Zhejiang Chunhui Intelligent Control Stock Forecast
Zhejiang Chunhui Intelligent Control stock upgraded to Hold/Accumulate.
(Updated on Jun 28, 2024)
The Zhejiang Chunhui Intelligent Control stock price gained 1.98% on the last trading day (Friday, 28th Jun 2024), rising from ¥10.58 to ¥10.79. During the last trading day the stock fluctuated 4.80% from a day low at ¥10.41 to a day high of ¥10.91. The price has been going up and down for this period, and there has been a -0.74% loss for the last 2 weeks. Volume fell on the last day by -2 million shares and in total, 5 million shares were bought and sold for approximately ¥50.18 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 Zhejiang Chunhui Intelligent Control stock with a 90% probability to be traded between ¥9.32 and ¥13.38 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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300943.SZ Signals & Forecast
There are mixed signals in the stock today. The Zhejiang Chunhui Intelligent Control stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ¥11.19. On a fall, the stock will find some support from the short-term average at ¥10.52. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 8.22%. Further rise is indicated until a new top pivot has been found. 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 Zhejiang Chunhui Intelligent Control stock
Zhejiang Chunhui Intelligent Control finds support from accumulated volume at ¥10.58 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 ¥0.500 between high and low, or 4.80%. For the last week, the stock has had daily average volatility of 8.43%.
Our recommended stop-loss: ¥10.24 (-5.11%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (300943.SZ) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Zhejiang Chunhui Intelligent Control Co., Ltd. to open at ¥10.70, and during the day (based on 14 day Average True Range), to move between ¥9.98 and ¥11.60, which gives a possible trading interval of +/-¥0.81 (+/-7.48%) up or down from last closing price. If Zhejiang Chunhui Intelligent Control Co., Ltd. takes out the full calculated possible swing range there will be an estimated 14.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥10.58 (1.95%) than the resistance at ¥11.62 (7.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Zhejiang Chunhui Intelligent Control Co., Ltd. stock A Buy?
Zhejiang Chunhui Intelligent Control 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: 0.394 Hold/Accumulate Upgraded
Predicted Opening Price for Zhejiang Chunhui Intelligent Control Co., Ltd. of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
¥10.70 ( 0.80%) | ¥10.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300943.SZ
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 11.20 | 3.83% |
R2 | 11.01 | 2.06% |
R1 | 10.89 | 0.97% |
Price | 10.79 | |
S1 | 10.51 | -2.57% |
S2 | 10.39 | -3.67% |
S3 | 10.20 | -5.44% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 13.06 | 21.04% |
R2 | 12.82 | 18.81% |
R1 | 11.62 | 7.69% |
Price | 10.79 | |
S1 | 10.58 | -1.95% |
S2 | 10.55 | -2.22% |
S3 | 10.28 | -4.73% |
300943 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 30, 2024 | May 30, 2024 | May 30, 2024 | ¥0.120 | 0.98% |
2 | May 30, 2023 | May 30, 2023 | May 30, 2023 | ¥0.150 | 0.92% |
3 | May 31, 2022 | May 31, 2022 | May 31, 2022 | ¥0.110 | 0.761% |
4 | Jun 17, 2021 | Jun 17, 2021 | Jun 17, 2021 | ¥0.0667 | 0.447% |
FAQ
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