Gettop Acoustic Co Ltd Stock Forecast
Gettop Acoustic Co Ltd stock downgraded to Sell Candidate
(Updated on May 08, 2024)
The Gettop Acoustic Co Ltd stock price fell by -2.33% on the last day (Wednesday, 8th May 2024) from ¥10.72 to ¥10.47. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.65% from a day low at ¥10.42 to a day high of ¥10.80. The price has risen in 6 of the last 10 days and is up by 6.51% over the past 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 -1 million shares and in total, 6 million shares were bought and sold for approximately ¥59.85 million.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.91% during the next 3 months and, with a 90% probability hold a price between ¥9.56 and ¥12.55 at the end of this 3-month period.
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002655.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 Gettop Acoustic Co Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ¥10.59 and ¥10.50. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -3.59%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Gettop Acoustic Co Ltd stock
Gettop Acoustic Co Ltd finds support from accumulated volume at ¥10.35 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 ¥0.380 between high and low, or 3.65%. For the last week, the stock has had daily average volatility of 4.57%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002655.SZ) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Gettop Acoustic Co Ltd to open at ¥10.56, and during the day (based on 14 day Average True Range), to move between ¥9.75 and ¥11.19, which gives a possible trading interval of +/-¥0.716 (+/-6.84%) up or down from last closing price. If Gettop Acoustic Co Ltd takes out the full calculated possible swing range there will be an estimated 13.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥10.57 (0.96%) than the support at ¥10.35 (1.15%), 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
Gettop Acoustic Co Ltd will release earnings BMO on Monday, May 13, 2024. We will update the financials statements for Gettop Acoustic Co Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.43% in the first trading day after earnings release.
Is Gettop Acoustic Co Ltd stock A Buy?
The Gettop Acoustic Co Ltd stock holds several negative signals and despite the positive trend, we believe Gettop Acoustic Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we 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: -4.414 Sell Candidate Downgraded
Predicted Opening Price for Gettop Acoustic Co Ltd of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| ¥10.56 ( 0.89%) | ¥10.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002655.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.94 | 4.52 % | |
| R2 | 10.80 | 3.13 % | ||
| R1 | 10.71 | 2.28 % | ||
| Current price: | 10.47 | |||
| Support | S1 | 10.42 | -0.495 % | |
| S2 | 10.33 | -1.35 % | ||
| S3 | 10.18 | -2.74 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.33 | 8.21 % | |
| R2 | 11.03 | 5.35 % | ||
| R1 | 10.57 | 0.96 % | ||
| Current price | 10.47 | |||
| Support | S1 | 10.35 | -1.15% | |
| S2 | 10.32 | -1.43% | ||
| S3 | 9.83 | -6.11% |
002655 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 11, 2023 | Jul 11, 2023 | Jul 11, 2023 | ¥0.0400 | 0.312% |
| 2 | May 16, 2017 | May 16, 2017 | May 16, 2017 | ¥0.0110 | 0.124% |
| 3 | May 13, 2016 | May 13, 2016 | May 13, 2016 | ¥0.0110 | 0.0744% |
| 4 | Jul 02, 2015 | Jul 02, 2015 | Jul 02, 2015 | ¥0.0140 | 0.0904% |
| 5 | Jun 10, 2014 | Jun 10, 2014 | Jun 10, 2014 | ¥0.0120 | 0.145% |
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