Guoguang Electric Ltd Stock Forecast
Guoguang Electric Ltd stock price up 0.0762% on Tuesday
(Updated on Apr 30, 2024)
The Guoguang Electric Ltd stock price gained 0.0762% on the last trading day (Tuesday, 30th Apr 2024), rising from ¥13.12 to ¥13.13. It has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 4.08% from a day low at ¥12.75 to a day high of ¥13.27. The price has risen in 9 of the last 10 days and is up by 11.94% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 11 million shares were bought and sold for approximately ¥149.37 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 lies in the middle of a very wide and weak 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 8.95% during the next 3 months and, with a 90% probability hold a price between ¥12.27 and ¥16.58 at the end of this 3-month period.
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002045.SZ Signals & Forecast
There are mixed signals in the stock today. The Guoguang Electric Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ¥13.19. On a fall, the stock will find some support from the short-term average at ¥12.76. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, March 06, 2024, and so far it has fallen -8.95%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for Guoguang Electric Ltd stock
Guoguang Electric Ltd finds support from accumulated volume at ¥12.90 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 ¥0.520 between high and low, or 4.08%. For the last week, the stock has had daily average volatility of 3.53%.
Since the Guoguang Electric Ltd has been rising for 7 days in a row, the risk over the next couple of days has increased.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002045.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Guoguang Electric Ltd to open at ¥13.05, and during the day (based on 14 day Average True Range), to move between ¥12.53 and ¥13.73, which gives a possible trading interval of +/-¥0.599 (+/-4.56%) up or down from last closing price. If Guoguang Electric Ltd takes out the full calculated possible swing range there will be an estimated 9.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥12.90 (1.75%) than the resistance at ¥13.68 (4.19%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Guoguang Electric Ltd will release earnings BMO on Tuesday, May 07, 2024. We will update the financials statements for Guoguang Electric Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.59% in the first trading day after earnings release.
Is Guoguang Electric Ltd stock A Buy?
Guoguang Electric Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.236 Sell Candidate Unchanged
Predicted Opening Price for Guoguang Electric Ltd of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥13.05 ( 0.609%) | ¥13.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002045.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.57 | 3.35 % | |
| R2 | 13.37 | 1.84 % | ||
| R1 | 13.25 | 0.90 % | ||
| Current price: | 13.13 | |||
| Support | S1 | 12.85 | -2.12 % | |
| S2 | 12.73 | -3.06 % | ||
| S3 | 12.53 | -4.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.42 | 9.82 % | |
| R2 | 13.75 | 4.72 % | ||
| R1 | 13.68 | 4.19 % | ||
| Current price | 13.13 | |||
| Support | S1 | 12.90 | -1.75% | |
| S2 | 12.32 | -6.17% | ||
| S3 | 11.69 | -10.97% |
002045 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 19, 2020 | Jun 19, 2020 | Jun 19, 2020 | ¥0.0800 | 0.83% |
| 2 | Jun 24, 2019 | Jun 24, 2019 | Jun 24, 2019 | ¥0.0800 | 1.48% |
| 3 | May 14, 2018 | May 14, 2018 | May 14, 2018 | ¥0.0800 | 0.784% |
| 4 | May 18, 2017 | May 18, 2017 | May 18, 2017 | ¥0.0800 | 0.428% |
| 5 | Jun 03, 2016 | Jun 03, 2016 | Jun 03, 2016 | ¥0.0800 | 0.608% |
FAQ
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