Zhejiang Zomax Transmission Co., Ltd. Stock Forecast
Big movements in Zhejiang Zomax Transmission Co., Ltd. stock price on Tuesday moving 11.46% between high and low
(Updated on Jun 25, 2024)
The Zhejiang Zomax Transmission Co., Ltd. stock price gained 5.44% on the last trading day (Tuesday, 25th Jun 2024), rising from $11.76 to $12.40. During the last trading day the stock fluctuated 11.46% from a day low at $11.61 to a day high of $12.94. The price has been going up and down for this period, and there has been a -6.7% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 million more shares were traded than the day before. In total, 12 million shares were bought and sold for approximately $145.19 million.
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 -15.98% during the next 3 months and, with a 90% probability hold a price between $8.74 and $10.99 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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603767.SS Signals & Forecast
There are mixed signals in the stock today. The Zhejiang Zomax Transmission 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 $12.62 and $12.99. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 5.44%. 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 Zomax Transmission Co., Ltd. stock
Zhejiang Zomax Transmission Co., Ltd. finds support from accumulated volume at $12.39 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 $1.33 between high and low, or 11.46%. For the last week, the stock has had daily average volatility of 6.95%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (603767.SS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Zhejiang Zomax Transmission Co., Ltd. to open at $12.32, and during the day (based on 14 day Average True Range), to move between $11.75 and $13.05, which gives a possible trading interval of +/-$0.655 (+/-5.28%) up or down from last closing price. If Zhejiang Zomax Transmission Co., Ltd. takes out the full calculated possible swing range there will be an estimated 10.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $12.39 (0.08%) than the resistance at $13.29 (7.18%), 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 Zomax Transmission Co., Ltd. stock A Buy?
Zhejiang Zomax Transmission Co., Ltd. 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: -1.833 Sell Candidate Unchanged
Predicted Opening Price for Zhejiang Zomax Transmission Co., Ltd. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $12.32 ( 0.672%) | $12.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 603767.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.65 | 10.05% |
| R2 | 13.14 | 5.96% |
| R1 | 12.82 | 3.43% |
| Price | 12.40 | |
| S1 | 11.81 | -4.77% |
| S2 | 11.49 | -7.30% |
| S3 | 10.99 | -11.40% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.51 | 8.95% |
| R2 | 13.45 | 8.47% |
| R1 | 13.29 | 7.18% |
| Price | 12.40 | |
| S1 | 12.39 | -0.0806% |
| S2 | 12.34 | -0.484% |
| S3 | 11.76 | -5.16% |
603767 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 22, 2024 | May 22, 2024 | May 22, 2024 | $0.200 | 1.55% |
| 2 | May 17, 2023 | May 17, 2023 | May 17, 2023 | $0.300 | 4.26% |
| 3 | May 10, 2022 | May 10, 2022 | May 10, 2022 | $0.300 | 3.89% |
| 4 | Jun 08, 2021 | Jun 08, 2021 | Jun 08, 2021 | $0.150 | 2.24% |
| 5 | May 26, 2020 | May 26, 2020 | May 26, 2020 | $0.200 | 2.95% |
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