Dongfang Electronics Co Ltd Stock Forecast
Red day on Thursday for Dongfang Electronics Co Ltd stock after losing 0.800%
(Updated on May 16, 2024)
The Dongfang Electronics Co Ltd stock price fell by -0.800% on the last day (Thursday, 16th May 2024) from ¥11.25 to ¥11.16. During the last trading day the stock fluctuated 4.51% from a day low at ¥10.86 to a day high of ¥11.35. The price has risen in 6 of the last 10 days and is up by 7.51% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -8 million shares and in total, 18 million shares were bought and sold for approximately ¥202.18 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 35.95% during the next 3 months and, with a 90% probability hold a price between ¥14.01 and ¥16.04 at the end of this 3-month period.
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000682.SZ Signals & Forecast
The Dongfang Electronics Co Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ¥11.24. On a fall, the stock will find some support from the long-term average at approximately ¥10.04. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -4.53%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Dongfang Electronics Co Ltd stock
Dongfang Electronics Co Ltd finds support from accumulated volume at ¥10.99 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ¥0.490 between high and low, or 4.51%. For the last week, the stock has had daily average volatility of 8.25%.
Our recommended stop-loss: ¥10.56 (-5.35%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (000682.SZ) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Dongfang Electronics Co Ltd to open at ¥11.12, and during the day (based on 14 day Average True Range), to move between ¥10.50 and ¥11.82, which gives a possible trading interval of +/-¥0.657 (+/-5.88%) up or down from last closing price. If Dongfang Electronics Co Ltd takes out the full calculated possible swing range there will be an estimated 11.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥11.25 (0.81%) than the support at ¥10.99 (1.52%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Dongfang Electronics Co Ltd stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Dongfang Electronics Co Ltd stock to perform well in the short-term.
Current score: 1.355 Buy Candidate Unchanged
Predicted Opening Price for Dongfang Electronics Co Ltd of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| ¥11.12 ( 0.329%) | ¥11.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000682.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.61 | 4.06 % | |
| R2 | 11.43 | 2.38 % | ||
| R1 | 11.31 | 1.35 % | ||
| Current price: | 11.16 | |||
| Support | S1 | 10.94 | -2.01 % | |
| S2 | 10.82 | -3.04 % | ||
| S3 | 10.63 | -4.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.69 | 4.75 % | |
| R2 | 11.45 | 2.60 % | ||
| R1 | 11.25 | 0.81 % | ||
| Current price | 11.16 | |||
| Support | S1 | 10.99 | -1.52% | |
| S2 | 10.71 | -4.03% | ||
| S3 | 9.74 | -12.72% |
000682 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 11, 2023 | Jul 11, 2023 | Jul 11, 2023 | ¥0.0750 | 0.80% |
| 2 | Jul 11, 2022 | Jul 11, 2022 | Jul 11, 2022 | ¥0.0600 | 0.81% |
| 3 | Jul 03, 2020 | Jul 03, 2020 | Jul 03, 2020 | ¥0.0380 | 0.747% |
| 4 | Jun 13, 2014 | Jun 13, 2014 | Jun 13, 2014 | ¥0.0200 | 0.635% |
| 5 | Jun 27, 2001 | Jun 27, 2001 | Jun 27, 2001 | ¥0.200 | 1.16% |
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