Guangdong Tonze Electric Co Ltd Stock Forecast
A very red day for Guangdong Tonze Electric Co Ltd stock price after a -7.70% fall in the Tuesday trading session
(Updated on Apr 30, 2024)
The Guangdong Tonze Electric Co Ltd stock price fell by -7.70% on the last day (Tuesday, 30th Apr 2024) from ¥9.87 to ¥9.11. During the last trading day the stock fluctuated 8.49% from a day low at ¥9.07 to a day high of ¥9.84. The price has been going up and down for this period, and there has been a 0.66% gain for the last 2 weeks. Volume has increased on the last day by 6 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 12 million shares were bought and sold for approximately ¥109.90 million.
Given the current short-term trend, the stock is expected to rise 31.43% during the next 3 months and, with a 90% probability hold a price between ¥11.97 and ¥15.87 at the end of this 3-month period.
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002759.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Guangdong Tonze Electric 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 ¥9.30 and ¥10.01. 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 09, 2024, and so far it has fallen -19.59%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Guangdong Tonze Electric Co Ltd stock
Guangdong Tonze Electric Co Ltd finds support from accumulated volume at ¥9.05 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 ¥0.770 between high and low, or 8.49%. For the last week, the stock has had daily average volatility of 5.86%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002759.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Guangdong Tonze Electric Co Ltd to open at ¥9.34, and during the day (based on 14 day Average True Range), to move between ¥8.35 and ¥9.87, which gives a possible trading interval of +/-¥0.760 (+/-8.34%) up or down from last closing price. If Guangdong Tonze Electric Co Ltd takes out the full calculated possible swing range there will be an estimated 16.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥9.05 (0.66%) than the resistance at ¥9.58 (5.16%), 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 Tonze Electric Co Ltd stock A Buy?
The Guangdong Tonze Electric Co Ltd stock holds several negative signals and despite the positive trend, we believe Guangdong Tonze Electric Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.978 Sell Candidate Unchanged
Predicted Opening Price for Guangdong Tonze Electric Co Ltd of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥9.34 ( 2.52%) | ¥9.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002759.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.11 | 10.98 % | |
| R2 | 9.82 | 7.75 % | ||
| R1 | 9.63 | 5.75 % | ||
| Current price: | 9.11 | |||
| Support | S1 | 9.05 | -0.704 % | |
| S2 | 8.86 | -2.70 % | ||
| S3 | 8.57 | -5.93 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.43 | 14.49 % | |
| R2 | 9.90 | 8.67 % | ||
| R1 | 9.58 | 5.16 % | ||
| Current price | 9.11 | |||
| Support | S1 | 9.05 | -0.659% | |
| S2 | 7.77 | -14.71% | ||
| S3 | 7.39 | -18.88% |
002759 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 12, 2023 | May 12, 2023 | May 12, 2023 | ¥0.270 | 1.88% |
| 2 | Mar 29, 2022 | Mar 29, 2022 | Mar 29, 2022 | ¥0.380 | 1.36% |
| 3 | May 11, 2020 | May 11, 2020 | May 11, 2020 | ¥0.0400 | 0.587% |
| 4 | May 30, 2018 | May 30, 2018 | May 30, 2018 | ¥0.0500 | 0.491% |
| 5 | Jul 05, 2017 | Jul 05, 2017 | Jul 05, 2017 | ¥0.0300 | 0.112% |
FAQ
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