Shandong Yuma Sun-shading Technology Stock Forecast
Red day on Thursday for Shandong Yuma Sun-shading Technology stock after losing 4.36%
(Updated on Jun 20, 2024)
The Shandong Yuma Sun-shading Technology stock price fell by -4.36% on the last day (Thursday, 20th Jun 2024) from ¥9.41 to ¥9.00. During the last trading day the stock fluctuated 5.90% from a day low at ¥8.99 to a day high of ¥9.52. The price has fallen in 7 of the last 10 days and is down by -18.48% for this period. Volume has increased on the last day by 720 thousand 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, 10 million shares were bought and sold for approximately ¥90.98 million.
The stock has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point (¥9.13) are considered to be a "second chance" to get out. According to the fan-theory ¥6.86 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
300993.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Shandong Yuma Sun-shading Technology 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 ¥9.96 and ¥10.76. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 11, 2024, and so far it has fallen -26.59%. 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 Shandong Yuma Sun-shading Technology stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ¥0.530 between high and low, or 5.90%. For the last week the stock has had daily average volatility of 10.42%.
Our recommended stop-loss: ¥8.52 (-5.34%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (300993.SZ) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Shandong Yuma Sun-shading Technology Corp., Ltd. to open at ¥9.17, and during the day (based on 14 day Average True Range), to move between ¥8.17 and ¥9.83, which gives a possible trading interval of +/-¥0.83 (+/-9.17%) up or down from last closing price. If Shandong Yuma Sun-shading Technology Corp., Ltd. takes out the full calculated possible swing range there will be an estimated 18.35% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ¥9.60, some ¥0.600 (6.67%) from the current price of ¥9.00, our system finds the risk reward not very attractive.
Is Shandong Yuma Sun-shading Technology Corp., Ltd. stock A Buy?
Shandong Yuma Sun-shading Technology holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Shandong Yuma Sun-shading Technology Corp., Ltd. of Friday, June 21, 2024
Fair opening price June 21, 2024 | Current price |
---|---|
¥9.17 ( 1.89%) | ¥9.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300993.SZ
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 9.70 | 7.78% |
R2 | 9.50 | 5.53% |
R1 | 9.37 | 4.14% |
Price | 9.00 | |
S1 | 8.97 | -0.361% |
S2 | 8.84 | -1.75% |
S3 | 8.64 | -4.00% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 10.32 | 14.67% |
R2 | 9.63 | 7.00% |
R1 | 9.60 | 6.67% |
Price | 9.00 | |
S1 | 0 | - |
S2 | 0 | - |
S3 | 0 | - |
300993 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 18, 2024 | Jun 18, 2024 | Jun 18, 2024 | ¥0.180 | 1.91% |
2 | May 15, 2023 | May 15, 2023 | May 15, 2023 | ¥0.180 | 1.68% |
3 | Jun 10, 2022 | Jun 10, 2022 | Jun 10, 2022 | ¥0.154 | 1.63% |
FAQ
Click here for our free guide on how to buy Shandong Yuma Sun-shading Technology Corp., Ltd. Stock.