Tianma Bearing Group Co.,Ltd Stock Forecast
Big movements in Tianma Bearing Group Co.,Ltd stock price on Wednesday moving 10.24% between high and low
(Updated on Jun 26, 2024)
The Tianma Bearing Group Co.,Ltd stock price gained 5.26% on the last trading day (Wednesday, 26th Jun 2024), rising from ¥2.09 to ¥2.20. During the last trading day the stock fluctuated 10.24% from a day low at ¥2.05 to a day high of ¥2.26. The price has fallen in 5 of the last 10 days and is down by -5.58% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 11 million more shares were traded than the day before. In total, 30 million shares were bought and sold for approximately ¥66.20 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -39.92% during the next 3 months and, with a 90% probability hold a price between ¥1.22 and ¥1.38 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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002122.SZ Signals & Forecast
There are mixed signals in the stock today. The Tianma Bearing Group Co.,Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ¥2.22 and ¥2.60. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 5.77%. 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.
Support, Risk & Stop-loss for Tianma Bearing Group Co.,Ltd stock
Tianma Bearing Group Co.,Ltd finds support from accumulated volume at ¥2.18 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 ¥0.210 between high and low, or 10.24%. For the last week, the stock has had daily average volatility of 8.73%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002122.SZ) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Tianma Bearing Group Co.,Ltd to open at ¥2.17, and during the day (based on 14 day Average True Range), to move between ¥2.02 and ¥2.38, which gives a possible trading interval of +/-¥0.184 (+/-8.37%) up or down from last closing price. If Tianma Bearing Group Co.,Ltd takes out the full calculated possible swing range there will be an estimated 16.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥2.18 (0.91%) than the resistance at ¥2.26 (2.73%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Tianma Bearing Group Co.,Ltd stock A Buy?
Tianma Bearing Group 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -2.146 Sell Candidate Upgraded
Predicted Opening Price for Tianma Bearing Group Co.,Ltd of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ¥2.17 ( 1.36%) | ¥2.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002122.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.38 | 8.18% |
| R2 | 2.30 | 4.54% |
| R1 | 2.25 | 2.28% |
| Price | 2.20 | |
| S1 | 2.09 | -5.01% |
| S2 | 2.04 | -7.26% |
| S3 | 1.96 | -10.91% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.42 | 10.00% |
| R2 | 2.33 | 5.91% |
| R1 | 2.26 | 2.73% |
| Price | 2.20 | |
| S1 | 2.18 | -0.91% |
| S2 | 2.09 | -5.00% |
| S3 | 2.08 | -5.45% |
002122 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 18, 2016 | May 18, 2016 | May 18, 2016 | ¥0.0500 | 0.83% |
| 2 | Jun 19, 2015 | Jun 19, 2015 | Jun 19, 2015 | ¥0.0200 | 0.161% |
| 3 | Jul 14, 2014 | Jul 14, 2014 | Jul 14, 2014 | ¥0.0100 | 0.189% |
| 4 | Jun 06, 2013 | Jun 06, 2013 | Jun 06, 2013 | ¥0.100 | 2.02% |
| 5 | Jun 08, 2012 | Jun 08, 2012 | Jun 08, 2012 | ¥0.100 | 1.49% |
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