Elec-Tech International Co., Ltd. Stock Forecast
High volatility in Elec-Tech International Co., Ltd. stock price on Friday which ended trading at ¥0.82
(Updated on Jun 21, 2024)
The Elec-Tech International Co., Ltd. stock price fell by -4.65% on the last day (Friday, 21st Jun 2024) from ¥0.86 to ¥0.82. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 18.29% from a day low at ¥0.82 to a day high of ¥0.97. The price has fallen in 6 of the last 10 days and is down by -18.81% for this period. Volume has increased on the last day by 13 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 45 million shares were bought and sold for approximately ¥36.78 million.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥0.795 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -19.59% during the next 3 months and, with a 90% probability hold a price between ¥0.639 and ¥0.792 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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002005.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Elec-Tech International 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 ¥0.93 and ¥1.01. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -24.07%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Elec-Tech International Co., Ltd. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 ¥0.150 between high and low, or 18.29%. For the last week, the stock has had daily average volatility of 8.31%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002005.SZ) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Elec-Tech International Co., Ltd. to open at ¥0.87, and during the day (based on 14 day Average True Range), to move between ¥0.762 and ¥0.88, which gives a possible trading interval of +/-¥0.0576 (+/-7.03%) up or down from last closing price. If Elec-Tech International Co., Ltd. takes out the full calculated possible swing range there will be an estimated 14.05% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ¥0.97, some ¥0.150 (18.29%) from the current price of ¥0.82, our system finds the risk reward not very attractive.
Is Elec-Tech International Co., Ltd. stock A Buy?
Elec-Tech International Co., Ltd. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -8.406 Strong Sell Candidate Downgraded
Predicted Opening Price for Elec-Tech International Co., Ltd. of Monday, June 24, 2024
Fair opening price June 24, 2024 | Current price |
---|---|
¥0.87 ( 6.10%) | ¥0.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002005.SZ
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 1.02 | 24.39% |
R2 | 0.96 | 17.40% |
R1 | 0.93 | 13.09% |
Price | 0.82 | |
S1 | 0.81 | -0.89% |
S2 | 0.777 | -5.21% |
S3 | 0.720 | -12.20% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 1.02 | 24.39% |
R2 | 1.01 | 23.17% |
R1 | 0.97 | 18.29% |
Price | 0.82 | |
S1 | 0 | - |
S2 | 0 | - |
S3 | 0 | - |
002005 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jul 16, 2015 | Jul 16, 2015 | Jul 16, 2015 | ¥0.0300 | 0.375% |
2 | May 24, 2012 | May 24, 2012 | May 24, 2012 | ¥0.100 | 1.15% |
3 | May 25, 2005 | May 25, 2005 | May 25, 2005 | ¥0.115 | 14.73% |
FAQ
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