On June 5, 2026, Inovance Technology (300124) closed at 75.08 yuan, up 1.25%, with an intraday high of 77.63 yuan and a low of 72.14 yuan. The amplitude throughout the day was nearly 7.5%, and it closed a positive line with a long lower shadow.
Against the background of the overall rise of 2.76% in the automation equipment sector, Inovance Technology’s growth rate was slightly lower than that of the sector, but it still remained strong.
The whole-day turnover was 3.978 billion yuan, the trading volume was 531,800 lots, the turnover rate was 2.21%, and the volume ratio was as high as 1.32 (significantly greater than 1, indicating that the day’s activity was much higher than the average level of the past five days).
The current total market value is 203.29 billion yuan, the circulating market value is 180.97 billion yuan, and the dynamic price-to-earnings ratio is 42.88 times.
In terms of related ETFs, the GEM New Energy ETF Cathay Pacific fell 1.54% that day, in which Inovance Technology weighed as much as 10.7%.
The ETF fell while the underlying stock rose, indicating that the individual stocks themselves had strong buying orders and successfully resisted the pressure of passive reduction.
In terms of technical form, the positive line on Friday reached M5 (74.91 yuan) and M30 (73.42 yuan) in one fell swoop, but was still suppressed by M10 (76.08 yuan) and M20 (76.28 yuan).
The moving average system is in a bonded state, waiting for direction selection.
Looking from the daily K-line chart, Inovance Technology has experienced nearly a month of adjustments since it fell back from the previous high of 84.40 yuan, with the lowest touching 72.14 yuan (Friday’s low) and the maximum retracement of about 14.5%.
Friday’s K-line has several key features:
- Long lower shadow: the lowest is 72.14 yuan, the closing price is 75.08 yuan, and the length of the lower shadow is nearly 3 yuan, indicating that there is strong funding around 72 yuan, forming a “golden needle to explore the bottom” pattern.
- High volume: The trading volume was 531,800 lots, which was higher than the 5-day average volume (426,600) and the 10-day average volume (460,500). The volume ratio was 1.32, which indicated that the volume was stabilizing, and there were obvious signs of incremental funds entering the market.
- Key position: Pull back to the 30-day line (73.42 yuan) to gain support and pull up, which is an important lifeline for strong stocks.
However, the pressure on the upper moving average still exists: M10 (76.08) and M20 (76.28) form a double suppression, and the stock price is still lower than these two lines.
To confirm the reversal, heavy volume must break above 76.50 yuan.
In terms of support below, Friday’s low of 72.14 yuan has become an important support level, with strong support at the 70-yuan integer mark.
The volume ratio of 1.32 is a positive signal, indicating that the trading volume on that day was significantly higher than the average level of the past five days, and that the volume was increasing during the bottom-out process, which is a healthy “price increase and volume increase”.
The turnover rate of 2.21% is a moderately active level for a blue-chip stock like Inovance Technology with a market value of 200 billion, neither deserted nor overheated.
It is worth noting that despite the ETF with a weight of 10.7% falling by 1.54%, Inovance Technology was still able to buck the trend and close up, indicating that active buying independent of the ETF is entering the market.
This may be institutional funds starting to cover their positions.
Inovance Technology is a leading enterprise in domestic industrial automation, new energy vehicle electronic control, elevator and other fields.
The current PE is 42.88 times, which is at a mid-low level compared with history (historical PE range is 30-70 times).
The recent market concerns are as follows:
- Industrial robots/automation recovery: Manufacturing PMI stabilizes, industrial automation demand is expected to pick up, and Inovance, as a domestic leader, will directly benefit.
- New energy vehicle business: The company’s electronic control products continue to increase its share in the passenger vehicle field, benefiting from the increased penetration of new energy vehicles.
- Humanoid robot concept: Inovance has leading technologies in servo systems, controllers and other fields. It is the core target of the robot industry chain and has attracted financial attention.
