Guangdong Guanghua Sci-Tech Co Ltd Stock Forecast
Weaker technical forecast for Guangdong Guanghua Sci-Tech Co Ltd as stock downgraded to Sell Candidate.
(Updated on May 23, 2024)
The Guangdong Guanghua Sci-Tech Co Ltd stock price fell by -2.89% on the last day (Thursday, 23rd May 2024) from ¥11.41 to ¥11.08. During the last trading day the stock fluctuated 7.05% from a day low at ¥10.78 to a day high of ¥11.54. The price has been going up and down for this period, and there has been a -2.64% loss for the last 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 -2 million shares and in total, 9 million shares were bought and sold for approximately ¥96.30 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ¥11.30 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -16.05% during the next 3 months and, with a 90% probability hold a price between ¥7.35 and ¥9.49 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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002741.SZ Signals & Forecast
The Guangdong Guanghua Sci-Tech Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ¥11.05 and ¥10.98. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -5.70%. 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 Guangdong Guanghua Sci-Tech Co Ltd stock
Guangdong Guanghua Sci-Tech Co Ltd finds support from accumulated volume at ¥11.01 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 ¥0.760 between high and low, or 7.05%. For the last week, the stock has had daily average volatility of 6.95%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002741.SZ) For The Upcoming Trading Day Of Friday 24th
For the upcoming trading day on Friday, 24th we expect Guangdong Guanghua Sci-Tech Co Ltd to open at ¥11.13, and during the day (based on 14 day Average True Range), to move between ¥10.35 and ¥11.81, which gives a possible trading interval of +/-¥0.727 (+/-6.56%) up or down from last closing price. If Guangdong Guanghua Sci-Tech Co Ltd takes out the full calculated possible swing range there will be an estimated 13.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥11.01 (0.63%) than the resistance at ¥12.54 (13.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Guangdong Guanghua Sci-Tech Co Ltd stock A Buy?
Guangdong Guanghua Sci-Tech Co Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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: -1.904 Sell Candidate Downgraded
Predicted Opening Price for Guangdong Guanghua Sci-Tech Co Ltd of Friday, May 24, 2024
| Fair opening price May 24, 2024 | Current price |
|---|---|
| ¥11.13 ( 0.481%) | ¥11.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002741.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.89 | 7.34 % | |
| R2 | 11.60 | 4.72 % | ||
| R1 | 11.42 | 3.10 % | ||
| Current price: | 11.08 | |||
| Support | S1 | 10.84 | -2.14 % | |
| S2 | 10.66 | -3.76 % | ||
| S3 | 10.37 | -6.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.35 | 20.49 % | |
| R2 | 12.86 | 16.06 % | ||
| R1 | 12.54 | 13.18 % | ||
| Current price | 11.08 | |||
| Support | S1 | 11.01 | -0.632% | |
| S2 | 10.36 | -6.50% | ||
| S3 | 9.65 | -12.91% |
002741 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 10, 2022 | Jun 10, 2022 | Jun 10, 2022 | ¥0.0300 | 0.176% |
| 2 | Jun 13, 2019 | Jun 13, 2019 | Jun 13, 2019 | ¥0.0850 | 0.707% |
| 3 | Apr 25, 2018 | Apr 25, 2018 | Apr 25, 2018 | ¥0.100 | 0.537% |
| 4 | May 23, 2017 | May 23, 2017 | May 23, 2017 | ¥0.0500 | 0.379% |
| 5 | Nov 02, 2015 | Nov 02, 2015 | Nov 02, 2015 | ¥0.0667 | 0.411% |
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