Changchun Up Optotech Co.,Ltd. Stock Forecast
Changchun Up Optotech Co.,Ltd. stock price up 0.172% on Friday
(Updated on May 31, 2024)
The Changchun Up Optotech Co.,Ltd. stock price gained 0.172% on the last trading day (Friday, 31st May 2024), rising from ¥29.00 to ¥29.05. It has now gained 4 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 3.26% from a day low at ¥28.57 to a day high of ¥29.50. The price has risen in 6 of the last 10 days and is up by 5.37% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 11 million shares were bought and sold for approximately ¥318.34 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is ¥28.09, a level that may pose a second chance to hit a runner. According to fan-theory ¥33.64 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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002338.SZ Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, May 08, 2024, and so far it has fallen -0.309%. 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). The Changchun Up Optotech Co.,Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ¥27.61 and ¥27.50. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Changchun Up Optotech Co.,Ltd. stock
Changchun Up Optotech Co.,Ltd. finds support from accumulated volume at ¥29.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ¥0.93 between high and low, or 3.26%. For the last week, the stock has had daily average volatility of 6.61%.
Our recommended stop-loss: ¥28.06 (-3.40%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 29 days ago.)
Trading Expectations (002338.SZ) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Changchun Up Optotech Co.,Ltd. to open at ¥29.04, and during the day (based on 14 day Average True Range), to move between ¥27.45 and ¥30.65, which gives a possible trading interval of +/-¥1.60 (+/-5.50%) up or down from last closing price. If Changchun Up Optotech Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 11.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥29.00 (0.17%) than the resistance at ¥31.28 (7.68%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Changchun Up Optotech Co.,Ltd. stock A Buy?
Changchun Up Optotech 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: 0.131 Hold/Accumulate Unchanged
Predicted Opening Price for Changchun Up Optotech Co.,Ltd. of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| ¥29.04 ( 0.0344%) | ¥29.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002338.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.97 | 3.17 % | |
| R2 | 29.61 | 1.94 % | ||
| R1 | 29.40 | 1.19 % | ||
| Current price: | 29.05 | |||
| Support | S1 | 28.68 | -1.26 % | |
| S2 | 28.47 | -2.01 % | ||
| S3 | 28.11 | -3.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.88 | 13.18 % | |
| R2 | 31.83 | 9.57 % | ||
| R1 | 31.28 | 7.68 % | ||
| Current price | 29.05 | |||
| Support | S1 | 29.00 | -0.172% | |
| S2 | 28.80 | -0.86% | ||
| S3 | 27.93 | -3.86% |
002338 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 21, 2023 | Jul 21, 2023 | Jul 21, 2023 | ¥0.0100 | 0.0283% |
| 2 | Jul 21, 2022 | Jul 21, 2022 | Jul 21, 2022 | ¥0.0400 | 0.204% |
| 3 | Jul 16, 2021 | Jul 16, 2021 | Jul 16, 2021 | ¥0.0800 | 0.455% |
| 4 | Jul 09, 2020 | Jul 09, 2020 | Jul 09, 2020 | ¥0.0500 | 0.152% |
| 5 | Jul 16, 2019 | Jul 16, 2019 | Jul 16, 2019 | ¥0.0500 | 0.379% |
FAQ
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