TongFu Microelectronics Co Ltd Stock Forecast
Weaker technical forecast for TongFu Microelectronics Co Ltd as stock downgraded to Sell Candidate.
(Updated on Apr 30, 2024)
The TongFu Microelectronics Co Ltd stock price fell by -1.13% on the last day (Tuesday, 30th Apr 2024) from ¥21.22 to ¥20.98. During the last trading day the stock fluctuated 5.94% from a day low at ¥20.05 to a day high of ¥21.24. The price has been going up and down for this period, and there has been a 6.77% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -52 million shares and in total, 55 million shares were bought and sold for approximately ¥1.16 billion.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect TongFu Microelectronics Co Ltd stock with a 90% probability to be traded between ¥18.57 and ¥25.55 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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002156.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 10.89%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The TongFu Microelectronics 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 ¥22.36. On a fall, the stock will find some support from the short-term average at ¥20.15. 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. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for TongFu Microelectronics Co Ltd stock
TongFu Microelectronics Co Ltd finds support from accumulated volume at ¥20.50 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 ¥1.19 between high and low, or 5.94%. For the last week, the stock has had daily average volatility of 6.25%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002156.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect TongFu Microelectronics Co Ltd to open at ¥20.76, and during the day (based on 14 day Average True Range), to move between ¥19.68 and ¥22.28, which gives a possible trading interval of +/-¥1.30 (+/-6.19%) up or down from last closing price. If TongFu Microelectronics Co Ltd takes out the full calculated possible swing range there will be an estimated 12.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥20.50 (2.29%) than the resistance at ¥24.96 (18.97%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
TongFu Microelectronics Co Ltd will release earnings BMO on Monday, May 13, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0500. We will update the financials statements for TongFu Microelectronics Co Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.62% in the first trading day after earnings release.
Is TongFu Microelectronics Co Ltd stock A Buy?
TongFu Microelectronics 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: -1.444 Sell Candidate Downgraded
Predicted Opening Price for TongFu Microelectronics Co Ltd of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
¥20.76 ( 1.06%) | ¥20.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002156.SZ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 21.95 | 4.61 % | |
R2 | 21.49 | 2.44 % | ||
R1 | 21.21 | 1.10 % | ||
Current price: | 20.98 | |||
Support | S1 | 20.30 | -3.23 % | |
S2 | 20.02 | -4.57 % | ||
S3 | 19.57 | -6.74 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 26.07 | 24.26 % | |
R2 | 25.89 | 23.40 % | ||
R1 | 24.96 | 18.97 % | ||
Current price | 20.98 | |||
Support | S1 | 20.50 | -2.29% | |
S2 | 19.65 | -6.34% | ||
S3 | 19.13 | -8.82% |
002156 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 30, 2023 | May 30, 2023 | May 30, 2023 | ¥0.0970 | 0.386% |
2 | Jun 23, 2021 | Jun 23, 2021 | Jun 23, 2021 | ¥0.0260 | 0.115% |
3 | May 16, 2019 | May 16, 2019 | May 16, 2019 | ¥0.0380 | 0.449% |
4 | May 31, 2016 | May 31, 2016 | May 31, 2016 | ¥0.0231 | 0.199% |
5 | Oct 29, 2015 | Oct 29, 2015 | Oct 29, 2015 | ¥0.0231 | 0.189% |
FAQ
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