Zhejiang Zhaofeng Mechncl & Elctr Co Ltd Stock Forecast
Red day on Tuesday for Zhejiang Zhaofeng Mechncl & Elctr Co Ltd stock after losing 1.40%
(Updated on Apr 30, 2024)
The Zhejiang Zhaofeng Mechncl & Elctr Co Ltd stock price fell by -1.40% on the last day (Tuesday, 30th Apr 2024) from ¥43.47 to ¥42.86. During the last trading day the stock fluctuated 4.37% from a day low at ¥42.09 to a day high of ¥43.93. The price has risen in 6 of the last 10 days and is up by 9.45% over the past 2 weeks. Volume has increased on the last day by 138 thousand 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, 557 thousand shares were bought and sold for approximately ¥23.89 million.
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 14.33% during the next 3 months and, with a 90% probability hold a price between ¥43.87 and ¥56.44 at the end of this 3-month period.
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300695.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Zhejiang Zhaofeng Mechncl & Elctr 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 ¥43.01 and ¥43.68. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -3.79%. 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). 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 Zhejiang Zhaofeng Mechncl & Elctr Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥39.75 and ¥37.85. 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, Zhejiang Zhaofeng Mechncl & Elctr Co Ltd finds support just below today's level at ¥39.75. If this is broken, then the next support from accumulated volume will be at ¥37.85 and ¥34.91.
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 ¥1.84 between high and low, or 4.37%. For the last week, the stock has had daily average volatility of 4.01%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (300695.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Zhejiang Zhaofeng Mechncl & Elctr Co Ltd to open at ¥42.96, and during the day (based on 14 day Average True Range), to move between ¥40.71 and ¥45.01, which gives a possible trading interval of +/-¥2.15 (+/-5.02%) 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 10.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥43.30 (1.03%) than the support at ¥39.75 (7.26%), 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?
The Zhejiang Zhaofeng Mechncl & Elctr Co Ltd stock holds several negative signals and despite the positive trend, we believe Zhejiang Zhaofeng Mechncl & Elctr Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.767 Sell Candidate Unchanged
Predicted Opening Price for Zhejiang Zhaofeng Mechncl & Elctr Co Ltd of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥42.96 ( 0.233%) | ¥42.86 |
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 | 44.80 | 4.53 % | |
| R2 | 44.10 | 2.89 % | ||
| R1 | 43.66 | 1.87 % | ||
| Current price: | 42.86 | |||
| Support | S1 | 42.26 | -1.41 % | |
| S2 | 41.82 | -2.42 % | ||
| S3 | 41.12 | -4.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 47.34 | 10.45 % | |
| R2 | 45.80 | 6.86 % | ||
| R1 | 43.30 | 1.03 % | ||
| Current price | 42.86 | |||
| Support | S1 | 39.75 | -7.26% | |
| S2 | 37.85 | -11.69% | ||
| S3 | 34.91 | -18.55% |
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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