Foshan Nationstar Optoelectronics Co Ltd Stock Forecast
Foshan Nationstar Optoelectronics Co Ltd stock downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on Apr 30, 2024)
The Foshan Nationstar Optoelectronics Co Ltd stock price fell by -1.63% on the last day (Tuesday, 30th Apr 2024) from ¥7.37 to ¥7.25. During the last trading day the stock fluctuated 9.48% from a day low at ¥6.75 to a day high of ¥7.39. The price has risen in 6 of the last 10 days and is up by 19.24% 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, 10 million shares were bought and sold for approximately ¥70.91 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 8.57% during the next 3 months and, with a 90% probability hold a price between ¥6.72 and ¥8.86 at the end of this 3-month period.
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002449.SZ Signals & Forecast
The Foshan Nationstar Optoelectronics Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥6.82 and ¥7.10. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -1.63%. 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 Foshan Nationstar Optoelectronics Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥6.55 and ¥6.54. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Foshan Nationstar Optoelectronics Co Ltd finds support just below today's level at ¥6.55. If this is broken, then the next support from accumulated volume will be at ¥6.54 and ¥5.66.
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 ¥0.640 between high and low, or 9.48%. For the last week, the stock has had daily average volatility of 6.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002449.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Foshan Nationstar Optoelectronics Co Ltd to open at ¥7.13, and during the day (based on 14 day Average True Range), to move between ¥6.79 and ¥7.71, which gives a possible trading interval of +/-¥0.459 (+/-6.33%) up or down from last closing price. If Foshan Nationstar Optoelectronics Co Ltd takes out the full calculated possible swing range there will be an estimated 12.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥7.40 (2.07%) than the support at ¥6.55 (9.66%), 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 Foshan Nationstar Optoelectronics Co Ltd stock A Buy?
Foshan Nationstar Optoelectronics 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: -1.169 Sell Candidate Downgraded
Predicted Opening Price for Foshan Nationstar Optoelectronics Co Ltd of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥7.13 ( 1.66%) | ¥7.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002449.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.77 | 7.17 % | |
| R2 | 7.53 | 3.80 % | ||
| R1 | 7.37 | 1.72 % | ||
| Current price: | 7.25 | |||
| Support | S1 | 6.89 | -5.03 % | |
| S2 | 6.73 | -7.11 % | ||
| S3 | 6.49 | -10.48 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.66 | 5.66 % | |
| R2 | 7.51 | 3.59 % | ||
| R1 | 7.40 | 2.07 % | ||
| Current price | 7.25 | |||
| Support | S1 | 6.55 | -9.66% | |
| S2 | 6.54 | -9.79% | ||
| S3 | 5.66 | -21.93% |
002449 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 15, 2023 | Jun 15, 2023 | Jun 15, 2023 | ¥0.0600 | 0.682% |
| 2 | May 24, 2022 | May 24, 2022 | May 24, 2022 | ¥0.0500 | 0.590% |
| 3 | Jun 22, 2021 | Jun 22, 2021 | Jun 22, 2021 | ¥0.0600 | 0.618% |
| 4 | Jun 12, 2020 | Jun 12, 2020 | Jun 12, 2020 | ¥0.300 | 2.69% |
| 5 | May 15, 2019 | May 15, 2019 | May 15, 2019 | ¥0.300 | 2.15% |
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