Zhejiang Chint Electrics Co., Ltd. Stock Forecast
Zhejiang Chint Electrics Co., Ltd. stock upgraded to Buy Candidate.
(Updated on Jun 26, 2024)
The Zhejiang Chint Electrics Co., Ltd. stock price gained 1.54% on the last trading day (Wednesday, 26th Jun 2024), rising from $19.47 to $19.77. During the last trading day the stock fluctuated 3.12% from a day low at $19.22 to a day high of $19.82. The price has fallen in 6 of the last 10 days and is down by -2.8% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 439 thousand more shares were traded than the day before. In total, 8 million shares were bought and sold for approximately $162.08 million.
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 $19.48 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 3.74% during the next 3 months and, with a 90% probability hold a price between $20.21 and $23.14 at the end of this 3-month period.
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601877.SS Signals & Forecast
The Zhejiang Chint Electrics 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 $19.87 and $20.89. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 1.54%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Zhejiang Chint Electrics Co., Ltd. stock
Zhejiang Chint Electrics Co., Ltd. finds support from accumulated volume at $19.59 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 $0.600 between high and low, or 3.12%. For the last week, the stock has had daily average volatility of 2.15%.
Our recommended stop-loss: $18.52 (-6.32%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (601877.SS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Zhejiang Chint Electrics Co., Ltd. to open at $19.60, and during the day (based on 14 day Average True Range), to move between $19.29 and $20.25, which gives a possible trading interval of +/-$0.477 (+/-2.41%) up or down from last closing price. If Zhejiang Chint Electrics Co., Ltd. takes out the full calculated possible swing range there will be an estimated 4.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $19.59 (0.91%) than the resistance at $20.55 (3.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Zhejiang Chint Electrics Co., Ltd. stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.411 Buy Candidate Upgraded
Predicted Opening Price for Zhejiang Chint Electrics Co., Ltd. of Thursday, June 27, 2024
Fair opening price June 27, 2024 | Current price |
---|---|
$19.60 ( 0.84%) | $19.77 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 601877.SS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 20.20 | 2.19% |
R2 | 19.97 | 1.03% |
R1 | 19.83 | 0.316% |
Price | 19.77 | |
S1 | 19.37 | -2.00% |
S2 | 19.23 | -2.72% |
S3 | 19.00 | -3.88% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 21.98 | 11.18% |
R2 | 21.83 | 10.42% |
R1 | 20.55 | 3.95% |
Price | 19.77 | |
S1 | 19.59 | -0.91% |
S2 | 19.49 | -1.42% |
S3 | 19.27 | -2.53% |
601877 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 27, 2024 | Jun 27, 2024 | Jun 27, 2024 | $0.550 | 2.78% |
2 | Jul 13, 2023 | Jul 13, 2023 | Jul 13, 2023 | $0.400 | 1.44% |
3 | Jul 19, 2022 | Jul 19, 2022 | Jul 19, 2022 | $0.400 | 1.02% |
4 | Jul 07, 2021 | Jul 07, 2021 | Jul 07, 2021 | $0.500 | 1.61% |
5 | Jun 24, 2020 | Jun 24, 2020 | Jun 24, 2020 | $0.500 | 1.91% |
FAQ
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