Huizhou China Eagle Electronic Tech Stock Forecast
Evaluation of Huizhou China Eagle Electronic Tech stock downgraded after the last trading session.
(Updated on May 08, 2024)
The Huizhou China Eagle Electronic Tech stock price fell by -2.43% on the last day (Wednesday, 8th May 2024) from ¥7.41 to ¥7.23. During the last trading day the stock fluctuated 3.04% from a day low at ¥7.23 to a day high of ¥7.45. The price has been going up and down for this period, and there has been a 5.86% 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, 7 million shares were bought and sold for approximately ¥49.53 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 Huizhou China Eagle Electronic Tech stock with a 90% probability to be traded between ¥6.42 and ¥8.63 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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002579.SZ Signals & Forecast
There are mixed signals in the stock today. The Huizhou China Eagle Electronic Tech 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 ¥7.27 and ¥7.65. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 12.44%. 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).
Support, Risk & Stop-loss for Huizhou China Eagle Electronic Tech stock
Huizhou China Eagle Electronic Tech finds support from accumulated volume at ¥7.21 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 ¥0.220 between high and low, or 3.04%. For the last week, the stock has had daily average volatility of 3.65%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002579.SZ) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Huizhou China Eagle Electronic Tech to open at ¥7.30, and during the day (based on 14 day Average True Range), to move between ¥6.81 and ¥7.65, which gives a possible trading interval of +/-¥0.422 (+/-5.84%) up or down from last closing price. If Huizhou China Eagle Electronic Tech takes out the full calculated possible swing range there will be an estimated 11.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥7.21 (0.28%) than the resistance at ¥7.70 (6.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Huizhou China Eagle Electronic Tech stock A Buy?
Huizhou China Eagle Electronic Tech holds several negative signals and we believe that 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: -3.181 Sell Candidate Downgraded
Predicted Opening Price for Huizhou China Eagle Electronic Tech of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| ¥7.30 ( 1.01%) | ¥7.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002579.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.52 | 4.06 % | |
| R2 | 7.44 | 2.89 % | ||
| R1 | 7.39 | 2.18 % | ||
| Current price: | 7.23 | |||
| Support | S1 | 7.22 | -0.148 % | |
| S2 | 7.17 | -0.87 % | ||
| S3 | 7.08 | -2.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.54 | 18.12 % | |
| R2 | 8.17 | 13.00 % | ||
| R1 | 7.70 | 6.50 % | ||
| Current price | 7.23 | |||
| Support | S1 | 7.21 | -0.277% | |
| S2 | 7.18 | -0.692% | ||
| S3 | 6.41 | -11.34% |
002579 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 20, 2023 | Jun 20, 2023 | Jun 20, 2023 | ¥0.0800 | 0.718% |
| 2 | May 31, 2022 | May 31, 2022 | May 31, 2022 | ¥0.0800 | 1.20% |
| 3 | Jun 15, 2021 | Jun 15, 2021 | Jun 15, 2021 | ¥0.0500 | 0.498% |
| 4 | Jun 16, 2020 | Jun 16, 2020 | Jun 16, 2020 | ¥0.0833 | 0.713% |
| 5 | Jun 04, 2019 | Jun 04, 2019 | Jun 04, 2019 | ¥0.0833 | 1.05% |
FAQ
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