Zhuzhou Hongda Electronics Corp Ltd Stock Forecast
Zhuzhou Hongda Electronics Corp Ltd stock upgraded to Buy Candidate.
(Updated on May 07, 2024)
The Zhuzhou Hongda Electronics Corp Ltd stock price gained 4.06% on the last trading day (Tuesday, 7th May 2024), rising from ¥23.14 to ¥24.08. During the last trading day the stock fluctuated 5.44% from a day low at ¥22.98 to a day high of ¥24.23. The price has risen in 6 of the last 10 days and is up by 10.31% 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, 9 million shares were bought and sold for approximately ¥217.58 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -7.21% during the next 3 months and, with a 90% probability hold a price between ¥18.74 and ¥23.37 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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300726.SZ Signals & Forecast
Mostly positive signals in the chart today. The Zhuzhou Hongda Electronics Corp 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 ¥23.04 and ¥23.39. 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 16.72%. 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 Zhuzhou Hongda Electronics Corp Ltd stock
Zhuzhou Hongda Electronics Corp Ltd finds support from accumulated volume at ¥23.88 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 ¥1.25 between high and low, or 5.44%. For the last week, the stock has had daily average volatility of 5.08%.
Our recommended stop-loss: ¥23.19 (-3.70%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (300726.SZ) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Zhuzhou Hongda Electronics Corp Ltd to open at ¥23.76, and during the day (based on 14 day Average True Range), to move between ¥22.88 and ¥25.28, which gives a possible trading interval of +/-¥1.20 (+/-4.98%) up or down from last closing price. If Zhuzhou Hongda Electronics Corp Ltd takes out the full calculated possible swing range there will be an estimated 9.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥23.88 (0.83%) than the resistance at ¥25.15 (4.44%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Zhuzhou Hongda Electronics Corp Ltd will release earnings BMO on Tuesday, May 14, 2024. We will update the financials statements for Zhuzhou Hongda Electronics Corp Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.78% in the first trading day after earnings release.
Is Zhuzhou Hongda Electronics Corp Ltd stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.806 Buy Candidate Upgraded
Predicted Opening Price for Zhuzhou Hongda Electronics Corp Ltd of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| ¥23.76 ( 1.32%) | ¥24.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300726.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.01 | 3.88 % | |
| R2 | 24.54 | 1.89 % | ||
| R1 | 24.24 | 0.668 % | ||
| Current price: | 24.08 | |||
| Support | S1 | 23.29 | -3.30 % | |
| S2 | 22.99 | -4.52 % | ||
| S3 | 22.51 | -6.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.31 | 9.26 % | |
| R2 | 25.37 | 5.36 % | ||
| R1 | 25.15 | 4.44 % | ||
| Current price | 24.08 | |||
| Support | S1 | 23.88 | -0.83% | |
| S2 | 22.87 | -5.02% | ||
| S3 | 22.71 | -5.69% |
300726 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 16, 2023 | May 16, 2023 | May 16, 2023 | ¥0.500 | 1.24% |
| 2 | May 26, 2022 | May 26, 2022 | May 26, 2022 | ¥0.600 | 1.06% |
| 3 | May 06, 2021 | May 06, 2021 | May 06, 2021 | ¥0.160 | 0.256% |
| 4 | Apr 17, 2020 | Apr 17, 2020 | Apr 17, 2020 | ¥0.300 | 1.16% |
| 5 | Jun 12, 2019 | Jun 12, 2019 | Jun 12, 2019 | ¥0.250 | 1.08% |
FAQ
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