Tech-bank Food Co Ltd Stock Forecast
Tech-bank Food Co Ltd stock downgraded to Sell Candidate
(Updated on Apr 30, 2024)
No changes to the price of Tech-bank Food Co Ltd stock on the last trading day (Tuesday, 30th Apr 2024). During the last trading day the stock fluctuated 0% from a day low at ¥2.71 to a day high of ¥2.71. The price has been going up and down for this period, and there has been a 4.63% gain for the last 2 weeks.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at ¥2.54 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Tech-bank Food Co Ltd stock with a 90% probability to be traded between ¥2.51 and ¥3.46 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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002124.SZ Signals & Forecast
There are mixed signals in the stock today. The Tech-bank Food 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 ¥3.00. On a fall, the stock will find some support from the short-term average at ¥2.67. 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 Monday, April 29, 2024, and so far it has fallen 0%. 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). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Tech-bank Food Co Ltd stock
Tech-bank Food Co Ltd finds support from accumulated volume at ¥2.68 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved ¥0 between high and low, or 0%. For the last week the stock has had daily average volatility of 2.64%
Tech-bank Food Co Ltd is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002124.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Tech-bank Food Co Ltd to open at ¥2.71, and during the day (based on 14 day Average True Range), to move between ¥2.47 and ¥2.95, which gives a possible trading interval of +/-¥0.236 (+/-8.70%) up or down from last closing price. If Tech-bank Food Co Ltd takes out the full calculated possible swing range there will be an estimated 17.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥2.68 (1.11%) than the resistance at ¥2.87 (5.90%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Tech-bank Food Co Ltd stock A Buy?
Tech-bank Food 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.489 Sell Candidate Downgraded
Predicted Opening Price for Tech-bank Food Co Ltd of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
¥2.71 ( 0.00000000%) | ¥2.71 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002124.SZ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.71 | 0.00000000 % | |
R2 | 2.71 | 0.00000000 % | ||
R1 | 2.71 | 0.00000000 % | ||
Current price: | 2.71 | |||
Support | S1 | 2.71 | 0.00000000 % | |
S2 | 2.71 | 0.00000000 % | ||
S3 | 2.71 | 0.00000000 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.04 | 12.18 % | |
R2 | 2.97 | 9.59 % | ||
R1 | 2.87 | 5.90 % | ||
Current price | 2.71 | |||
Support | S1 | 2.68 | -1.11% | |
S2 | 2.62 | -3.32% | ||
S3 | 2.59 | -4.43% |
002124 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 20, 2021 | May 20, 2021 | May 20, 2021 | ¥0.429 | 5.35% |
2 | Jun 01, 2018 | Jun 01, 2018 | Jun 01, 2018 | ¥0.0476 | 1.14% |
3 | Jun 02, 2017 | Jun 02, 2017 | Jun 02, 2017 | ¥0.0595 | 1.69% |
4 | May 17, 2016 | May 17, 2016 | May 17, 2016 | ¥0.0433 | 0.85% |
5 | Jul 24, 2015 | Jul 24, 2015 | Jul 24, 2015 | ¥0.0216 | 0.462% |
FAQ
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