- Steady performance: The company’s historical performance growth is stable, and the expected growth rate in 2025 and 2026 remains above 20%. 42 times PE corresponds to about 2 times PEG, which is reasonable and slightly low.
The risk is that the price war in the new energy vehicle industry may be transmitted to the upstream electronic control link; the recovery of industrial automation demand is less than expected.
Inovance Technology’s weight in the GEM New Energy ETF Cathay Pacific is as high as 10.7%, which is a very high proportion.
The ETF fell 1.54% that day, which would theoretically create passive selling pressure on the underlying stock, but Inovance Technology rose 1.25% instead, indicating that active buying completely offset the pressure to reduce ETF holdings, which is a very strong signal.
If subsequent ETF redemptions slow down or turn into subscriptions, stronger positive feedback will be formed.
The key points and trend predictions for next week are as follows:
- Support levels: first support 74.90 yuan (M5), second support 73.42 yuan (M30), strong support 72.14 yuan (Friday low).
- Resistance levels: The first resistance is 76.08 yuan (M10), the second resistance is 76.28 yuan (M20), and the strong resistance is 78.00 yuan.
There are three possible trends next week:
- Probability 45%: heavy volume breakthrough (76-78 yuan).
It may continue to increase its volume on Monday and try to break through M10 and M20 (76-76.5 yuan).
If it can stand above 76.50 yuan and the trading volume remains above 500,000 lots, it will open up upside space with a target of 78-80 yuan.
This is the most positive trend. - Probability 35%: shock and momentum (73-76 yuan).
It fluctuated and consolidated in the range of 73-76 yuan, digesting Friday’s lower shadow profit taking, while waiting for the moving average system to further converge.
If the trading volume shrinks moderately to 400,000-500,000 lots, it is a normal washout and there will still be upward momentum in the future. - Probability 20%: back down to confirm (71-74 yuan).
If the market weakens or the sector corrects, it may fall back to the 30-day line (73.42 yuan) or even Friday’s low of 72.14 yuan, confirming the effectiveness of the support.
But as long as it does not fall below 72 yuan, it is a normal technical retracement. After the retracement, it will be a better buying point.
Operation strategy suggestions (for analysis reference only, not for trading recommendation):
- Holders: If the cost is less than 70 yuan, the profit will be considerable.
The moving take-profit level can be set at the 30-day line (73.42 yuan). If it falls below, the position will be reduced by half; if it falls below 72 yuan, the position will be cleared.
If the cost is above 75 yuan (recent purchase), it is recommended to use 72 yuan as the stop loss level, and exit if it falls below. - Onlookers: Friday’s long lower shadow and high-volume Yang line provide a better signal on the left.
Radical investors can participate in small positions near 75 yuan (no more than 8% of the position), and use 72 yuan as a stop loss.
Steady investors can wait for two signals on the right: ① Stand above 76.50 yuan (above M10/M20) with heavy volume; ② Retrace the 30-day line (73.42 yuan) without breaking and start another upward attack with heavy volume.
For industrial control leaders, the current position has better odds: about 5% downward space and 15% – 20% upward elasticity. - Risk control reminder: 43 times PE is not cheap, but the company’s growth is suitable.
It is recommended to control the position within 10% and set the stop loss to -7%.
The rebound of Inovance Technology from the bottom on Friday is a clear signal that technology has stopped falling and funds have returned.
The volume is long and the lower shadow line is high, the inverse ETF closed strongly, and the volume ratio is 1.32 – multiple indicators point to the end of the short-term adjustment, and it is expected to challenge the key resistance level of 76.50 yuan next week.
For ordinary investors, the current position can be moderately optimistic.
As a dual leader in industrial control and new energy electronic control, Inovance Technology has solid fundamentals. 42 times PE corresponds to a growth rate of 20% +, and has valuation support.
Next week, we will focus on whether 76.50 yuan can break through with heavy volume: if it breaks through, the trend will become stronger; if it does not, it will continue to fluctuate.
Remember: When a high-quality leader pulls back, it is often an opportunity to deploy in batches.
