Zhejiang Dehong Automotive Electronic & Stock Forecast
Evaluation of Zhejiang Dehong Automotive Electronic & stock downgraded after the last trading session.
(Updated on Jun 28, 2024)
The Zhejiang Dehong Automotive Electronic & stock price gained 2.32% on the last trading day (Friday, 28th Jun 2024), rising from $10.34 to $10.58. During the last trading day the stock fluctuated 5.96% from a day low at $10.23 to a day high of $10.84. The price has fallen in 6 of the last 10 days and is down by -0.94% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 937 thousand more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $38.96 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Zhejiang Dehong Automotive Electronic & stock with a 90% probability to be traded between $8.80 and $11.94 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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603701.SS Signals & Forecast
There are mixed signals in the stock today. The Zhejiang Dehong Automotive Electronic & 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 $10.68 and $10.91. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 7.74%. 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 Zhejiang Dehong Automotive Electronic & stock
Zhejiang Dehong Automotive Electronic & finds support from accumulated volume at $10.52 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 $0.610 between high and low, or 5.96%. For the last week, the stock has had daily average volatility of 5.47%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (603701.SS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd. to open at $10.55, and during the day (based on 14 day Average True Range), to move between $10.03 and $11.13, which gives a possible trading interval of +/-$0.549 (+/-5.19%) up or down from last closing price. If Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd. takes out the full calculated possible swing range there will be an estimated 10.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.52 (0.57%) than the resistance at $11.15 (5.39%), 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 Dehong Automotive Electronic & Electrical Co., Ltd. stock A Buy?
Zhejiang Dehong Automotive Electronic & 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.437 Sell Candidate Downgraded
Predicted Opening Price for Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $10.55 ( 0.284%) | $10.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 603701.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.16 | 5.48% |
| R2 | 10.93 | 3.28% |
| R1 | 10.78 | 1.92% |
| Price | 10.58 | |
| S1 | 10.32 | -2.49% |
| S2 | 10.17 | -3.85% |
| S3 | 9.94 | -6.05% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.40 | 7.75% |
| R2 | 11.34 | 7.18% |
| R1 | 11.15 | 5.39% |
| Price | 10.58 | |
| S1 | 10.52 | -0.567% |
| S2 | 9.82 | -7.18% |
| S3 | 9.56 | -9.64% |
603701 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 04, 2024 | Jun 04, 2024 | Jun 04, 2024 | $0.0250 | 0.239% |
| 2 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | $0.0500 | 0.568% |
| 3 | Jun 23, 2021 | Jun 23, 2021 | Jun 23, 2021 | $0.0500 | 0.561% |
| 4 | Jun 04, 2020 | Jun 04, 2020 | Jun 04, 2020 | $0.154 | 1.67% |
| 5 | Jun 05, 2019 | Jun 05, 2019 | Jun 05, 2019 | $0.275 | 2.70% |
FAQ
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