Shanghai Mechanical & Electrical Stock Forecast
Green day on Wednesday for Shanghai Mechanical & Electrical stock after gaining 0.262%
(Updated on Jun 26, 2024)
The Shanghai Mechanical & Electrical stock price gained 0.262% on the last trading day (Wednesday, 26th Jun 2024), rising from $11.46 to $11.49. During the last trading day the stock fluctuated 2.57% from a day low at $11.30 to a day high of $11.59. The price has fallen in 6 of the last 10 days and is down by -5.35% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 939 thousand more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately $58.67 million.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $11.28 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -3.53% during the next 3 months and, with a 90% probability hold a price between $10.88 and $13.41 at the end of this 3-month period.
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600835.SS Signals & Forecast
There are mixed signals in the stock today. The Shanghai Mechanical & Electrical 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 $11.61 and $12.69. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 1.68%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Shanghai Mechanical & Electrical stock
Shanghai Mechanical & Electrical finds support from accumulated volume at $11.46 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.290 between high and low, or 2.57%. For the last week, the stock has had daily average volatility of 2.42%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (600835.SS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Shanghai Mechanical & Electrical Industry Co.,Ltd. to open at $11.46, and during the day (based on 14 day Average True Range), to move between $11.15 and $11.83, which gives a possible trading interval of +/-$0.336 (+/-2.92%) up or down from last closing price. If Shanghai Mechanical & Electrical Industry Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 5.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $11.46 (0.26%) than the resistance at $12.62 (9.83%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Shanghai Mechanical & Electrical Industry Co.,Ltd. stock A Buy?
Shanghai Mechanical & Electrical holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.214 Sell Candidate Unchanged
Predicted Opening Price for Shanghai Mechanical & Electrical Industry Co.,Ltd. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $11.46 ( 0.261%) | $11.49 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600835.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.75 | 2.26% |
| R2 | 11.64 | 1.30% |
| R1 | 11.57 | 0.703% |
| Price | 11.49 | |
| S1 | 11.35 | -1.23% |
| S2 | 11.28 | -1.82% |
| S3 | 11.17 | -2.79% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.43 | 16.88% |
| R2 | 13.19 | 14.80% |
| R1 | 12.62 | 9.83% |
| Price | 11.49 | |
| S1 | 11.46 | -0.261% |
| S2 | 11.30 | -1.65% |
| S3 | 0 | - |
600835 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 04, 2024 | Jun 04, 2024 | Jun 04, 2024 | $0.440 | 3.49% |
| 2 | Jul 10, 2023 | Jul 10, 2023 | Jul 10, 2023 | $0.430 | 2.86% |
| 3 | Jul 13, 2022 | Jul 13, 2022 | Jul 13, 2022 | $0.290 | 2.29% |
| 4 | Jul 14, 2021 | Jul 14, 2021 | Jul 14, 2021 | $0.390 | 2.56% |
| 5 | Jul 14, 2020 | Jul 14, 2020 | Jul 14, 2020 | $0.370 | 2.15% |
FAQ
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