Yantai Zhenghai Bio-Tech Co Ltd Stock Forecast
Red day on Friday for Yantai Zhenghai Bio-Tech Co Ltd
(Updated on Jun 28, 2024)
The Yantai Zhenghai Bio-Tech Co Ltd stock price fell by -1.26% on the last day (Friday, 28th Jun 2024) from ¥20.61 to ¥20.35. During the last trading day the stock fluctuated 2.46% from a day low at ¥20.33 to a day high of ¥20.83. The price has fallen in 8 of the last 10 days and is down by -10.86% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -22 thousand shares and in total, 903 thousand shares were bought and sold for approximately ¥18.37 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥20.21 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -8.32% during the next 3 months and, with a 90% probability hold a price between ¥18.53 and ¥24.12 at the end of this 3-month period.
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300653.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 0.0492%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Yantai Zhenghai Bio-Tech Co Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ¥20.62 and ¥23.27. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Yantai Zhenghai Bio-Tech Co Ltd stock
Yantai Zhenghai Bio-Tech Co Ltd finds support from accumulated volume at ¥20.34 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 ¥0.500 between high and low, or 2.46%. For the last week, the stock has had daily average volatility of 2.51%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (300653.SZ) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Yantai Zhenghai Bio-Tech Co Ltd to open at ¥20.50, and during the day (based on 14 day Average True Range), to move between ¥19.47 and ¥21.23, which gives a possible trading interval of +/-¥0.88 (+/-4.33%) up or down from last closing price. If Yantai Zhenghai Bio-Tech Co Ltd takes out the full calculated possible swing range there will be an estimated 8.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥20.34 (0.05%) than the resistance at ¥22.83 (12.19%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Yantai Zhenghai Bio-Tech Co Ltd stock A Buy?
Yantai Zhenghai Bio-Tech Co Ltd holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.471 Sell Candidate Unchanged
Predicted Opening Price for Yantai Zhenghai Bio-Tech Co Ltd of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ¥20.50 ( 0.753%) | ¥20.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300653.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.00 | 3.21% |
| R2 | 20.81 | 2.27% |
| R1 | 20.69 | 1.69% |
| Price | 20.35 | |
| S1 | 20.31 | -0.185% |
| S2 | 20.19 | -0.765% |
| S3 | 20.00 | -1.70% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.97 | 22.70% |
| R2 | 24.13 | 18.57% |
| R1 | 22.83 | 12.19% |
| Price | 20.35 | |
| S1 | 20.34 | -0.0491% |
| S2 | 0 | - |
| S3 | 0 | - |
300653 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2024 | Jun 14, 2024 | Jun 14, 2024 | ¥0.80 | 3.61% |
| 2 | May 30, 2023 | May 30, 2023 | May 30, 2023 | ¥0.600 | 1.62% |
| 3 | May 19, 2022 | May 19, 2022 | May 19, 2022 | ¥0.88 | 2.27% |
| 4 | May 20, 2021 | May 20, 2021 | May 20, 2021 | ¥0.167 | 0.347% |
| 5 | Jun 05, 2020 | Jun 05, 2020 | Jun 05, 2020 | ¥0.333 | 0.82% |
FAQ
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