OFILM Group Co Ltd Stock Forecast
Volatile ride for OFILM Group Co Ltd stock price on Thursday moving between ¥9.28 and ¥10.26
(Updated on Mar 28, 2024)
The OFILM Group Co Ltd stock price gained 7.82% on the last trading day (Thursday, 28th Mar 2024), rising from ¥9.33 to ¥10.06. During the last trading day the stock fluctuated 10.56% from a day low at ¥9.28 to a day high of ¥10.26. The price has risen in 6 of the last 10 days and is up by 4.36% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 113 million more shares were traded than the day before. In total, 388 million shares were bought and sold for approximately ¥3.90 billion.
The stock lies in the middle of a very wide and strong 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 34.94% during the next 3 months and, with a 90% probability hold a price between ¥10.35 and ¥14.57 at the end of this 3-month period.
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002456.SZ Signals & Forecast
The OFILM Group Co Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ¥10.10. On a fall, the stock will find some support from the long-term average at approximately ¥8.67. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Wednesday, March 20, 2024, and so far it has fallen -4.28%. 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).
Support, Risk & Stop-loss for OFILM Group Co Ltd stock
OFILM Group Co Ltd finds support from accumulated volume at ¥9.71 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 ¥0.98 between high and low, or 10.56%. For the last week, the stock has had daily average volatility of 6.85%.
Our recommended stop-loss: ¥9.56 (-5.02%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (002456.SZ) For The Upcoming Trading Day Of Friday 29th
For the upcoming trading day on Friday, 29th we expect OFILM Group Co Ltd to open at ¥9.87, and during the day (based on 14 day Average True Range), to move between ¥9.50 and ¥10.62, which gives a possible trading interval of +/-¥0.557 (+/-5.53%) up or down from last closing price. If OFILM Group Co Ltd takes out the full calculated possible swing range there will be an estimated 11.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥10.40 (3.38%) than the support at ¥9.71 (3.48%), 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 OFILM Group Co Ltd stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for OFILM Group Co Ltd stock to perform well in the short-term.
Current score: 2.226 Buy Candidate Unchanged
Predicted Opening Price for OFILM Group Co Ltd of Friday, March 29, 2024
Fair opening price March 29, 2024 | Current price |
---|---|
¥9.87 ( 1.92%) | ¥10.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002456.SZ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.85 | 7.82 % | |
R2 | 10.47 | 4.10 % | ||
R1 | 10.24 | 1.80 % | ||
Current price: | 10.06 | |||
Support | S1 | 9.49 | -5.64 % | |
S2 | 9.26 | -7.94 % | ||
S3 | 8.89 | -11.66 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.51 | 4.47 % | |
R2 | 10.50 | 4.37 % | ||
R1 | 10.40 | 3.38 % | ||
Current price | 10.06 | |||
Support | S1 | 9.71 | -3.48% | |
S2 | 9.39 | -6.66% | ||
S3 | 8.65 | -14.02% |
002456 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Nov 09, 2020 | Nov 09, 2020 | Nov 09, 2020 | ¥0.0080 | 0.0471% |
2 | Jul 06, 2020 | Jul 06, 2020 | Jul 06, 2020 | ¥0.0210 | 0.106% |
3 | Aug 06, 2018 | Aug 06, 2018 | Aug 06, 2018 | ¥0.0460 | 0.297% |
4 | Jun 12, 2017 | Jun 12, 2017 | Jun 12, 2017 | ¥0.110 | 0.665% |
5 | Jul 01, 2016 | Jul 01, 2016 | Jul 01, 2016 | ¥0.0280 | 0.241% |
FAQ
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