Palm Eco-Town Development Co., Ltd Stock Forecast
Volatile ride for Palm Eco-Town Development Co., Ltd stock price on Friday moving between ¥1.39 and ¥1.56
(Updated on Jun 28, 2024)
The Palm Eco-Town Development Co., Ltd stock price fell by -1.41% on the last day (Friday, 28th Jun 2024) from ¥1.42 to ¥1.40. During the last trading day the stock fluctuated 12.23% from a day low at ¥1.39 to a day high of ¥1.56. The price has fallen in 6 of the last 10 days and is down by -13.04% for this period. 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 -2 million shares and in total, 11 million shares were bought and sold for approximately ¥15.02 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 -33.51% during the next 3 months and, with a 90% probability hold a price between ¥0.85 and ¥1.13 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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002431.SZ Signals & Forecast
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. The Palm Eco-Town Development Co., Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ¥1.47 and ¥1.76. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -33.96%. 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 Palm Eco-Town Development Co., Ltd stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 ¥0.170 between high and low, or 12.23%. For the last week, the stock has had daily average volatility of 10.34%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002431.SZ) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Palm Eco-Town Development Co., Ltd to open at ¥1.45, and during the day (based on 14 day Average True Range), to move between ¥1.29 and ¥1.51, which gives a possible trading interval of +/-¥0.114 (+/-8.12%) up or down from last closing price. If Palm Eco-Town Development Co., Ltd takes out the full calculated possible swing range there will be an estimated 16.23% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ¥1.46, some ¥0.0600 (4.29%) from the current price of ¥1.40, our system finds the risk reward not very attractive.
Is Palm Eco-Town Development Co., Ltd stock A Buy?
Palm Eco-Town Development Co., Ltd holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.966 Sell Candidate Upgraded
Predicted Opening Price for Palm Eco-Town Development Co., Ltd of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ¥1.45 ( 3.57%) | ¥1.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002431.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.62 | 15.71% |
| R2 | 1.56 | 11.08% |
| R1 | 1.51 | 8.21% |
| Price | 1.40 | |
| S1 | 1.39 | -1.07% |
| S2 | 1.34 | -3.93% |
| S3 | 1.28 | -8.57% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.64 | 17.14% |
| R2 | 1.60 | 14.29% |
| R1 | 1.46 | 4.29% |
| Price | 1.40 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
002431 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 11, 2018 | Jun 11, 2018 | Jun 11, 2018 | ¥0.0300 | 0.445% |
| 2 | May 22, 2017 | May 22, 2017 | May 22, 2017 | ¥0.0200 | 0.171% |
| 3 | Jul 01, 2015 | Jul 01, 2015 | Jul 01, 2015 | ¥0.0280 | 0.269% |
| 4 | May 15, 2014 | May 15, 2014 | May 15, 2014 | ¥0.0520 | 0.740% |
| 5 | May 22, 2013 | May 22, 2013 | May 22, 2013 | ¥0.0167 | 0.196% |
FAQ
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