Giant Network Group Co Ltd Stock Forecast
Giant Network Group Co Ltd stock downgraded from Hold/Accumulate to Sell Candidate after Monday trading session.
(Updated on May 20, 2024)
The Giant Network Group Co Ltd stock price gained 1.31% on the last trading day (Monday, 20th May 2024), rising from ¥10.65 to ¥10.79. During the last trading day the stock fluctuated 3.74% from a day low at ¥10.44 to a day high of ¥10.83. The price has fallen in 7 of the last 10 days and is down by -9.18% for this period. Volume fell on the last day by -14 million shares and in total, 36 million shares were bought and sold for approximately ¥390.71 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 -4.88% during the next 3 months and, with a 90% probability hold a price between ¥9.53 and ¥12.76 at the end of this 3-month period.
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002558.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 5.47%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Giant Network Group 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 ¥10.86 and ¥11.25. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Giant Network Group Co Ltd stock
Giant Network Group Co Ltd finds support from accumulated volume at ¥10.55 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 ¥0.390 between high and low, or 3.74%. For the last week, the stock has had daily average volatility of 4.74%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002558.SZ) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Giant Network Group Co Ltd to open at ¥10.69, and during the day (based on 14 day Average True Range), to move between ¥10.11 and ¥11.47, which gives a possible trading interval of +/-¥0.676 (+/-6.27%) up or down from last closing price. If Giant Network Group Co Ltd takes out the full calculated possible swing range there will be an estimated 12.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥10.92 (1.20%) than the support at ¥10.55 (2.22%), 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
Giant Network Group Co Ltd will release earnings BMO on Monday, May 27, 2024. We will update the financials statements for Giant Network Group Co Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.39% in the first trading day after earnings release.
Is Giant Network Group Co Ltd stock A Buy?
Giant Network Group 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. 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: -1.122 Sell Candidate Downgraded
Predicted Opening Price for Giant Network Group Co Ltd of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ¥10.69 ( 0.96%) | ¥10.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002558.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.08 | 2.66 % | |
| R2 | 10.93 | 1.28 % | ||
| R1 | 10.84 | 0.423 % | ||
| Current price: | 10.79 | |||
| Support | S1 | 10.54 | -2.34 % | |
| S2 | 10.45 | -3.19 % | ||
| S3 | 10.30 | -4.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.32 | 23.45 % | |
| R2 | 11.83 | 9.64 % | ||
| R1 | 10.92 | 1.20 % | ||
| Current price | 10.79 | |||
| Support | S1 | 10.55 | -2.22% | |
| S2 | 10.52 | -2.50% | ||
| S3 | 10.18 | -5.65% |
002558 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 27, 2023 | Sep 27, 2023 | Sep 27, 2023 | ¥0.130 | 1.02% |
| 2 | Jun 05, 2023 | Jun 05, 2023 | Jun 05, 2023 | ¥0.160 | 0.792% |
| 3 | Jun 02, 2022 | Jun 02, 2022 | Jun 02, 2022 | ¥0.160 | 1.84% |
| 4 | Jun 09, 2021 | Jun 09, 2021 | Jun 09, 2021 | ¥0.160 | 1.15% |
| 5 | Jun 11, 2020 | Jun 11, 2020 | Jun 11, 2020 | ¥0.130 | 0.772% |
FAQ
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