Eastcompeace Technology Co Ltd Stock Forecast
Green day on Friday for Eastcompeace Technology Co Ltd stock after gaining 1.76%
(Updated on May 17, 2024)
The Eastcompeace Technology Co Ltd stock price gained 1.76% on the last trading day (Friday, 17th May 2024), rising from ¥9.09 to ¥9.25. During the last trading day the stock fluctuated 2.54% from a day low at ¥9.07 to a day high of ¥9.30. The price has risen in 6 of the last 10 days but is still down by -1.6% for this period. 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 ¥56.83 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Eastcompeace Technology Co Ltd stock with a 90% probability to be traded between ¥7.80 and ¥9.56 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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002017.SZ Signals & Forecast
The Eastcompeace Technology Co Ltd 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 ¥9.20 and ¥9.07. 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 Tuesday, May 07, 2024, and so far it has fallen -1.80%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Eastcompeace Technology Co Ltd stock
Eastcompeace Technology Co Ltd finds support from accumulated volume at ¥9.16 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 ¥0.230 between high and low, or 2.54%. For the last week, the stock has had daily average volatility of 2.85%.
Our recommended stop-loss: ¥8.85 (-4.27%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (002017.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Eastcompeace Technology Co Ltd to open at ¥9.21, and during the day (based on 14 day Average True Range), to move between ¥8.90 and ¥9.60, which gives a possible trading interval of +/-¥0.355 (+/-3.84%) up or down from last closing price. If Eastcompeace Technology Co Ltd takes out the full calculated possible swing range there will be an estimated 7.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥9.16 (0.97%) than the resistance at ¥9.38 (1.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Eastcompeace Technology Co Ltd stock A Buy?
Eastcompeace Technology Co Ltd 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: -0.270 Hold/Accumulate Unchanged
Predicted Opening Price for Eastcompeace Technology Co Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥9.21 ( 0.468%) | ¥9.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002017.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.44 | 2.02 % | |
| R2 | 9.35 | 1.07 % | ||
| R1 | 9.29 | 0.481 % | ||
| Current price: | 9.25 | |||
| Support | S1 | 9.12 | -1.42 % | |
| S2 | 9.06 | -2.01 % | ||
| S3 | 8.98 | -2.95 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.58 | 3.57 % | |
| R2 | 9.46 | 2.27 % | ||
| R1 | 9.38 | 1.41 % | ||
| Current price | 9.25 | |||
| Support | S1 | 9.16 | -0.97% | |
| S2 | 9.14 | -1.19% | ||
| S3 | 8.76 | -5.30% |
002017 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 21, 2023 | Jun 21, 2023 | Jun 21, 2023 | ¥0.100 | 0.785% |
| 2 | Jun 22, 2022 | Jun 22, 2022 | Jun 22, 2022 | ¥0.0500 | 0.555% |
| 3 | Jun 04, 2021 | Jun 04, 2021 | Jun 04, 2021 | ¥0.0300 | 0.324% |
| 4 | Jun 05, 2020 | Jun 05, 2020 | Jun 05, 2020 | ¥0.0300 | 0.330% |
| 5 | May 31, 2019 | May 31, 2019 | May 31, 2019 | ¥0.0300 | 0.287% |
FAQ
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