LianChuang Electronic Technology Co Ltd Stock Forecast
LianChuang Electronic Technology Co Ltd stock upgraded to Buy Candidate.
(Updated on May 09, 2024)
The LianChuang Electronic Technology Co Ltd stock price gained 2.26% on the last trading day (Thursday, 9th May 2024), rising from ¥7.53 to ¥7.70. During the last trading day the stock fluctuated 4.67% from a day low at ¥7.50 to a day high of ¥7.85. The price has risen in 6 of the last 10 days and is up by 15.44% over the past 2 weeks. Volume fell on the last day by -739 thousand shares and in total, 23 million shares were bought and sold for approximately ¥173.61 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect LianChuang Electronic Technology Co Ltd stock with a 90% probability to be traded between ¥6.42 and ¥8.17 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
002036.SZ Signals & Forecast
The LianChuang Electronic Technology Co Ltd 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 ¥7.58 and ¥7.64. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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, May 06, 2024, and so far it has fallen -1.79%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for LianChuang Electronic Technology Co Ltd stock
LianChuang Electronic Technology Co Ltd finds support from accumulated volume at ¥7.69 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 ¥0.350 between high and low, or 4.67%. For the last week, the stock has had daily average volatility of 6.26%.
Our recommended stop-loss: ¥7.41 (-3.71%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (002036.SZ) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect LianChuang Electronic Technology Co Ltd to open at ¥7.68, and during the day (based on 14 day Average True Range), to move between ¥7.18 and ¥8.22, which gives a possible trading interval of +/-¥0.524 (+/-6.80%) up or down from last closing price. If LianChuang Electronic Technology Co Ltd takes out the full calculated possible swing range there will be an estimated 13.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥7.69 (0.13%) than the resistance at ¥7.88 (2.34%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is LianChuang Electronic Technology Co Ltd stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for LianChuang Electronic Technology Co Ltd stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.326 Buy Candidate Upgraded
Predicted Opening Price for LianChuang Electronic Technology Co Ltd of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| ¥7.68 ( 0.216%) | ¥7.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002036.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.03 | 4.33 % | |
| R2 | 7.90 | 2.59 % | ||
| R1 | 7.82 | 1.52 % | ||
| Current price: | 7.70 | |||
| Support | S1 | 7.55 | -1.95 % | |
| S2 | 7.47 | -3.03 % | ||
| S3 | 7.33 | -4.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.40 | 9.09 % | |
| R2 | 8.27 | 7.40 % | ||
| R1 | 7.88 | 2.34 % | ||
| Current price | 7.70 | |||
| Support | S1 | 7.69 | -0.130% | |
| S2 | 7.15 | -7.14% | ||
| S3 | 7.07 | -8.18% |
002036 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 11, 2023 | Jul 11, 2023 | Jul 11, 2023 | ¥0.0091 | 0.0750% |
| 2 | Jul 11, 2022 | Jul 11, 2022 | Jul 11, 2022 | ¥0.0110 | 0.0827% |
| 3 | Jun 07, 2021 | Jun 07, 2021 | Jun 07, 2021 | ¥0.0158 | 0.126% |
| 4 | May 29, 2020 | May 29, 2020 | May 29, 2020 | ¥0.0077 | 0.0712% |
| 5 | Jun 28, 2019 | Jun 28, 2019 | Jun 28, 2019 | ¥0.0266 | 0.378% |
FAQ
Click here for our free guide on how to buy LianChuang Electronic Technology Co Ltd Stock.
