Shenzhen Sosen Electronics Co.,ltd. Stock Forecast
Weaker technical forecast for Shenzhen Sosen Electronics Co.,ltd. as stock downgraded to Hold/Accumulate.
(Updated on Jun 28, 2024)
The Shenzhen Sosen Electronics Co.,ltd. stock price gained 0.119% on the last trading day (Friday, 28th Jun 2024), rising from ¥16.85 to ¥16.87. During the last trading day the stock fluctuated 8.23% from a day low at ¥16.17 to a day high of ¥17.50. The price has risen in 6 of the last 10 days and is up by 17.73% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 6 million shares were bought and sold for approximately ¥104.04 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 lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ¥17.50 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 11.47% during the next 3 months and, with a 90% probability hold a price between ¥15.55 and ¥19.51 at the end of this 3-month period.
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301002.SZ Signals & Forecast
The Shenzhen Sosen Electronics Co.,ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ¥16.52 and ¥15.07. A breakdown below any of these levels will issue sell signals. 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. 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, June 20, 2024, and so far it has fallen -0.94%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Shenzhen Sosen Electronics Co.,ltd. stock
Shenzhen Sosen Electronics Co.,ltd. finds support from accumulated volume at ¥16.85 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 ¥1.33 between high and low, or 8.23%. For the last week, the stock has had daily average volatility of 9.24%.
The Shenzhen Sosen Electronics Co.,ltd. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: ¥16.36 (-3.05%) (This stock has high daily movements and this gives high risk. The RSI14 is 78 and this increases the risk substantially. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (301002.SZ) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Shenzhen Sosen Electronics Co.,ltd. to open at ¥16.85, and during the day (based on 14 day Average True Range), to move between ¥15.46 and ¥18.28, which gives a possible trading interval of +/-¥1.41 (+/-8.35%) up or down from last closing price. If Shenzhen Sosen Electronics Co.,ltd. takes out the full calculated possible swing range there will be an estimated 16.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥16.85 (0.12%) than the resistance at ¥17.03 (0.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Shenzhen Sosen Electronics Co.,ltd. stock A Buy?
Shenzhen Sosen Electronics 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: 0.999 Hold/Accumulate Downgraded
Predicted Opening Price for Shenzhen Sosen Electronics Co.,ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ¥16.85 ( 0.138%) | ¥16.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 301002.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.18 | 7.75% |
| R2 | 17.67 | 4.73% |
| R1 | 17.35 | 2.87% |
| Price | 16.87 | |
| S1 | 16.34 | -3.15% |
| S2 | 16.02 | -5.01% |
| S3 | 15.52 | -8.02% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 17.03 | 0.95% |
| Price | 16.87 | |
| S1 | 16.85 | -0.119% |
| S2 | 16.65 | -1.30% |
| S3 | 16.00 | -5.16% |
301002 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 19, 2024 | Jun 19, 2024 | Jun 19, 2024 | ¥0.100 | 0.637% |
| 2 | May 30, 2023 | May 30, 2023 | May 30, 2023 | ¥0.500 | 2.47% |
| 3 | Jun 16, 2022 | Jun 16, 2022 | Jun 16, 2022 | ¥0.154 | 0.655% |
| 4 | Jul 19, 2021 | Jul 19, 2021 | Jul 19, 2021 | ¥0.96 | 1.39% |
FAQ
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