Ruitai Materials Technology Co.,Ltd. Stock Forecast
Ruitai Materials Technology Co.,Ltd. stock price up 0.339% on Tuesday
(Updated on Apr 30, 2024)
The Ruitai Materials Technology Co.,Ltd. stock price gained 0.339% on the last trading day (Tuesday, 30th Apr 2024), rising from ¥8.85 to ¥8.88. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.56% from a day low at ¥8.56 to a day high of ¥8.95. The price has been going up and down for this period, and there has been a 13.55% gain for the last 2 weeks. Volume fell on the last day by -484 thousand shares and in total, 4 million shares were bought and sold for approximately ¥39.66 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 8.07% during the next 3 months and, with a 90% probability hold a price between ¥8.03 and ¥10.89 at the end of this 3-month period.
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002066.SZ Signals & Forecast
The Ruitai Materials 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 ¥8.62 and ¥8.83. A breakdown below any of these levels will issue sell signals. 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 Tuesday, April 09, 2024, and so far it has fallen -10.12%. 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).
Support, Risk & Stop-loss for Ruitai Materials Technology Co.,Ltd. stock
Ruitai Materials Technology Co.,Ltd. finds support from accumulated volume at ¥8.44 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 ¥0.390 between high and low, or 4.56%. For the last week, the stock has had daily average volatility of 3.91%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002066.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Ruitai Materials Technology Co.,Ltd. to open at ¥8.80, and during the day (based on 14 day Average True Range), to move between ¥8.34 and ¥9.42, which gives a possible trading interval of +/-¥0.536 (+/-6.04%) up or down from last closing price. If Ruitai Materials Technology Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 12.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥8.98 (1.13%) than the support at ¥8.44 (4.95%), 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 Ruitai Materials Technology Co.,Ltd. stock A Buy?
The Ruitai Materials Technology Co.,Ltd. stock holds several negative signals and despite the positive trend, we believe Ruitai Materials Technology Co.,Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.012 Sell Candidate Unchanged
Predicted Opening Price for Ruitai Materials Technology Co.,Ltd. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥8.80 ( 0.94%) | ¥8.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002066.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.19 | 3.45 % | |
| R2 | 9.04 | 1.78 % | ||
| R1 | 8.95 | 0.739 % | ||
| Current price: | 8.88 | |||
| Support | S1 | 8.65 | -2.62 % | |
| S2 | 8.56 | -3.65 % | ||
| S3 | 8.41 | -5.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.33 | 5.07 % | |
| R2 | 9.16 | 3.15 % | ||
| R1 | 8.98 | 1.13 % | ||
| Current price | 8.88 | |||
| Support | S1 | 8.44 | -4.95% | |
| S2 | 7.88 | -11.26% | ||
| S3 | 6.74 | -24.10% |
002066 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 07, 2023 | Jun 07, 2023 | Jun 07, 2023 | ¥0.0800 | 0.705% |
| 2 | Jun 07, 2013 | Jun 07, 2013 | Jun 07, 2013 | ¥0.0500 | 1.07% |
| 3 | May 24, 2012 | May 24, 2012 | May 24, 2012 | ¥0.0750 | 1.12% |
| 4 | Jun 15, 2011 | Jun 15, 2011 | Jun 15, 2011 | ¥0.0750 | 1.02% |
| 5 | Jun 25, 2010 | Jun 25, 2010 | Jun 25, 2010 | ¥0.0600 | 0.89% |
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