GCL System Integration Technology Co Ltd Stock Forecast
Green day on Wednesday for GCL System Integration Technology Co Ltd stock after gaining 0.85%
(Updated on Apr 24, 2024)
The GCL System Integration Technology Co Ltd stock price gained 0.85% on the last trading day (Wednesday, 24th Apr 2024), rising from ¥2.35 to ¥2.37. During the last trading day the stock fluctuated 4.33% from a day low at ¥2.31 to a day high of ¥2.41. The price has fallen in 6 of the last 10 days and is down by -5.2% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 33 million shares were bought and sold for approximately ¥79.04 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 GCL System Integration Technology Co Ltd stock with a 90% probability to be traded between ¥2.10 and ¥2.74 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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002506.SZ Signals & Forecast
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. The GCL System Integration Technology 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 ¥2.38 and ¥2.57. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 11, 2024, and so far it has fallen -13.82%. 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 GCL System Integration Technology Co Ltd stock
GCL System Integration Technology Co Ltd finds support from accumulated volume at ¥2.35 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 ¥0.100 between high and low, or 4.33%. For the last week, the stock has had daily average volatility of 4.78%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002506.SZ) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect GCL System Integration Technology Co Ltd to open at ¥2.36, and during the day (based on 14 day Average True Range), to move between ¥2.26 and ¥2.48, which gives a possible trading interval of +/-¥0.105 (+/-4.44%) up or down from last closing price. If GCL System Integration Technology Co Ltd takes out the full calculated possible swing range there will be an estimated 8.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥2.35 (0.84%) than the resistance at ¥2.53 (6.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is GCL System Integration Technology Co Ltd stock A Buy?
GCL System Integration Technology 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.
Current score: -2.841 Sell Candidate Unchanged
Predicted Opening Price for GCL System Integration Technology Co Ltd of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| ¥2.36 ( 0.281%) | ¥2.37 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002506.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.46 | 3.94 % | |
| R2 | 2.43 | 2.33 % | ||
| R1 | 2.40 | 1.33 % | ||
| Current price: | 2.37 | |||
| Support | S1 | 2.33 | -1.89 % | |
| S2 | 2.30 | -2.89 % | ||
| S3 | 2.26 | -4.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.55 | 7.59 % | |
| R2 | 2.54 | 7.17 % | ||
| R1 | 2.53 | 6.75 % | ||
| Current price | 2.37 | |||
| Support | S1 | 2.35 | -0.84% | |
| S2 | 2.32 | -2.11% | ||
| S3 | 2.29 | -3.38% |
002506 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 06, 2012 | Jul 06, 2012 | Jul 06, 2012 | ¥0.0334 | 1.46% |
| 2 | Apr 18, 2011 | Apr 18, 2011 | Apr 18, 2011 | ¥0.0418 | 0.83% |
FAQ
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