Dalian Insulator Group Co Ltd Stock Forecast
Dalian Insulator Group Co Ltd stock upgraded to Buy Candidate.
(Updated on May 24, 2024)
The Dalian Insulator Group Co Ltd stock price gained 1.83% on the last trading day (Friday, 24th May 2024), rising from ¥7.12 to ¥7.25. During the last trading day the stock fluctuated 3.51% from a day low at ¥7.13 to a day high of ¥7.38. The price has risen in 5 of the last 10 days but is still down by -0.28% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 8 million shares were bought and sold for approximately ¥57.49 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Dalian Insulator Group Co Ltd stock with a 90% probability to be traded between ¥6.34 and ¥7.79 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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002606.SZ Signals & Forecast
Mostly positive signals in the chart today. The Dalian Insulator Group Co Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ¥7.26. On a fall, the stock will find some support from the long-term average at approximately ¥7.03. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Thursday, May 23, 2024, and so far it has risen 1.83%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Dalian Insulator Group Co Ltd stock
Dalian Insulator Group Co Ltd finds support from accumulated volume at ¥7.23 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 ¥0.250 between high and low, or 3.51%. For the last week, the stock has had daily average volatility of 2.32%.
Our recommended stop-loss: ¥6.85 (-5.50%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (002606.SZ) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Dalian Insulator Group Co Ltd to open at ¥7.25, and during the day (based on 14 day Average True Range), to move between ¥6.95 and ¥7.55, which gives a possible trading interval of +/-¥0.303 (+/-4.17%) up or down from last closing price. If Dalian Insulator Group Co Ltd takes out the full calculated possible swing range there will be an estimated 8.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥7.23 (0.28%) than the resistance at ¥7.30 (0.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Dalian Insulator Group Co Ltd stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Dalian Insulator Group Co Ltd stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.628 Buy Candidate Upgraded
Predicted Opening Price for Dalian Insulator Group Co Ltd of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| ¥7.25 ( 0.0460%) | ¥7.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002606.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.50 | 3.49 % | |
| R2 | 7.41 | 2.18 % | ||
| R1 | 7.35 | 1.36 % | ||
| Current price: | 7.25 | |||
| Support | S1 | 7.16 | -1.27 % | |
| S2 | 7.10 | -2.09 % | ||
| S3 | 7.00 | -3.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.77 | 7.17 % | |
| R2 | 7.38 | 1.79 % | ||
| R1 | 7.30 | 0.690 % | ||
| Current price | 7.25 | |||
| Support | S1 | 7.23 | -0.276% | |
| S2 | 7.20 | -0.690% | ||
| S3 | 7.14 | -1.52% |
002606 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 06, 2023 | Jul 06, 2023 | Jul 06, 2023 | ¥0.0420 | 0.460% |
| 2 | Jun 13, 2022 | Jun 13, 2022 | Jun 13, 2022 | ¥0.0360 | 0.411% |
| 3 | Jun 08, 2021 | Jun 08, 2021 | Jun 08, 2021 | ¥0.0250 | 0.341% |
| 4 | Jul 15, 2020 | Jul 15, 2020 | Jul 15, 2020 | ¥0.0120 | 0.136% |
| 5 | Jun 19, 2018 | Jun 19, 2018 | Jun 19, 2018 | ¥0.0150 | 0.325% |
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