Zhejiang Shengyang Science and Stock Forecast
Zhejiang Shengyang Science and stock price ended at $10.03 on Friday, after gaining 2.03%.
(Updated on Jun 28, 2024)
The Zhejiang Shengyang Science and stock price gained 2.03% on the last trading day (Friday, 28th Jun 2024), rising from $9.83 to $10.03. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.86% from a day low at $9.68 to a day high of $10.15. The price has risen in 6 of the last 10 days and is up by 4.81% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 6 million shares were bought and sold for approximately $59.41 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 lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -6.70% during the next 3 months and, with a 90% probability hold a price between $7.93 and $10.23 at the end of this 3-month period.
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603703.SS Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 9.14%. 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 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 Shengyang Science and stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $10.14. On a fall, the stock will find some support from the short-term average at $9.84. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
A buy signal from a double bottom formation was found on Thursday, June 06, 2024 and based on theory for this formation the price should go up by 23.18% to $12.35 within 34 trading days since signal was issued (Thursday, July 25, 2024).
Support, Risk & Stop-loss for Zhejiang Shengyang Science and stock
Zhejiang Shengyang Science and finds support from accumulated volume at $10.00 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 $0.470 between high and low, or 4.86%. For the last week, the stock has had daily average volatility of 5.37%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (603703.SS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Zhejiang Shengyang Science and Technology Co., Ltd. to open at $9.95, and during the day (based on 14 day Average True Range), to move between $9.55 and $10.51, which gives a possible trading interval of +/-$0.481 (+/-4.80%) up or down from last closing price. If Zhejiang Shengyang Science and Technology Co., Ltd. takes out the full calculated possible swing range there will be an estimated 9.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.00 (0.30%) than the resistance at $10.18 (1.50%), 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 Shengyang Science and Technology Co., Ltd. stock A Buy?
Zhejiang Shengyang Science and 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: -1.532 Sell Candidate Unchanged
Predicted Opening Price for Zhejiang Shengyang Science and Technology Co., Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $9.95 ( 0.764%) | $10.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 603703.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.42 | 3.92% |
| R2 | 10.24 | 2.13% |
| R1 | 10.13 | 1.03% |
| Price | 10.03 | |
| S1 | 9.77 | -2.55% |
| S2 | 9.66 | -3.66% |
| S3 | 9.48 | -5.45% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.25 | 12.16% |
| R2 | 10.34 | 3.09% |
| R1 | 10.18 | 1.50% |
| Price | 10.03 | |
| S1 | 10.00 | -0.299% |
| S2 | 9.67 | -3.59% |
| S3 | 9.55 | -4.79% |
603703 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 08, 2020 | Jul 08, 2020 | Jul 08, 2020 | $0.0100 | 0.102% |
| 2 | Jun 05, 2018 | Jun 05, 2018 | Jun 05, 2018 | $0.0320 | 0.375% |
| 3 | Jun 13, 2017 | Jun 13, 2017 | Jun 13, 2017 | $0.0240 | 0.207% |
| 4 | May 23, 2016 | May 23, 2016 | May 23, 2016 | $0.156 | 0.773% |
FAQ
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