Iflytek Co Ltd Stock Forecast
Iflytek Co Ltd stock price down 1.52% on Tuesday
(Updated on Jul 02, 2024)
The Iflytek Co Ltd stock price fell by -1.52% on the last day (Tuesday, 2nd Jul 2024) from ¥43.49 to ¥42.83. During the last trading day the stock fluctuated 2.84% from a day low at ¥42.67 to a day high of ¥43.88. The price has been going up and down for this period, and there has been a -0.16% loss 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 -7 million shares and in total, 32 million shares were bought and sold for approximately ¥1.37 billion.
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 -8.63% during the next 3 months and, with a 90% probability hold a price between ¥35.33 and ¥40.62 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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002230.SZ Signals & Forecast
The Iflytek Co Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ¥42.88. On a fall, the stock will find some support from the long-term average at approximately ¥42.72. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Wednesday, June 26, 2024, and so far it has fallen -4.31%. 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 Iflytek Co Ltd stock
Iflytek Co Ltd finds support from accumulated volume at ¥41.98 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ¥1.21 (2.84%) between high and low. For the last week, the stock has had daily average volatility of 4.95%.
Our recommended stop-loss: ¥41.04 (-4.18%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 23 days ago.)
Trading Expectations (002230.SZ) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Iflytek Co Ltd to open at ¥43.13, and during the day (based on 14 day Average True Range), to move between ¥41.22 and ¥44.44, which gives a possible trading interval of +/-¥1.61 (+/-3.77%) up or down from last closing price. If Iflytek Co Ltd takes out the full calculated possible swing range there will be an estimated 7.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥43.14 (0.72%) than the support at ¥41.98 (1.98%), 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 Iflytek Co Ltd stock A Buy?
Iflytek Co Ltd 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.
Current score: 0.539 Hold/Accumulate Unchanged
Predicted Opening Price for Iflytek Co Ltd of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| ¥43.13 ( 0.693%) | ¥42.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002230.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 44.34 | 3.52% |
| R2 | 43.87 | 2.44% |
| R1 | 43.59 | 1.77% |
| Price | 42.83 | |
| S1 | 42.66 | -0.387% |
| S2 | 42.38 | -1.05% |
| S3 | 41.92 | -2.13% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 44.76 | 4.51% |
| R2 | 43.60 | 1.80% |
| R1 | 43.14 | 0.724% |
| Price | 42.83 | |
| S1 | 41.98 | -1.98% |
| S2 | 41.97 | -2.01% |
| S3 | 41.51 | -3.08% |
002230 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 05, 2024 | Jul 05, 2024 | Jul 05, 2024 | ¥0.100 | 0.233% |
| 2 | Jul 05, 2023 | Jul 05, 2023 | Jul 05, 2023 | ¥0.100 | 0.155% |
| 3 | Jun 13, 2022 | Jun 13, 2022 | Jun 13, 2022 | ¥0.100 | 0.264% |
| 4 | Jun 08, 2021 | Jun 08, 2021 | Jun 08, 2021 | ¥0.200 | 0.340% |
| 5 | Jun 18, 2020 | Jun 18, 2020 | Jun 18, 2020 | ¥0.100 | 0.286% |
FAQ
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