Dalian My Gym Education Technology CoLtd Stock Forecast
High volatility in Dalian My Gym Education Technology CoLtd stock price on Friday which ended trading at ¥0.91
(Updated on May 17, 2024)
The Dalian My Gym Education Technology CoLtd stock price fell by -5.21% on the last day (Friday, 17th May 2024) from ¥0.96 to ¥0.91. It has now fallen 10 days in a row. During the last trading day the stock fluctuated 29.67% from a day low at ¥0.91 to a day high of ¥1.18. The price has fallen in 10 of the last 10 days and is down by -40.52% for this period. 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 -190 thousand shares and in total, 1 million shares were bought and sold for approximately ¥1.26 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 -33.58% during the next 3 months and, with a 90% probability hold a price between ¥0.290 and ¥1.46 at the end of this 3-month period.
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002621.SZ Signals & Forecast
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. The Dalian My Gym Education Technology CoLtd 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 ¥1.07 and ¥1.70. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -68.40%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Dalian My Gym Education Technology CoLtd stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved ¥0.270 between high and low, or 29.67%. For the last week the stock has had daily average volatility of 17.22%.
Dalian My Gym Education Technology CoLtd is oversold on RSI14 (11). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002621.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Dalian My Gym Education Technology CoLtd to open at ¥1.00, and during the day (based on 14 day Average True Range), to move between ¥0.690 and ¥1.13, which gives a possible trading interval of +/-¥0.220 (+/-24.17%) up or down from last closing price. If Dalian My Gym Education Technology CoLtd takes out the full calculated possible swing range there will be an estimated 48.35% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ¥0.96, some ¥0.0500 (5.49%) from the current price of ¥0.91, our system finds the risk reward not very attractive.
Is Dalian My Gym Education Technology CoLtd stock A Buy?
Dalian My Gym Education Technology CoLtd 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: -5.933 Strong Sell Candidate Unchanged
Predicted Opening Price for Dalian My Gym Education Technology CoLtd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥1.00 ( 9.89%) | ¥0.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002621.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.27 | 39.56 % | |
| R2 | 1.17 | 28.23 % | ||
| R1 | 1.10 | 21.22 % | ||
| Current price: | 0.91 | |||
| Support | S1 | 0.90 | -1.44 % | |
| S2 | 0.83 | -8.45 % | ||
| S3 | 0.730 | -19.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.06 | 16.48 % | |
| R2 | 1.01 | 10.99 % | ||
| R1 | 0.96 | 5.49 % | ||
| Current price | 0.91 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
002621 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2019 | Jun 14, 2019 | Jun 14, 2019 | ¥0.0084 | 0.0927% |
| 2 | May 24, 2016 | May 24, 2016 | May 24, 2016 | ¥0.0168 | 0.493% |
| 3 | May 19, 2015 | May 19, 2015 | May 19, 2015 | ¥0.0168 | 0.400% |
| 4 | May 19, 2014 | May 19, 2014 | May 19, 2014 | ¥0.0075 | 0.434% |
| 5 | Apr 16, 2013 | Apr 16, 2013 | Apr 16, 2013 | ¥0.0093 | 0.666% |
FAQ
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