Kingenta Ecological Enginering Gp Co Ltd Stock Forecast
Big movements in Kingenta Ecological Enginering Gp Co Ltd stock price on Friday moving 13.25% between high and low
(Updated on May 17, 2024)
The Kingenta Ecological Enginering Gp Co Ltd stock price fell by -5.26% on the last day (Friday, 17th May 2024) from ¥1.71 to ¥1.62. During the last trading day the stock fluctuated 13.25% from a day low at ¥1.51 to a day high of ¥1.71. The price has risen in 4 of the last 10 days and is up by 9.46% over the past 2 weeks. Volume has increased on the last day by 21 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 142 million shares were bought and sold for approximately ¥230.30 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 Kingenta Ecological Enginering Gp Co Ltd stock with a 90% probability to be traded between ¥1.33 and ¥1.72 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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002470.SZ Signals & Forecast
The Kingenta Ecological Enginering Gp 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 ¥1.55 and ¥1.49. 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 Thursday, May 16, 2024, and so far it has fallen -5.26%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Kingenta Ecological Enginering Gp Co Ltd stock
Kingenta Ecological Enginering Gp Co Ltd finds support from accumulated volume at ¥1.58 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 ¥0.200 between high and low, or 13.25%. For the last week, the stock has had daily average volatility of 8.57%.
Our recommended stop-loss: ¥1.55 (-4.52%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (002470.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Kingenta Ecological Enginering Gp Co Ltd to open at ¥1.61, and during the day (based on 14 day Average True Range), to move between ¥1.52 and ¥1.72, which gives a possible trading interval of +/-¥0.0981 (+/-6.05%) up or down from last closing price. If Kingenta Ecological Enginering Gp Co Ltd takes out the full calculated possible swing range there will be an estimated 12.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥1.63 (0.62%) than the support at ¥1.58 (2.47%), 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.
Earnings coming up
Kingenta Ecological Enginering Gp Co Ltd will release earnings BMO on Friday, May 24, 2024. We will update the financials statements for Kingenta Ecological Enginering Gp Co Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.14% in the first trading day after earnings release.
Is Kingenta Ecological Enginering Gp Co Ltd stock A Buy?
Kingenta Ecological Enginering Gp 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: 0.345 Hold/Accumulate Unchanged
Predicted Opening Price for Kingenta Ecological Enginering Gp Co Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥1.61 ( 0.412%) | ¥1.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002470.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.81 | 11.93 % | |
| R2 | 1.74 | 7.22 % | ||
| R1 | 1.69 | 4.30 % | ||
| Current price: | 1.62 | |||
| Support | S1 | 1.54 | -5.13 % | |
| S2 | 1.49 | -8.04 % | ||
| S3 | 1.41 | -12.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 1.71 | 5.56 % | ||
| R1 | 1.63 | 0.617 % | ||
| Current price | 1.62 | |||
| Support | S1 | 1.58 | -2.47% | |
| S2 | 1.51 | -6.79% | ||
| S3 | 1.48 | -8.64% |
002470 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 19, 2018 | Jun 19, 2018 | Jun 19, 2018 | ¥0.0800 | 1.07% |
| 2 | Jul 17, 2017 | Jul 17, 2017 | Jul 17, 2017 | ¥0.100 | 1.37% |
| 3 | May 12, 2016 | May 12, 2016 | May 12, 2016 | ¥0.0500 | 0.659% |
| 4 | May 22, 2015 | May 22, 2015 | May 22, 2015 | ¥0.0375 | 0.267% |
| 5 | Jun 13, 2014 | Jun 13, 2014 | Jun 13, 2014 | ¥0.0375 | 0.81% |
FAQ
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