Cnlight Co Ltd Stock Forecast
Cnlight Co Ltd stock price up 2.27% on Friday
(Updated on Apr 26, 2024)
The Cnlight Co Ltd stock price gained 2.27% on the last trading day (Friday, 26th Apr 2024), rising from ¥1.76 to ¥1.80. During the last trading day the stock fluctuated 4.00% from a day low at ¥1.75 to a day high of ¥1.82. The price has fallen in 5 of the last 10 days and is down by -8.16% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 million more shares were traded than the day before. In total, 28 million shares were bought and sold for approximately ¥50.35 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥1.64 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 17.31% during the next 3 months and, with a 90% probability hold a price between ¥1.92 and ¥3.66 at the end of this 3-month period.
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002076.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 10.43%. 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 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. The Cnlight Co 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 ¥2.10. On a fall, the stock will find some support from the short-term average at ¥1.78. 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.
Support, Risk & Stop-loss for Cnlight Co Ltd stock
Cnlight Co Ltd finds support from accumulated volume at ¥1.79 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 ¥0.0700 between high and low, or 4.00%. For the last week, the stock has had daily average volatility of 4.05%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002076.SZ) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Cnlight Co Ltd to open at ¥1.79, and during the day (based on 14 day Average True Range), to move between ¥1.63 and ¥1.97, which gives a possible trading interval of +/-¥0.169 (+/-9.39%) up or down from last closing price. If Cnlight Co Ltd takes out the full calculated possible swing range there will be an estimated 18.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥1.81 (0.56%) than the support at ¥1.79 (0.56%), 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 Cnlight Co Ltd stock A Buy?
Cnlight Co 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: -1.072 Sell Candidate Unchanged
Predicted Opening Price for Cnlight Co Ltd of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ¥1.79 ( 0.556%) | ¥1.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002076.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.86 | 3.33 % | |
| R2 | 1.83 | 1.85 % | ||
| R1 | 1.82 | 0.93 % | ||
| Current price: | 1.80 | |||
| Support | S1 | 1.76 | -2.04 % | |
| S2 | 1.75 | -2.96 % | ||
| S3 | 1.72 | -4.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.21 | 22.78 % | |
| R2 | 2.20 | 22.22 % | ||
| R1 | 1.81 | 0.556 % | ||
| Current price | 1.80 | |||
| Support | S1 | 1.79 | -0.556% | |
| S2 | 1.78 | -1.11% | ||
| S3 | 1.60 | -11.11% |
002076 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 01, 2017 | Jun 01, 2017 | Jun 01, 2017 | ¥0.0150 | 0.212% |
| 2 | May 06, 2016 | May 06, 2016 | May 06, 2016 | ¥0.0350 | 0.244% |
| 3 | May 13, 2015 | May 13, 2015 | May 13, 2015 | ¥0.0267 | 0.189% |
| 4 | Jun 13, 2014 | Jun 13, 2014 | Jun 13, 2014 | ¥0.0167 | 0.261% |
| 5 | Jun 28, 2013 | Jun 28, 2013 | Jun 28, 2013 | ¥0.0500 | 1.32% |
FAQ
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