible swing range there will be an estimated 21.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥8.83 (2.20%) than the support at ¥7.77 (10.07%), 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 Weiye Decoration Group Co Ltd stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Shenzhen Weiye Decoration Group Co Ltd stock to perform well in the short-term.
Current score: 1.041 Buy Candidate Unchanged
Predicted Opening Price for Shenzhen Weiye Decoration Group Co Ltd of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| ¥8.73 ( 1.08%) | ¥8.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300621.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.23 | 6.87 % | |
| R2 | 9.04 | 4.66 % | ||
| R1 | 8.92 | 3.29 % | ||
| Current price: | 8.64 | |||
| Support | S1 | 8.54 | -1.13 % | |
| S2 | 8.42 | -2.50 % | ||
| S3 | 8.23 | -4.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.06 | 4.86 % | |
| R2 | 9.05 | 4.75 % | ||
| R1 | 8.83 | 2.20 % | ||
| Current price | 8.64 | |||
| Support | S1 | 7.77 | -10.07% | |
| S2 | 6.91 | -20.02% | ||
| S3 | 6.53 | -24.42% |
300621 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 17, 2022 | Jun 17, 2022 | Jun 17, 2022 | ¥0.0270 | 0.305% |
| 2 | Jun 21, 2021 | Jun 21, 2021 | Jun 21, 2021 | ¥0.0350 | 0.389% |
| 3 | Jun 09, 2020 | Jun 09, 2020 | Jun 09, 2020 | ¥0.0700 | 0.624% |
| 4 | Jul 05, 2019 | Jul 05, 2019 | Jul 05, 2019 | ¥0.0800 | 0.80% |
| 5 | Jun 20, 2018 | Jun 20, 2018 | Jun 20, 2018 | ¥0.0667 | 0.530% |
FAQ
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