Zhejiang Sunoren Solar Technology Stock Forecast
Zhejiang Sunoren Solar Technology stock price ended at $9.05 on Friday, after losing 0.768%.
(Updated on Jun 21, 2024)
The Zhejiang Sunoren Solar Technology stock price fell by -0.768% on the last day (Friday, 21st Jun 2024) from $9.12 to $9.05. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.77% from a day low at $9.03 to a day high of $9.28. The price has fallen in 7 of the last 10 days and is down by -12.98% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -14 million shares and in total, 15 million shares were bought and sold for approximately $138.83 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $8.75 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 10.74% during the next 3 months and, with a 90% probability hold a price between $9.69 and $12.59 at the end of this 3-month period.
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603105.SS Signals & Forecast
There are few to no technical positive signals at the moment. The Zhejiang Sunoren Solar Technology stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $9.95 and $9.62. 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 -19.34%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Zhejiang Sunoren Solar Technology stock
Zhejiang Sunoren Solar Technology finds support from accumulated volume at $8.73 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 $0.250 between high and low, or 2.77%. For the last week, the stock has had daily average volatility of 4.63%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (603105.SS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Zhejiang Sunoren Solar Technology Co.,Ltd. to open at $9.12, and during the day (based on 14 day Average True Range), to move between $8.44 and $9.66, which gives a possible trading interval of +/-$0.606 (+/-6.70%) up or down from last closing price. If Zhejiang Sunoren Solar Technology Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 13.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $8.73 (3.54%) than the resistance at $10.30 (13.81%), 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 Sunoren Solar Technology Co.,Ltd. stock A Buy?
The Zhejiang Sunoren Solar Technology stock holds several negative signals and despite the positive trend, we believe Zhejiang Sunoren Solar Technology will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.321 Sell Candidate Unchanged
Predicted Opening Price for Zhejiang Sunoren Solar Technology Co.,Ltd. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $9.12 ( 0.773%) | $9.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 603105.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 9.37 | 3.54% |
| R2 | 9.27 | 2.48% |
| R1 | 9.22 | 1.83% |
| Price | 9.05 | |
| S1 | 9.02 | -0.282% |
| S2 | 8.97 | -0.93% |
| S3 | 8.87 | -1.99% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.73 | 18.56% |
| R2 | 10.58 | 16.91% |
| R1 | 10.30 | 13.81% |
| Price | 9.05 | |
| S1 | 8.73 | -3.54% |
| S2 | 8.47 | -6.41% |
| S3 | 8.38 | -7.40% |
603105 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 17, 2024 | May 17, 2024 | May 17, 2024 | $0.150 | 1.69% |
| 2 | Apr 20, 2023 | Apr 20, 2023 | Apr 20, 2023 | $0.120 | 0.793% |
| 3 | May 30, 2022 | May 30, 2022 | May 30, 2022 | $0.0700 | 0.706% |
| 4 | May 24, 2021 | May 24, 2021 | May 24, 2021 | $0.0500 | 0.673% |
| 5 | May 31, 2019 | May 31, 2019 | May 31, 2019 | $0.100 | 0.743% |
FAQ
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