Shenzhen Longli Technology Co Ltd Stock Forecast
Shenzhen Longli Technology Co Ltd stock downgraded to Hold/Accumulate
(Updated on Apr 30, 2024)
The Shenzhen Longli Technology Co Ltd stock price gained 0.577% on the last trading day (Tuesday, 30th Apr 2024), rising from ¥12.13 to ¥12.20. During the last trading day the stock fluctuated 9.48% from a day low at ¥11.18 to a day high of ¥12.24. The price has risen in 6 of the last 10 days and is up by 29.79% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 5 million shares were bought and sold for approximately ¥58.15 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Shenzhen Longli Technology Co Ltd stock with a 90% probability to be traded between ¥8.53 and ¥13.44 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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300752.SZ Signals & Forecast
The Shenzhen Longli Technology 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 ¥11.24 and ¥11.88. 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 29.79%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Shenzhen Longli Technology Co Ltd stock
Shenzhen Longli Technology Co Ltd finds support from accumulated volume at ¥11.63 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ¥1.06 between high and low, or 9.48%. For the last week, the stock has had daily average volatility of 8.81%.
Our recommended stop-loss: ¥11.79 (-3.38%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (300752.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Shenzhen Longli Technology Co Ltd to open at ¥11.87, and during the day (based on 14 day Average True Range), to move between ¥11.21 and ¥13.19, which gives a possible trading interval of +/-¥0.99 (+/-8.10%) up or down from last closing price. If Shenzhen Longli Technology Co Ltd takes out the full calculated possible swing range there will be an estimated 16.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥12.47 (2.21%) than the support at ¥11.63 (4.67%), 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 Longli Technology Co Ltd stock A Buy?
Shenzhen Longli Technology 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.720 Hold/Accumulate Downgraded
Predicted Opening Price for Shenzhen Longli Technology Co Ltd of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
¥11.87 ( 2.68%) | ¥12.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300752.SZ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 12.93 | 6.01 % | |
R2 | 12.53 | 2.69 % | ||
R1 | 12.28 | 0.641 % | ||
Current price: | 12.20 | |||
Support | S1 | 11.47 | -6.00 % | |
S2 | 11.22 | -8.05 % | ||
S3 | 10.81 | -11.37 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 12.76 | 4.59 % | |
R2 | 12.73 | 4.34 % | ||
R1 | 12.47 | 2.21 % | ||
Current price | 12.20 | |||
Support | S1 | 11.63 | -4.67% | |
S2 | 11.01 | -9.75% | ||
S3 | 9.92 | -18.69% |
300752 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 03, 2021 | Jun 03, 2021 | Jun 03, 2021 | ¥0.0500 | 0.307% |
2 | Apr 15, 2020 | Apr 15, 2020 | Apr 15, 2020 | ¥0.0906 | 0.640% |
3 | May 28, 2019 | May 28, 2019 | May 28, 2019 | ¥0.391 | 2.06% |
FAQ
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