Zhenro Services Group Limited Stock Forecast
Big movements in Zhenro Services Group Limited stock price on Tuesday moving 13.29% between high and low
(Updated on Apr 30, 2024)
The Zhenro Services Group Limited stock price gained 6.74% on the last trading day (Tuesday, 30th Apr 2024), rising from HK$0.178 to HK$0.190. It has now gained 5 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 13.29% from a day low at HK$0.173 to a day high of HK$0.196. The price has risen in 7 of the last 10 days and is up by 15.15% over the past 2 weeks. Volume fell on the last day by -3 million shares and in total, 420 thousand shares were bought and sold for approximately HK$79.80 thousand. 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 -16.89% during the next 3 months and, with a 90% probability hold a price between HK$0.125 and HK$0.172 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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6958.HK Signals & Forecast
The Zhenro Services Group Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$0.168 and HK$0.176. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 23.38%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Zhenro Services Group Limited stock
Zhenro Services Group Limited finds support from accumulated volume at HK$0.187 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0230 between high and low, or 13.29%. For the last week the stock has had daily average volatility of 8.95%.
Our recommended stop-loss: HK$0.184 (-3.30%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (6958.HK) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Zhenro Services Group Limited to open at HK$0.186, and during the day (based on 14 day Average True Range), to move between HK$0.177 and HK$0.203, which gives a possible trading interval of +/-HK$0.0133 (+/-7.01%) up or down from last closing price. If Zhenro Services Group Limited takes out the full calculated possible swing range there will be an estimated 14.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$0.187 (1.58%) than the resistance at HK$0.194 (2.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Zhenro Services Group Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 3.604 Buy Candidate Unchanged
Predicted Opening Price for Zhenro Services Group Limited of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| HK$0.186 ( 1.93%) | HK$0.190 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6958.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.209 | 10.18 % | |
| R2 | 0.201 | 5.55 % | ||
| R1 | 0.195 | 2.69 % | ||
| Current price: | 0.190 | |||
| Support | S1 | 0.178 | -6.55 % | |
| S2 | 0.172 | -9.41 % | ||
| S3 | 0.163 | -14.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.228 | 20.00 % | |
| R2 | 0.219 | 15.26 % | ||
| R1 | 0.194 | 2.11 % | ||
| Current price | 0.190 | |||
| Support | S1 | 0.187 | -1.58% | |
| S2 | 0.180 | -5.26% | ||
| S3 | 0.178 | -6.32% |
6958 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 22, 2021 | Jun 22, 2021 | Jun 22, 2021 | HK$0.0800 | 1.63% |
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