Tech-bank Food Co Ltd Stock Forecast
Green day on Friday for Tech-bank Food Co Ltd
(Updated on May 24, 2024)
The Tech-bank Food Co Ltd stock price gained 2.19% on the last trading day (Friday, 24th May 2024), rising from ¥2.28 to ¥2.33. During the last trading day the stock fluctuated 3.07% from a day low at ¥2.28 to a day high of ¥2.35. The price has risen in 7 of the last 10 days and is up by 9.91% over the past 2 weeks. Volume fell on the last day by -13 million shares and in total, 43 million shares were bought and sold for approximately ¥100.96 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 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 -24.80% during the next 3 months and, with a 90% probability hold a price between ¥1.47 and ¥2.22 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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002124.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, May 10, 2024, and so far it has risen 9.91%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Tech-bank Food 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 ¥2.34 and ¥2.66. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Tech-bank Food Co Ltd stock
Tech-bank Food Co Ltd finds support from accumulated volume at ¥2.27 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 3.07%. For the last week, the stock has had daily average volatility of 4.45%.
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 Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Tech-bank Food Co Ltd to open at ¥2.32, and during the day (based on 14 day Average True Range), to move between ¥2.14 and ¥2.52, which gives a possible trading interval of +/-¥0.192 (+/-8.24%) 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 16.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥2.35 (0.86%) than the support at ¥2.27 (2.58%), 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 Tech-bank Food Co Ltd stock A Buy?
Tech-bank Food Co Ltd holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.819 Sell Candidate Unchanged
Predicted Opening Price for Tech-bank Food Co Ltd of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| ¥2.32 ( 0.429%) | ¥2.33 |
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 | 2.39 | 2.58 % | |
| R2 | 2.36 | 1.43 % | ||
| R1 | 2.35 | 0.718 % | ||
| Current price: | 2.33 | |||
| Support | S1 | 2.29 | -1.58 % | |
| S2 | 2.28 | -2.29 % | ||
| S3 | 2.25 | -3.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.87 | 23.18 % | |
| R2 | 2.68 | 15.02 % | ||
| R1 | 2.35 | 0.86 % | ||
| Current price | 2.33 | |||
| Support | S1 | 2.27 | -2.58% | |
| S2 | 2.23 | -4.29% | ||
| S3 | 2.14 | -8.15% |
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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