Cloud Live Technology Group Co Ltd Stock Forecast
Cloud Live Technology Group Co Ltd stock downgraded from Hold/Accumulate to Sell Candidate after Monday trading session.
(Updated on May 06, 2024)
The Cloud Live Technology Group Co Ltd stock price fell by -1.54% on the last day (Monday, 6th May 2024) from ¥3.25 to ¥3.20. During the last trading day the stock fluctuated 4.76% from a day low at ¥3.15 to a day high of ¥3.30. The price has fallen in 6 of the last 10 days but is still up by 4.58% 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 -25 million shares and in total, 26 million shares were bought and sold for approximately ¥84.64 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 5.78% during the next 3 months and, with a 90% probability hold a price between ¥2.82 and ¥4.75 at the end of this 3-month period.
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002306.SZ Signals & Forecast
There are mixed signals in the stock today. The Cloud Live Technology Group 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 ¥3.56. On a fall, the stock will find some support from the short-term average at ¥3.03. 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. A sell signal was issued from a pivot top point on Friday, March 22, 2024, and so far it has fallen -26.77%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Cloud Live Technology Group Co Ltd stock
Cloud Live Technology Group Co Ltd finds support from accumulated volume at ¥3.15 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ¥0.150 between high and low, or 4.76%. For the last week, the stock has had daily average volatility of 7.60%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002306.SZ) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Cloud Live Technology Group Co Ltd to open at ¥3.22, and during the day (based on 14 day Average True Range), to move between ¥2.89 and ¥3.51, which gives a possible trading interval of +/-¥0.314 (+/-9.82%) up or down from last closing price. If Cloud Live Technology Group Co Ltd takes out the full calculated possible swing range there will be an estimated 19.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥3.25 (1.56%) than the support at ¥3.15 (1.56%), 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 Cloud Live Technology Group Co Ltd stock A Buy?
Cloud Live Technology Group 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: -4.468 Sell Candidate Downgraded
Predicted Opening Price for Cloud Live Technology Group Co Ltd of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| ¥3.22 ( 0.521%) | ¥3.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002306.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.37 | 5.21 % | |
| R2 | 3.31 | 3.42 % | ||
| R1 | 3.27 | 2.31 % | ||
| Current price: | 3.20 | |||
| Support | S1 | 3.16 | -1.27 % | |
| S2 | 3.12 | -2.38 % | ||
| S3 | 3.07 | -4.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.88 | 21.25 % | |
| R2 | 3.80 | 18.75 % | ||
| R1 | 3.25 | 1.56 % | ||
| Current price | 3.20 | |||
| Support | S1 | 3.15 | -1.56% | |
| S2 | 2.88 | -10.00% | ||
| S3 | 2.52 | -21.25% |
002306 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 01, 2013 | Jul 01, 2013 | Jul 01, 2013 | ¥0.0800 | 2.57% |
| 2 | May 11, 2012 | May 11, 2012 | May 11, 2012 | ¥0.125 | 2.41% |
| 3 | Apr 13, 2010 | Apr 13, 2010 | Apr 13, 2010 | ¥0.0713 | 1.04% |
FAQ
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