Shenzhen Mindray Bio-Medl Elctrnc Co Ltd Stock Forecast
Red day on Thursday for Shenzhen Mindray Bio-Medl Elctrnc Co Ltd
(Updated on Mar 28, 2024)
The Shenzhen Mindray Bio-Medl Elctrnc Co Ltd stock price fell by -1.22% on the last day (Thursday, 28th Mar 2024) from ¥283.36 to ¥279.89. It has now fallen 10 days in a row. During the last trading day the stock fluctuated 4.50% from a day low at ¥277.39 to a day high of ¥289.88. The price has fallen in 10 of the last 10 days and is down by -5.97% for this period. Volume has increased on the last day by 2 million 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, 5 million shares were bought and sold for approximately ¥1.27 billion.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥277.11 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 5.58% during the next 3 months and, with a 90% probability hold a price between ¥292.59 and ¥325.98 at the end of this 3-month period.
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300760.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Shenzhen Mindray Bio-Medl Elctrnc 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 ¥286.94 and ¥293.59. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 12, 2024, and so far it has fallen -8.36%. 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 Shenzhen Mindray Bio-Medl Elctrnc Co Ltd stock
Shenzhen Mindray Bio-Medl Elctrnc Co Ltd finds support from accumulated volume at ¥274.86 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ¥12.49 (4.50%) between high and low. For the last week, the stock has had daily average volatility of 2.36%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (300760.SZ) For The Upcoming Trading Day Of Friday 29th
For the upcoming trading day on Friday, 29th we expect Shenzhen Mindray Bio-Medl Elctrnc Co Ltd to open at ¥282.39, and during the day (based on 14 day Average True Range), to move between ¥273.11 and ¥286.67, which gives a possible trading interval of +/-¥6.78 (+/-2.42%) up or down from last closing price. If Shenzhen Mindray Bio-Medl Elctrnc Co Ltd takes out the full calculated possible swing range there will be an estimated 4.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥284.34 (1.59%) than the support at ¥274.86 (1.80%), 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 Mindray Bio-Medl Elctrnc Co Ltd stock A Buy?
The Shenzhen Mindray Bio-Medl Elctrnc Co Ltd stock holds several negative signals and despite the positive trend, we believe Shenzhen Mindray Bio-Medl Elctrnc Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.861 Sell Candidate Unchanged
Predicted Opening Price for Shenzhen Mindray Bio-Medl Elctrnc Co Ltd of Friday, March 29, 2024
Fair opening price March 29, 2024 | Current price |
---|---|
¥282.39 ( 0.89%) | ¥279.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300760.SZ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 294.88 | 5.35 % | |
R2 | 290.11 | 3.65 % | ||
R1 | 287.16 | 2.60 % | ||
Current price: | 279.89 | |||
Support | S1 | 277.62 | -0.81 % | |
S2 | 274.67 | -1.87 % | ||
S3 | 269.90 | -3.57 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 301.00 | 7.54 % | |
R2 | 292.50 | 4.51 % | ||
R1 | 284.34 | 1.59 % | ||
Current price | 279.89 | |||
Support | S1 | 274.86 | -1.80% | |
S2 | 272.98 | -2.47% | ||
S3 | 269.00 | -3.89% |
300760 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Nov 22, 2023 | Nov 22, 2023 | Nov 22, 2023 | ¥4.30 | 1.52% |
2 | May 29, 2023 | May 29, 2023 | May 29, 2023 | ¥4.50 | 1.44% |
3 | May 19, 2022 | May 19, 2022 | May 19, 2022 | ¥3.50 | 1.16% |
4 | May 28, 2021 | May 28, 2021 | May 28, 2021 | ¥2.50 | 0.516% |
5 | May 15, 2020 | May 15, 2020 | May 15, 2020 | ¥1.50 | 0.577% |
FAQ
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