Xiamen R&T Plumbing Technology Co Ltd Stock Forecast
Green day on Tuesday for Xiamen R&T Plumbing Technology Co Ltd stock after gaining 0.177%
(Updated on Jun 04, 2024)
The Xiamen R&T Plumbing Technology Co Ltd stock price gained 0.177% on the last trading day (Tuesday, 4th Jun 2024), rising from ¥11.30 to ¥11.32. During the last trading day the stock fluctuated 3.00% from a day low at ¥11.01 to a day high of ¥11.34. The price has fallen in 8 of the last 10 days and is down by -11.91% for this period. Volume fell on the last day by -222 thousand shares and in total, 3 million shares were bought and sold for approximately ¥29.26 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.
Given the current short-term trend, the stock is expected to rise 17.79% during the next 3 months and, with a 90% probability hold a price between ¥13.33 and ¥16.72 at the end of this 3-month period.
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002790.SZ Signals & Forecast
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 Xiamen R&T Plumbing Technology 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 ¥11.41 and ¥12.11. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -16.15%. 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 Xiamen R&T Plumbing Technology Co Ltd stock
Xiamen R&T Plumbing Technology Co Ltd finds support from accumulated volume at ¥11.10 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 ¥0.330 between high and low, or 3.00%. For the last week, the stock has had daily average volatility of 3.09%.
Xiamen R&T Plumbing Technology Co Ltd is oversold on RSI14 (1). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002790.SZ) For The Upcoming Trading Day Of Wednesday 5th
For the upcoming trading day on Wednesday, 5th we expect Xiamen R&T Plumbing Technology Co Ltd to open at ¥11.22, and during the day (based on 14 day Average True Range), to move between ¥10.68 and ¥11.96, which gives a possible trading interval of +/-¥0.640 (+/-5.65%) up or down from last closing price. If Xiamen R&T Plumbing Technology Co Ltd takes out the full calculated possible swing range there will be an estimated 11.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥11.10 (1.94%) than the resistance at ¥11.94 (5.48%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Xiamen R&T Plumbing Technology Co Ltd stock A Buy?
The Xiamen R&T Plumbing Technology Co Ltd stock holds several negative signals and despite the positive trend, we believe Xiamen R&T Plumbing Technology Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.725 Sell Candidate Unchanged
Predicted Opening Price for Xiamen R&T Plumbing Technology Co Ltd of Wednesday, June 5, 2024
| Fair opening price June 5, 2024 | Current price |
|---|---|
| ¥11.22 ( 0.85%) | ¥11.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002790.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.55 | 2.06 % | |
| R2 | 11.43 | 0.95 % | ||
| R1 | 11.35 | 0.260 % | ||
| Current price: | 11.32 | |||
| Support | S1 | 11.10 | -1.97 % | |
| S2 | 11.02 | -2.66 % | ||
| S3 | 10.89 | -3.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.50 | 19.26 % | |
| R2 | 13.31 | 17.58 % | ||
| R1 | 11.94 | 5.48 % | ||
| Current price | 11.32 | |||
| Support | S1 | 11.10 | -1.94% | |
| S2 | 10.96 | -3.18% | ||
| S3 | 10.83 | -4.33% |
002790 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 01, 2023 | Jun 01, 2023 | Jun 01, 2023 | ¥0.200 | 2.41% |
| 2 | May 30, 2022 | May 30, 2022 | May 30, 2022 | ¥0.150 | 2.37% |
| 3 | Jun 30, 2021 | Jun 30, 2021 | Jun 30, 2021 | ¥0.150 | 2.75% |
| 4 | Jun 23, 2020 | Jun 23, 2020 | Jun 23, 2020 | ¥0.200 | 3.23% |
| 5 | May 30, 2019 | May 30, 2019 | May 30, 2019 | ¥0.188 | 2.57% |
FAQ
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