Dajin Heavy Industry Corporation Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Wednesday for Dajin Heavy Industry Corporation
(Updated on May 08, 2024)
The Dajin Heavy Industry Corporation stock price fell by -1.41% on the last day (Wednesday, 8th May 2024) from ¥21.99 to ¥21.68. During the last trading day the stock fluctuated 2.60% from a day low at ¥21.50 to a day high of ¥22.06. The price has been going up and down for this period, and there has been a 13.21% gain for the last 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 -4 million shares and in total, 9 million shares were bought and sold for approximately ¥193.65 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 -6.94% during the next 3 months and, with a 90% probability hold a price between ¥17.33 and ¥21.85 at the end of this 3-month period.
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002487.SZ Signals & Forecast
The Dajin Heavy Industry Corporation 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 ¥20.79 and ¥21.31. 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 Tuesday, May 07, 2024, and so far it has fallen -1.41%. 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 Dajin Heavy Industry Corporation stock
Dajin Heavy Industry Corporation finds support from accumulated volume at ¥21.18 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 ¥0.560 between high and low, or 2.60%. For the last week, the stock has had daily average volatility of 7.23%.
Our recommended stop-loss: ¥20.73 (-4.38%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (002487.SZ) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Dajin Heavy Industry Corporation to open at ¥21.75, and during the day (based on 14 day Average True Range), to move between ¥20.52 and ¥22.84, which gives a possible trading interval of +/-¥1.16 (+/-5.37%) up or down from last closing price. If Dajin Heavy Industry Corporation takes out the full calculated possible swing range there will be an estimated 10.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥21.18 (2.31%) than the resistance at ¥22.98 (6.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Dajin Heavy Industry Corporation stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.553 Buy Candidate Unchanged
Predicted Opening Price for Dajin Heavy Industry Corporation of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| ¥21.75 ( 0.308%) | ¥21.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002487.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.31 | 2.89 % | |
| R2 | 22.09 | 1.90 % | ||
| R1 | 21.96 | 1.29 % | ||
| Current price: | 21.68 | |||
| Support | S1 | 21.53 | -0.679 % | |
| S2 | 21.40 | -1.29 % | ||
| S3 | 21.19 | -2.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.10 | 11.16 % | |
| R2 | 23.90 | 10.24 % | ||
| R1 | 22.98 | 6.00 % | ||
| Current price | 21.68 | |||
| Support | S1 | 21.18 | -2.31% | |
| S2 | 21.03 | -3.00% | ||
| S3 | 21.02 | -3.04% |
002487 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 12, 2023 | Jul 12, 2023 | Jul 12, 2023 | ¥0.0280 | 0.0891% |
| 2 | Jul 18, 2022 | Jul 18, 2022 | Jul 18, 2022 | ¥0.0220 | 0.0419% |
| 3 | Jun 18, 2021 | Jun 18, 2021 | Jun 18, 2021 | ¥0.0080 | 0.111% |
| 4 | Jun 30, 2020 | Jun 30, 2020 | Jun 30, 2020 | ¥0.0260 | 0.436% |
| 5 | Jul 16, 2019 | Jul 16, 2019 | Jul 16, 2019 | ¥0.0100 | 0.239% |
FAQ
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