Zhejiang Zhaofeng Mechncl & Elctr Co Ltd Stock Forecast
Zhejiang Zhaofeng Mechncl & Elctr Co Ltd stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Apr 24, 2024)
The Zhejiang Zhaofeng Mechncl & Elctr Co Ltd stock price gained 3.36% on the last trading day (Wednesday, 24th Apr 2024), rising from ¥43.10 to ¥44.55. During the last trading day the stock fluctuated 4.89% from a day low at ¥42.53 to a day high of ¥44.61. The price has risen in 7 of the last 10 days and is up by 2.7% 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, 184 thousand more shares were traded than the day before. In total, 550 thousand shares were bought and sold for approximately ¥24.51 million.
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 9.96% during the next 3 months and, with a 90% probability hold a price between ¥40.05 and ¥53.30 at the end of this 3-month period.
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300695.SZ Signals & Forecast
The Zhejiang Zhaofeng Mechncl & Elctr Co Ltd 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 ¥42.26 and ¥43.40. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 Monday, April 01, 2024, and so far it has fallen -5.89%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Zhejiang Zhaofeng Mechncl & Elctr Co Ltd stock
Zhejiang Zhaofeng Mechncl & Elctr Co Ltd finds support from accumulated volume at ¥43.30 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 ¥2.08 between high and low, or 4.89%. For the last week, the stock has had daily average volatility of 4.48%.
Our recommended stop-loss: ¥42.47 (-4.67%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (300695.SZ) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Zhejiang Zhaofeng Mechncl & Elctr Co Ltd to open at ¥43.90, and during the day (based on 14 day Average True Range), to move between ¥42.24 and ¥46.86, which gives a possible trading interval of +/-¥2.31 (+/-5.19%) up or down from last closing price. If Zhejiang Zhaofeng Mechncl & Elctr Co Ltd takes out the full calculated possible swing range there will be an estimated 10.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥45.63 (2.42%) than the support at ¥43.30 (2.81%), 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 Zhejiang Zhaofeng Mechncl & Elctr Co Ltd stock A Buy?
Zhejiang Zhaofeng Mechncl & Elctr 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.068 Hold/Accumulate Upgraded
Predicted Opening Price for Zhejiang Zhaofeng Mechncl & Elctr Co Ltd of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| ¥43.90 ( 1.47%) | ¥44.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300695.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 45.98 | 3.20 % | |
| R2 | 45.18 | 1.42 % | ||
| R1 | 44.69 | 0.317 % | ||
| Current price: | 44.55 | |||
| Support | S1 | 43.10 | -3.25 % | |
| S2 | 42.61 | -4.35 % | ||
| S3 | 41.82 | -6.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 47.34 | 6.26 % | |
| R2 | 45.80 | 2.81 % | ||
| R1 | 45.63 | 2.42 % | ||
| Current price | 44.55 | |||
| Support | S1 | 43.30 | -2.81% | |
| S2 | 37.85 | -15.04% | ||
| S3 | 34.91 | -21.64% |
300695 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 10, 2022 | Jun 10, 2022 | Jun 10, 2022 | ¥0.180 | 0.362% |
| 2 | Jul 08, 2020 | Jul 08, 2020 | Jul 08, 2020 | ¥3.00 | 4.05% |
| 3 | Jun 21, 2019 | Jun 21, 2019 | Jun 21, 2019 | ¥1.00 | 1.91% |
| 4 | Jun 11, 2018 | Jun 11, 2018 | Jun 11, 2018 | ¥1.50 | 2.27% |
FAQ
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