Eternal Asia Supply Chain Management LTD Stock Forecast
Eternal Asia Supply Chain Management LTD stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on May 08, 2024)
The Eternal Asia Supply Chain Management LTD stock price fell by -2.46% on the last day (Wednesday, 8th May 2024) from ¥3.66 to ¥3.57. During the last trading day the stock fluctuated 2.52% from a day low at ¥3.57 to a day high of ¥3.66. The price has risen in 5 of the last 10 days and is up by 4.39% over the past 2 weeks. Volume has increased on the last day by 4 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 20 million shares were bought and sold for approximately ¥69.68 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 -10.11% during the next 3 months and, with a 90% probability hold a price between ¥2.93 and ¥3.39 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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002183.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 6.25%. 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 Eternal Asia Supply Chain Management 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 ¥3.60 and ¥3.71. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Eternal Asia Supply Chain Management LTD stock
Eternal Asia Supply Chain Management LTD finds support from accumulated volume at ¥3.52 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 ¥0.0900 between high and low, or 2.52%. For the last week, the stock has had daily average volatility of 3.16%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002183.SZ) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Eternal Asia Supply Chain Management LTD to open at ¥3.60, and during the day (based on 14 day Average True Range), to move between ¥3.42 and ¥3.72, which gives a possible trading interval of +/-¥0.149 (+/-4.17%) up or down from last closing price. If Eternal Asia Supply Chain Management LTD takes out the full calculated possible swing range there will be an estimated 8.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥3.52 (1.40%) than the resistance at ¥3.80 (6.44%), 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
Eternal Asia Supply Chain Management LTD will release earnings BMO on Monday, May 13, 2024. We will update the financials statements for Eternal Asia Supply Chain Management LTD, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.78% in the first trading day after earnings release.
Is Eternal Asia Supply Chain Management LTD stock A Buy?
Eternal Asia Supply Chain Management LTD holds several negative signals and is within a 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. 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: -2.037 Sell Candidate Downgraded
Predicted Opening Price for Eternal Asia Supply Chain Management LTD of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| ¥3.60 ( 0.84%) | ¥3.57 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002183.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.69 | 3.36 % | |
| R2 | 3.66 | 2.40 % | ||
| R1 | 3.63 | 1.80 % | ||
| Current price: | 3.57 | |||
| Support | S1 | 3.57 | -0.123 % | |
| S2 | 3.54 | -0.718 % | ||
| S3 | 3.51 | -1.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.93 | 10.08 % | |
| R2 | 3.86 | 8.12 % | ||
| R1 | 3.80 | 6.44 % | ||
| Current price | 3.57 | |||
| Support | S1 | 3.52 | -1.40% | |
| S2 | 3.44 | -3.64% | ||
| S3 | 3.36 | -5.88% |
002183 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | ¥0.0200 | 0.394% |
| 2 | Jun 24, 2022 | Jun 24, 2022 | Jun 24, 2022 | ¥0.0400 | 0.564% |
| 3 | Jun 10, 2021 | Jun 10, 2021 | Jun 10, 2021 | ¥0.0200 | 0.337% |
| 4 | Jul 01, 2020 | Jul 01, 2020 | Jul 01, 2020 | ¥0.0100 | 0.177% |
| 5 | Jun 27, 2019 | Jun 27, 2019 | Jun 27, 2019 | ¥0.0200 | 0.414% |
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