Guangdong Avcit Technology Holding Co., Stock Forecast
High volatility in Guangdong Avcit Technology Holding Co., stock price on Thursday which ended trading at ¥30.41
(Updated on Jun 27, 2024)
The Guangdong Avcit Technology Holding Co., stock price gained 6.00% on the last trading day (Thursday, 27th Jun 2024), rising from ¥28.69 to ¥30.41. During the last trading day the stock fluctuated 10.39% from a day low at ¥27.90 to a day high of ¥30.80. The price has risen in 7 of the last 10 days and is up by 16.74% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 6 million shares were bought and sold for approximately ¥186.04 million.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ¥30.84 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 5.25% during the next 3 months and, with a 90% probability hold a price between ¥26.86 and ¥32.46 at the end of this 3-month period.
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001229.SZ Signals & Forecast
The Guangdong Avcit Technology Holding Co., stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ¥28.81 and ¥27.28. A breakdown below any of these levels will issue sell signals. 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. 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 Monday, June 24, 2024, and so far it has fallen -0.718%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Guangdong Avcit Technology Holding Co., stock
Guangdong Avcit Technology Holding Co., finds support from accumulated volume at ¥29.48 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 ¥2.90 between high and low, or 10.39%. For the last week, the stock has had daily average volatility of 11.90%.
Our recommended stop-loss: ¥29.23 (-3.87%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (001229.SZ) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Guangdong Avcit Technology Holding Co., Ltd. to open at ¥29.70, and during the day (based on 14 day Average True Range), to move between ¥28.20 and ¥32.62, which gives a possible trading interval of +/-¥2.21 (+/-7.26%) up or down from last closing price. If Guangdong Avcit Technology Holding Co., Ltd. takes out the full calculated possible swing range there will be an estimated 14.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥30.63 (0.72%) than the support at ¥29.48 (3.06%), 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 Guangdong Avcit Technology Holding 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 Guangdong Avcit Technology Holding Co., stock to perform well in the short-term.
Current score: 1.141 Buy Candidate Unchanged
Predicted Opening Price for Guangdong Avcit Technology Holding Co., Ltd. of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| ¥29.70 ( 2.32%) | ¥30.41 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 001229.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 32.60 | 7.21% |
| R2 | 31.50 | 3.57% |
| R1 | 30.81 | 1.32% |
| Price | 30.41 | |
| S1 | 28.60 | -5.97% |
| S2 | 27.91 | -8.22% |
| S3 | 26.80 | -11.86% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 30.63 | 0.723% |
| Price | 30.41 | |
| S1 | 29.48 | -3.06% |
| S2 | 28.57 | -6.05% |
| S3 | 27.61 | -9.21% |
001229 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2024 | Jun 28, 2024 | Jun 28, 2024 | ¥0.600 | 1.97% |
| 2 | Jun 06, 2023 | Jun 06, 2023 | Jun 06, 2023 | ¥0.400 | 1.24% |
FAQ
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