Zhuzhou Hongda Electronics Corp Ltd Stock Forecast
Stronger technical forecast for Zhuzhou Hongda Electronics Corp Ltd stock price after Friday trading.
(Updated on May 17, 2024)
The Zhuzhou Hongda Electronics Corp Ltd stock price gained 2.43% on the last trading day (Friday, 17th May 2024), rising from ¥23.45 to ¥24.02. During the last trading day the stock fluctuated 8.49% from a day low at ¥23.32 to a day high of ¥25.30. The price has been going up and down for this period, and there has been a 6.57% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately ¥105.76 million.
The stock lies in the middle of a very 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 -6.53% during the next 3 months and, with a 90% probability hold a price between ¥18.73 and ¥23.58 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
The Zhuzhou Hongda Electronics Corp Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ¥24.20. On a fall, the stock will find some support from the long-term average at approximately ¥23.03. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. 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 Thursday, May 09, 2024, and so far it has fallen -5.47%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Zhuzhou Hongda Electronics Corp Ltd stock
Zhuzhou Hongda Electronics Corp Ltd finds support from accumulated volume at ¥23.45 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 ¥1.98 between high and low, or 8.49%. For the last week, the stock has had daily average volatility of 7.42%.
Our recommended stop-loss: ¥22.72 (-5.41%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (300726.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Zhuzhou Hongda Electronics Corp Ltd to open at ¥24.21, and during the day (based on 14 day Average True Range), to move between ¥22.51 and ¥25.53, which gives a possible trading interval of +/-¥1.51 (+/-6.27%) 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 12.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥24.08 (0.25%) than the support at ¥23.45 (2.37%), 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 Zhuzhou Hongda Electronics Corp Ltd stock A Buy?
Zhuzhou Hongda Electronics Corp 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: 0.161 Hold/Accumulate Upgraded
Predicted Opening Price for Zhuzhou Hongda Electronics Corp Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥24.21 ( 0.80%) | ¥24.02 |
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 | 26.19 | 9.05 % | |
| R2 | 25.44 | 5.90 % | ||
| R1 | 24.97 | 3.95 % | ||
| Current price: | 24.02 | |||
| Support | S1 | 23.46 | -2.34 % | |
| S2 | 22.99 | -4.29 % | ||
| S3 | 22.23 | -7.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.41 | 5.79 % | |
| R2 | 24.96 | 3.91 % | ||
| R1 | 24.08 | 0.250 % | ||
| Current price | 24.02 | |||
| Support | S1 | 23.45 | -2.37% | |
| S2 | 22.87 | -4.79% | ||
| S3 | 22.71 | -5.45% |
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% |
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