Shenzhen Weiye Decoration Group Co Ltd Stock Forecast
Volatile ride for Shenzhen Weiye Decoration Group Co Ltd stock price on Friday moving between ¥8.47 and ¥9.80
(Updated on May 17, 2024)
The Shenzhen Weiye Decoration Group Co Ltd stock price gained 5.08% on the last trading day (Friday, 17th May 2024), rising from ¥9.26 to ¥9.73. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 15.70% from a day low at ¥8.47 to a day high of ¥9.80. The price has risen in 7 of the last 10 days and is up by 14.07% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 18 million shares were bought and sold for approximately ¥170.95 million.
The stock has broken the very wide and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ¥9.61, a level that may pose a second chance to hit a runner. According to fan-theory ¥12.27 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
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 ¥8.80 and ¥8.42. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 45.66%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Shenzhen Weiye Decoration Group Co Ltd stock
Shenzhen Weiye Decoration Group Co Ltd finds support from accumulated volume at ¥9.26 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 ¥1.33 between high and low, or 15.70%. For the last week, the stock has had daily average volatility of 9.02%.
Our recommended stop-loss: ¥9.18 (-5.66%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (300621.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Shenzhen Weiye Decoration Group Co Ltd to open at ¥9.33, and during the day (based on 14 day Average True Range), to move between ¥8.91 and ¥10.55, which gives a possible trading interval of +/-¥0.82 (+/-8.38%) 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 16.76% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ¥9.26, some ¥0.470 (4.83%) from the current price of ¥9.73, our system finds the risk reward attractive.
Is Shenzhen Weiye Decoration Group Co Ltd stock A Buy?
Shenzhen Weiye Decoration Group Co Ltd 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Shenzhen Weiye Decoration Group Co Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥9.33 ( 4.08%) | ¥9.73 |
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 | 10.66 | 9.59 % | |
| R2 | 10.16 | 4.37 % | ||
| R1 | 9.84 | 1.14 % | ||
| Current price: | 9.73 | |||
| Support | S1 | 8.83 | -9.30 % | |
| S2 | 8.51 | -12.52 % | ||
| S3 | 8.00 | -17.75 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 9.73 | |||
| Support | S1 | 9.26 | -4.83% | |
| S2 | 9.06 | -6.89% | ||
| S3 | 8.83 | -9.25% |
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
Click here for our free guide on how to buy Shenzhen Weiye Decoration Group Co Ltd Stock.
