Ruitai Materials Technology Co.,Ltd. Stock Forecast
Green day on Friday for Ruitai Materials Technology Co.,Ltd. stock after gaining 1.08%
(Updated on May 17, 2024)
The Ruitai Materials Technology Co.,Ltd. stock price gained 1.08% on the last trading day (Friday, 17th May 2024), rising from ¥9.28 to ¥9.38. During the last trading day the stock fluctuated 3.40% from a day low at ¥9.11 to a day high of ¥9.42. The price has risen in 6 of the last 10 days and is up by 5.63% over the past 2 weeks. Volume fell on the last day by -111 thousand shares and in total, 3 million shares were bought and sold for approximately ¥32.03 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 7.27% during the next 3 months and, with a 90% probability hold a price between ¥8.64 and ¥10.91 at the end of this 3-month period.
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002066.SZ Signals & Forecast
Mostly positive signals in the chart today. 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. 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 ¥9.22 and ¥8.90. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 19.95%. Further rise is indicated until a new top 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 Ruitai Materials Technology Co.,Ltd. stock
Ruitai Materials Technology Co.,Ltd. finds support from accumulated volume at ¥9.33 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 ¥0.310 between high and low, or 3.40%. For the last week, the stock has had daily average volatility of 3.14%.
Our recommended stop-loss: ¥8.91 (-4.98%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (002066.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Ruitai Materials Technology Co.,Ltd. to open at ¥9.30, and during the day (based on 14 day Average True Range), to move between ¥8.98 and ¥9.78, which gives a possible trading interval of +/-¥0.399 (+/-4.25%) 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 8.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥9.33 (0.53%) than the resistance at ¥9.88 (5.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ruitai Materials Technology Co.,Ltd. stock A Buy?
Ruitai Materials Technology Co.,Ltd. holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 6.213 Strong Buy Candidate Unchanged
Predicted Opening Price for Ruitai Materials Technology Co.,Ltd. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥9.30 ( 0.82%) | ¥9.38 |
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 | 9.61 | 2.49 % | |
| R2 | 9.49 | 1.23 % | ||
| R1 | 9.42 | 0.445 % | ||
| Current price: | 9.38 | |||
| Support | S1 | 9.18 | -2.08 % | |
| S2 | 9.11 | -2.86 % | ||
| S3 | 8.99 | -4.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 9.88 | 5.33 % | ||
| Current price | 9.38 | |||
| Support | S1 | 9.33 | -0.533% | |
| S2 | 9.25 | -1.39% | ||
| S3 | 8.44 | -10.02% |
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% |
FAQ
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