Guangzhou Tinci Materials Technlgy Stock Forecast
Big movements in Guangzhou Tinci Materials Technlgy stock price on Friday moving 10.21% between high and low
(Updated on Apr 26, 2024)
The Guangzhou Tinci Materials Technlgy stock price gained 2.96% on the last trading day (Friday, 26th Apr 2024), rising from ¥20.26 to ¥20.86. During the last trading day the stock fluctuated 10.21% from a day low at ¥19.98 to a day high of ¥22.02. The price has been going up and down for this period, and there has been a -13.66% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 million more shares were traded than the day before. In total, 38 million shares were bought and sold for approximately ¥783.05 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥20.35 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 24.85% during the next 3 months and, with a 90% probability hold a price between ¥25.41 and ¥33.15 at the end of this 3-month period.
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002709.SZ Signals & Forecast
Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Guangzhou Tinci Materials Technlgy 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 ¥20.90 and ¥22.25. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -18.36%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Guangzhou Tinci Materials Technlgy stock
Guangzhou Tinci Materials Technlgy finds support from accumulated volume at ¥20.64 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ¥2.04 between high and low, or 10.21%. For the last week, the stock has had daily average volatility of 9.53%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002709.SZ) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Guangzhou Tinci Materials Technlgy to open at ¥20.95, and during the day (based on 14 day Average True Range), to move between ¥18.81 and ¥22.91, which gives a possible trading interval of +/-¥2.05 (+/-9.85%) up or down from last closing price. If Guangzhou Tinci Materials Technlgy takes out the full calculated possible swing range there will be an estimated 19.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥20.64 (1.05%) than the resistance at ¥22.69 (8.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Guangzhou Tinci Materials Technlgy stock A Buy?
The Guangzhou Tinci Materials Technlgy stock holds several negative signals and despite the positive trend, we believe Guangzhou Tinci Materials Technlgy will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.762 Sell Candidate Unchanged
Predicted Opening Price for Guangzhou Tinci Materials Technlgy of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ¥20.95 ( 0.447%) | ¥20.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002709.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.99 | 10.23 % | |
| R2 | 22.21 | 6.49 % | ||
| R1 | 21.73 | 4.18 % | ||
| Current price: | 20.86 | |||
| Support | S1 | 20.17 | -3.29 % | |
| S2 | 19.69 | -5.60 % | ||
| S3 | 18.91 | -9.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.45 | 17.21 % | |
| R2 | 23.89 | 14.53 % | ||
| R1 | 22.69 | 8.77 % | ||
| Current price | 20.86 | |||
| Support | S1 | 20.64 | -1.05% | |
| S2 | 20.18 | -3.26% | ||
| S3 | 19.48 | -6.62% |
002709 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 29, 2024 | Apr 29, 2024 | Apr 29, 2024 | ¥0.300 | 1.44% |
| 2 | May 16, 2023 | May 16, 2023 | May 16, 2023 | ¥0.600 | 1.32% |
| 3 | May 16, 2022 | May 16, 2022 | May 16, 2022 | ¥0.500 | 1.33% |
| 4 | Apr 27, 2021 | Apr 27, 2021 | Apr 27, 2021 | ¥0.0588 | 0.188% |
| 5 | Jun 23, 2020 | Jun 23, 2020 | Jun 23, 2020 | ¥0.0147 | 0.148% |
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