Miracle Automation Engineering CoLtd Stock Forecast
Miracle Automation Engineering CoLtd stock price down 0.89% on Monday
(Updated on May 06, 2024)
The Miracle Automation Engineering CoLtd stock price fell by -0.89% on the last day (Monday, 6th May 2024) from ¥14.67 to ¥14.54. During the last trading day the stock fluctuated 3.81% from a day low at ¥14.45 to a day high of ¥15.00. The price has been going up and down for this period, and there has been a 13.86% gain for the last 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 -20 million shares and in total, 22 million shares were bought and sold for approximately ¥315.33 million.
The stock lies in the middle of a very 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 19.34% during the next 3 months and, with a 90% probability hold a price between ¥13.92 and ¥22.65 at the end of this 3-month period.
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002009.SZ Signals & Forecast
The Miracle Automation Engineering CoLtd 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 ¥13.58 and ¥14.34. 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). 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, March 18, 2024, and so far it has fallen -15.81%. Further fall is indicated until a new bottom pivot has been found. 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 Miracle Automation Engineering CoLtd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥13.57 and ¥13.42. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Miracle Automation Engineering CoLtd finds support just below today's level at ¥13.57. If this is broken, then the next support from accumulated volume will be at ¥13.42 and ¥13.19.
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 ¥0.550 between high and low, or 3.81%. For the last week, the stock has had daily average volatility of 9.31%.
Our recommended stop-loss: ¥13.68 (-5.92%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 30 days ago.)
Trading Expectations (002009.SZ) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Miracle Automation Engineering CoLtd to open at ¥14.66, and during the day (based on 14 day Average True Range), to move between ¥13.34 and ¥15.74, which gives a possible trading interval of +/-¥1.20 (+/-8.25%) up or down from last closing price. If Miracle Automation Engineering CoLtd takes out the full calculated possible swing range there will be an estimated 16.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥15.30 (5.23%) than the support at ¥13.57 (6.67%), 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 Miracle Automation Engineering CoLtd stock A Buy?
Miracle Automation Engineering CoLtd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.784 Hold/Accumulate Unchanged
Predicted Opening Price for Miracle Automation Engineering CoLtd of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| ¥14.66 ( 0.85%) | ¥14.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002009.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.21 | 4.63 % | |
| R2 | 15.00 | 3.19 % | ||
| R1 | 14.87 | 2.29 % | ||
| Current price: | 14.54 | |||
| Support | S1 | 14.45 | -0.597 % | |
| S2 | 14.32 | -1.49 % | ||
| S3 | 14.11 | -2.93 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.71 | 14.92 % | |
| R2 | 15.42 | 6.05 % | ||
| R1 | 15.30 | 5.23 % | ||
| Current price | 14.54 | |||
| Support | S1 | 13.57 | -6.67% | |
| S2 | 13.42 | -7.70% | ||
| S3 | 13.19 | -9.28% |
002009 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 14, 2023 | Jul 14, 2023 | Jul 14, 2023 | ¥0.0100 | 0.0743% |
| 2 | Jun 15, 2022 | Jun 15, 2022 | Jun 15, 2022 | ¥0.0300 | 0.168% |
| 3 | Jul 05, 2021 | Jul 05, 2021 | Jul 05, 2021 | ¥0.0490 | 0.413% |
| 4 | Jul 15, 2020 | Jul 15, 2020 | Jul 15, 2020 | ¥0.0320 | 0.393% |
| 5 | May 30, 2019 | May 30, 2019 | May 30, 2019 | ¥0.0570 | 0.663% |
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