Zhejiang Chint Electrics Co., Ltd. Stock Forecast
Zhejiang Chint Electrics Co., Ltd. stock price up 0.217% on Thursday
(Updated on Jul 04, 2024)
The Zhejiang Chint Electrics Co., Ltd. stock price gained 0.217% on the last trading day (Thursday, 4th Jul 2024), rising from $18.42 to $18.46. During the last trading day the stock fluctuated 1.09% from a day low at $18.40 to a day high of $18.60. The price has been going up and down for this period, and there has been a -6.58% loss for the last 2 weeks. Volume fell on the last day by -811 thousand shares and in total, 8 million shares were bought and sold for approximately $144.82 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 at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $18.42 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Zhejiang Chint Electrics Co., Ltd. stock with a 90% probability to be traded between $18.19 and $21.58 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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601877.SS Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, July 03, 2024, and so far it has risen 0.217%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $18.93 and $20.52. 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).
Support, Risk & Stop-loss for Zhejiang Chint Electrics Co., Ltd. stock
Zhejiang Chint Electrics Co., Ltd. finds support from accumulated volume at $18.42 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 $0.200 between high and low, or 1.09%. For the last week, the stock has had daily average volatility of 2.23%.
Zhejiang Chint Electrics Co., Ltd. is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (601877.SS) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Zhejiang Chint Electrics Co., Ltd. to open at $18.49, and during the day (based on 14 day Average True Range), to move between $17.98 and $18.94, which gives a possible trading interval of +/-$0.483 (+/-2.62%) 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 5.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $18.42 (0.22%) than the resistance at $20.55 (11.32%), 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?
Zhejiang Chint Electrics Co., Ltd. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.145 Sell Candidate Unchanged
Predicted Opening Price for Zhejiang Chint Electrics Co., Ltd. of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| $18.49 ( 0.144%) | $18.46 |
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 | 18.69 | 1.23% |
| R2 | 18.61 | 0.81% |
| R1 | 18.56 | 0.558% |
| Price | 18.46 | |
| S1 | 18.41 | -0.269% |
| S2 | 18.36 | -0.525% |
| S3 | 18.29 | -0.94% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.98 | 19.07% |
| R2 | 21.83 | 18.26% |
| R1 | 20.55 | 11.32% |
| Price | 18.46 | |
| S1 | 18.42 | -0.217% |
| S2 | 0 | - |
| S3 | 0 | - |
601877 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 27, 2024 | Jun 27, 2024 | Jun 27, 2024 | $0.550 | 2.92% |
| 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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