Royal Group Co Ltd Stock Forecast
Royal Group Co Ltd stock upgraded to Hold/Accumulate.
(Updated on Apr 30, 2024)
The Royal Group Co Ltd stock price fell by -0.482% on the last day (Tuesday, 30th Apr 2024) from ¥4.15 to ¥4.13. During the last trading day the stock fluctuated 6.33% from a day low at ¥3.95 to a day high of ¥4.20. The price has risen in 6 of the last 10 days and is up by 13.46% 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 -5 million shares and in total, 13 million shares were bought and sold for approximately ¥53.45 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Royal Group Co Ltd stock with a 90% probability to be traded between ¥3.59 and ¥4.82 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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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 13.46%. Further rise is indicated until a new top pivot has been found. 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 ¥4.34. On a fall, the stock will find some support from the short-term average at ¥4.02. 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). 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 Royal Group Co Ltd stock
Royal Group Co Ltd finds support from accumulated volume at ¥4.05 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 ¥0.250 between high and low, or 6.33%. For the last week, the stock has had daily average volatility of 6.68%.
Our recommended stop-loss: ¥3.96 (-4.16%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (002329.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Royal Group Co Ltd to open at ¥4.09, and during the day (based on 14 day Average True Range), to move between ¥3.85 and ¥4.41, which gives a possible trading interval of +/-¥0.284 (+/-6.88%) 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 13.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥4.05 (1.94%) than the resistance at ¥4.32 (4.60%), 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 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.154 Hold/Accumulate Upgraded
Predicted Opening Price for Royal Group Co Ltd of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
¥4.09 ( 0.89%) | ¥4.13 |
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 | 4.34 | 5.17 % | |
R2 | 4.25 | 2.85 % | ||
R1 | 4.19 | 1.42 % | ||
Current price: | 4.13 | |||
Support | S1 | 4.00 | -3.20 % | |
S2 | 3.94 | -4.63 % | ||
S3 | 3.84 | -6.94 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.67 | 13.08 % | |
R2 | 4.51 | 9.20 % | ||
R1 | 4.32 | 4.60 % | ||
Current price | 4.13 | |||
Support | S1 | 4.05 | -1.94% | |
S2 | 4.03 | -2.42% | ||
S3 | 4.02 | -2.66% |
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
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