Kemen Noodle Manufacturing Co.,Ltd Stock Forecast
Green day on Friday for Kemen Noodle Manufacturing Co.,Ltd stock after gaining 0.533%
(Updated on Jun 21, 2024)
The Kemen Noodle Manufacturing Co.,Ltd stock price gained 0.533% on the last trading day (Friday, 21st Jun 2024), rising from ¥7.50 to ¥7.54. During the last trading day the stock fluctuated 5.51% from a day low at ¥7.44 to a day high of ¥7.85. The price has risen in 6 of the last 10 days but is still down by -6.1% for this period. Volume fell on the last day by -946 thousand shares and in total, 2 million shares were bought and sold for approximately ¥12.27 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 lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥7.25 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 7.99% during the next 3 months and, with a 90% probability hold a price between ¥7.83 and ¥9.97 at the end of this 3-month period.
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002661.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 0.533%. Further rise is indicated until a new top pivot has been found. 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 Kemen Noodle Manufacturing 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 ¥7.73 and ¥8.28. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Kemen Noodle Manufacturing Co.,Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥7.15 and ¥7.04. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Kemen Noodle Manufacturing Co.,Ltd finds support just below today's level at ¥7.15. If this is broken, then the next support from accumulated volume will be at ¥7.04 and ¥6.74.
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 ¥0.410 between high and low, or 5.51%. For the last week, the stock has had daily average volatility of 3.71%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002661.SZ) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Kemen Noodle Manufacturing Co.,Ltd to open at ¥7.61, and during the day (based on 14 day Average True Range), to move between ¥7.15 and ¥7.93, which gives a possible trading interval of +/-¥0.388 (+/-5.14%) up or down from last closing price. If Kemen Noodle Manufacturing Co.,Ltd takes out the full calculated possible swing range there will be an estimated 10.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥7.15 (5.17%) than the resistance at ¥7.99 (5.97%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Kemen Noodle Manufacturing Co.,Ltd stock A Buy?
The Kemen Noodle Manufacturing Co.,Ltd stock holds several negative signals and despite the positive trend, we believe Kemen Noodle Manufacturing Co.,Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.634 Sell Candidate Unchanged
Predicted Opening Price for Kemen Noodle Manufacturing Co.,Ltd of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ¥7.61 ( 0.93%) | ¥7.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002661.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.02 | 6.37% |
| R2 | 7.86 | 4.29% |
| R1 | 7.77 | 3.01% |
| Price | 7.54 | |
| S1 | 7.45 | -1.15% |
| S2 | 7.36 | -2.43% |
| S3 | 7.20 | -4.51% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.93 | 18.44% |
| R2 | 8.58 | 13.79% |
| R1 | 7.99 | 5.97% |
| Price | 7.54 | |
| S1 | 7.15 | -5.17% |
| S2 | 7.04 | -6.63% |
| S3 | 6.74 | -10.61% |
002661 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 05, 2023 | Jun 05, 2023 | Jun 05, 2023 | ¥0.200 | 1.77% |
| 2 | Jun 17, 2022 | Jun 17, 2022 | Jun 17, 2022 | ¥0.200 | 1.80% |
| 3 | May 26, 2021 | May 26, 2021 | May 26, 2021 | ¥0.300 | 2.08% |
| 4 | May 21, 2020 | May 21, 2020 | May 21, 2020 | ¥0.250 | 1.38% |
| 5 | Jun 06, 2019 | Jun 06, 2019 | Jun 06, 2019 | ¥0.250 | 1.89% |
FAQ
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