Guangzhou Tech-Long Packgng Mchnry CoLtd Stock Forecast
Evaluation of Guangzhou Tech-Long Packgng Mchnry CoLtd stock downgraded after the last trading session.
(Updated on May 07, 2024)
The Guangzhou Tech-Long Packgng Mchnry CoLtd stock price fell by -0.89% on the last day (Tuesday, 7th May 2024) from ¥8.99 to ¥8.91. During the last trading day the stock fluctuated 3.44% from a day low at ¥8.72 to a day high of ¥9.02. The price has risen in 7 of the last 10 days and is up by 11.93% over the past 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 -4 million shares and in total, 4 million shares were bought and sold for approximately ¥38.04 million.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.24% during the next 3 months and, with a 90% probability hold a price between ¥7.23 and ¥12.32 at the end of this 3-month period.
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002209.SZ Signals & Forecast
The Guangzhou Tech-Long Packgng Mchnry CoLtd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥8.58 and ¥8.80. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Friday, March 01, 2024, and so far it has fallen -20.80%. Further fall is indicated until a new bottom pivot has been found. 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 Guangzhou Tech-Long Packgng Mchnry CoLtd stock
Guangzhou Tech-Long Packgng Mchnry CoLtd finds support from accumulated volume at ¥8.87 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 ¥0.300 between high and low, or 3.44%. For the last week, the stock has had daily average volatility of 6.08%.
Our recommended stop-loss: ¥8.38 (-5.98%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 42 days ago.)
Trading Expectations (002209.SZ) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Guangzhou Tech-Long Packgng Mchnry CoLtd to open at ¥8.88, and during the day (based on 14 day Average True Range), to move between ¥8.31 and ¥9.51, which gives a possible trading interval of +/-¥0.604 (+/-6.78%) up or down from last closing price. If Guangzhou Tech-Long Packgng Mchnry CoLtd takes out the full calculated possible swing range there will be an estimated 13.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥8.87 (0.45%) than the resistance at ¥9.33 (4.71%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Guangzhou Tech-Long Packgng Mchnry CoLtd stock A Buy?
Guangzhou Tech-Long Packgng Mchnry CoLtd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.977 Hold/Accumulate Downgraded
Predicted Opening Price for Guangzhou Tech-Long Packgng Mchnry CoLtd of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| ¥8.88 ( 0.299%) | ¥8.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002209.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.18 | 3.07 % | |
| R2 | 9.07 | 1.78 % | ||
| R1 | 9.00 | 0.99 % | ||
| Current price: | 8.91 | |||
| Support | S1 | 8.77 | -1.59 % | |
| S2 | 8.70 | -2.38 % | ||
| S3 | 8.58 | -3.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.36 | 16.27 % | |
| R2 | 9.78 | 9.76 % | ||
| R1 | 9.33 | 4.71 % | ||
| Current price | 8.91 | |||
| Support | S1 | 8.87 | -0.449% | |
| S2 | 8.19 | -8.08% | ||
| S3 | 8.07 | -9.43% |
002209 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 20, 2023 | Jul 20, 2023 | Jul 20, 2023 | ¥0.0130 | 0.139% |
| 2 | Jun 17, 2021 | Jun 17, 2021 | Jun 17, 2021 | ¥0.0100 | 0.147% |
| 3 | Jun 27, 2019 | Jun 27, 2019 | Jun 27, 2019 | ¥0.0060 | 0.0826% |
| 4 | Jun 21, 2018 | Jun 21, 2018 | Jun 21, 2018 | ¥0.0120 | 0.176% |
| 5 | May 06, 2016 | May 06, 2016 | May 06, 2016 | ¥0.0100 | 0.0436% |
FAQ
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