Royal Group Co Ltd Stock Forecast
Royal Group Co Ltd stock price up 3.32% on Wednesday
(Updated on Apr 24, 2024)
The Royal Group Co Ltd stock price gained 3.32% on the last trading day (Wednesday, 24th Apr 2024), rising from ¥3.92 to ¥4.05. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 9.33% from a day low at ¥3.86 to a day high of ¥4.22. The price has fallen in 6 of the last 10 days and is down by -7.74% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 13 million more shares were traded than the day before. In total, 23 million shares were bought and sold for approximately ¥92.10 million.
The stock lies in the middle of a very 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 -4.80% during the next 3 months and, with a 90% probability hold a price between ¥3.23 and ¥4.50 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
002329.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 11.26%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Royal 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 ¥4.36. On a fall, the stock will find some support from the short-term average at ¥3.87. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Royal Group Co Ltd stock
Royal Group Co Ltd finds support from accumulated volume at ¥4.03 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 ¥0.360 between high and low, or 9.33%. For the last week, the stock has had daily average volatility of 8.61%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002329.SZ) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Royal Group Co Ltd to open at ¥4.04, and during the day (based on 14 day Average True Range), to move between ¥3.75 and ¥4.35, which gives a possible trading interval of +/-¥0.300 (+/-7.40%) up or down from last closing price. If Royal Group Co Ltd takes out the full calculated possible swing range there will be an estimated 14.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥4.03 (0.49%) than the resistance at ¥4.32 (6.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Royal Group Co Ltd stock A Buy?
Royal 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.
Current score: -1.806 Sell Candidate Unchanged
Predicted Opening Price for Royal Group Co Ltd of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| ¥4.04 ( 0.165%) | ¥4.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002329.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.40 | 8.72 % | |
| R2 | 4.27 | 5.33 % | ||
| R1 | 4.18 | 3.23 % | ||
| Current price: | 4.05 | |||
| Support | S1 | 3.91 | -3.56 % | |
| S2 | 3.82 | -5.66 % | ||
| S3 | 3.68 | -9.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.67 | 15.31 % | |
| R2 | 4.51 | 11.36 % | ||
| R1 | 4.32 | 6.67 % | ||
| Current price | 4.05 | |||
| Support | S1 | 4.03 | -0.494% | |
| S2 | 3.68 | -9.14% | ||
| S3 | 3.63 | -10.37% |
002329 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 18, 2020 | Aug 18, 2020 | Aug 18, 2020 | ¥0.0100 | 0.160% |
| 2 | May 28, 2018 | May 28, 2018 | May 28, 2018 | ¥0.0100 | 0.182% |
| 3 | Jul 14, 2017 | Jul 14, 2017 | Jul 14, 2017 | ¥0.0600 | 0.634% |
| 4 | May 04, 2015 | May 04, 2015 | May 04, 2015 | ¥0.0179 | 0.135% |
| 5 | Jul 18, 2014 | Jul 18, 2014 | Jul 18, 2014 | ¥0.0179 | 0.329% |
FAQ
Click here for our free guide on how to buy Royal Group Co Ltd Stock.
