Shenzhen Increase Technology Shares Stock Forecast
High volatility in Shenzhen Increase Technology Shares stock price on Tuesday which ended trading at ¥13.75
(Updated on Jun 18, 2024)
The Shenzhen Increase Technology Shares stock price fell by -1.29% on the last day (Tuesday, 18th Jun 2024) from ¥13.93 to ¥13.75. During the last trading day the stock fluctuated 31.16% from a day low at ¥10.59 to a day high of ¥13.89. The price has been going up and down for this period, and there has been a 19.57% gain for the last 2 weeks. 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 -4 million shares and in total, 17 million shares were bought and sold for approximately ¥234.59 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ¥13.88 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -17.99% during the next 3 months and, with a 90% probability hold a price between ¥7.86 and ¥11.38 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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300713.SZ Signals & Forecast
The Shenzhen Increase Technology Shares 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 ¥11.81 and ¥12.14. 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). 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, June 17, 2024, and so far it has fallen -1.29%. Further fall is indicated until a new bottom pivot has been found. 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 Shenzhen Increase Technology Shares stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥12.92 and ¥12.60. 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 Increase Technology Shares finds support just below today's level at ¥12.92. If this is broken, then the next support from accumulated volume will be at ¥12.60 and ¥10.74.
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 ¥3.30 between high and low, or 31.16%. For the last week, the stock has had daily average volatility of 23.08%.
Our recommended stop-loss: ¥13.18 (-4.18%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (300713.SZ) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Shenzhen Increase Technology Shares to open at ¥12.74, and during the day (based on 14 day Average True Range), to move between ¥12.29 and ¥15.21, which gives a possible trading interval of +/-¥1.46 (+/-10.63%) up or down from last closing price. If Shenzhen Increase Technology Shares takes out the full calculated possible swing range there will be an estimated 21.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥13.93 (1.31%) than the support at ¥12.92 (6.04%), 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 Increase Technology Shares stock A Buy?
Shenzhen Increase Technology Shares 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.
Current score: -0.781 Hold/Accumulate Unchanged
Predicted Opening Price for Shenzhen Increase Technology Shares of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| ¥12.74 ( 7.32%) | ¥13.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300713.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.04 | 16.68% |
| R2 | 14.78 | 7.51% |
| R1 | 14.00 | 1.85% |
| Price | 13.75 | |
| S1 | 11.48 | -16.49% |
| S2 | 10.70 | -22.15% |
| S3 | 9.44 | -31.32% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.89 | 8.29% |
| R2 | 14.33 | 4.22% |
| R1 | 13.93 | 1.31% |
| Price | 13.75 | |
| S1 | 12.92 | -6.04% |
| S2 | 12.60 | -8.36% |
| S3 | 10.74 | -21.89% |
300713 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 19, 2018 | Jun 19, 2018 | Jun 19, 2018 | ¥0.0337 | 0.156% |
FAQ
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