Tongyu Communication Inc Stock Forecast
Tongyu Communication Inc stock upgraded to Hold/Accumulate.
(Updated on May 31, 2024)
The Tongyu Communication Inc stock price gained 2.14% on the last trading day (Friday, 31st May 2024), rising from ¥14.02 to ¥14.32. During the last trading day the stock fluctuated 4.32% from a day low at ¥13.90 to a day high of ¥14.50. The price has been going up and down for this period, and there has been a -1.38% 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, 2 million more shares were traded than the day before. In total, 10 million shares were bought and sold for approximately ¥140.63 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -10.57% during the next 3 months and, with a 90% probability hold a price between ¥10.76 and ¥14.84 at the end of this 3-month period.
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002792.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 3.02%. Further rise is indicated until a new top pivot has been found. 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 Tongyu Communication Inc 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 ¥14.38 and ¥14.69. 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 Tongyu Communication Inc stock
Tongyu Communication Inc finds support from accumulated volume at ¥14.31 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 ¥0.600 between high and low, or 4.32%. For the last week, the stock has had daily average volatility of 5.74%.
Our recommended stop-loss: ¥13.46 (-6.00%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (002792.SZ) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Tongyu Communication Inc to open at ¥14.24, and during the day (based on 14 day Average True Range), to move between ¥13.45 and ¥15.19, which gives a possible trading interval of +/-¥0.87 (+/-6.05%) up or down from last closing price. If Tongyu Communication Inc takes out the full calculated possible swing range there will be an estimated 12.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥14.31 (0.07%) than the resistance at ¥15.62 (9.08%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Tongyu Communication Inc stock A Buy?
Tongyu Communication Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.505 Hold/Accumulate Upgraded
Predicted Opening Price for Tongyu Communication Inc of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| ¥14.24 ( 0.559%) | ¥14.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002792.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.84 | 3.63 % | |
| R2 | 14.61 | 2.03 % | ||
| R1 | 14.47 | 1.04 % | ||
| Current price: | 14.32 | |||
| Support | S1 | 14.01 | -2.16 % | |
| S2 | 13.87 | -3.15 % | ||
| S3 | 13.64 | -4.75 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.83 | 24.51 % | |
| R2 | 17.44 | 21.79 % | ||
| R1 | 15.62 | 9.08 % | ||
| Current price | 14.32 | |||
| Support | S1 | 14.31 | -0.0698% | |
| S2 | 13.85 | -3.28% | ||
| S3 | 13.01 | -9.15% |
002792 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 07, 2023 | Jul 07, 2023 | Jul 07, 2023 | ¥0.100 | 0.604% |
| 2 | Jun 07, 2022 | Jun 07, 2022 | Jun 07, 2022 | ¥0.0200 | 0.165% |
| 3 | May 27, 2021 | May 27, 2021 | May 27, 2021 | ¥0.300 | 1.74% |
| 4 | Jun 19, 2020 | Jun 19, 2020 | Jun 19, 2020 | ¥0.0200 | 0.0804% |
| 5 | Jun 18, 2019 | Jun 18, 2019 | Jun 18, 2019 | ¥0.0267 | 0.129% |
FAQ
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