Suntak Technology Co Ltd Stock Forecast
Green day on Tuesday for Suntak Technology Co Ltd
(Updated on May 07, 2024)
The Suntak Technology Co Ltd stock price gained 0.232% on the last trading day (Tuesday, 7th May 2024), rising from ¥8.62 to ¥8.64. During the last trading day the stock fluctuated 3.29% from a day low at ¥8.50 to a day high of ¥8.78. The price has risen in 6 of the last 10 days and is up by 9.64% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 8 million shares were bought and sold for approximately ¥70.75 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.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Suntak Technology Co Ltd stock with a 90% probability to be traded between ¥7.33 and ¥8.96 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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002815.SZ Signals & Forecast
Mostly positive signals in the chart today. The Suntak Technology Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥8.34 and ¥8.43. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 15.35%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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.
Support, Risk & Stop-loss for Suntak Technology Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥8.09 and ¥7.88. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Suntak Technology Co Ltd finds support just below today's level at ¥8.09. If this is broken, then the next support from accumulated volume will be at ¥7.88 and ¥7.75.
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 ¥0.280 between high and low, or 3.29%. For the last week, the stock has had daily average volatility of 4.70%.
Our recommended stop-loss: ¥8.35 (-3.34%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (002815.SZ) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Suntak Technology Co Ltd to open at ¥8.64, and during the day (based on 14 day Average True Range), to move between ¥8.25 and ¥9.03, which gives a possible trading interval of +/-¥0.385 (+/-4.46%) up or down from last closing price. If Suntak Technology Co Ltd takes out the full calculated possible swing range there will be an estimated 8.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥8.86 (2.55%) than the support at ¥8.09 (6.37%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Suntak Technology Co Ltd will release earnings BMO on Thursday, May 09, 2024. We will update the financials statements for Suntak Technology Co Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.06% in the first trading day after earnings release.
Is Suntak Technology Co Ltd stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Suntak Technology Co Ltd stock to perform well in the short-term period.
Current score: 1.609 Buy Candidate Unchanged
Predicted Opening Price for Suntak Technology Co Ltd of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| ¥8.64 ( 0%) | ¥8.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002815.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.92 | 3.24 % | |
| R2 | 8.81 | 2.00 % | ||
| R1 | 8.75 | 1.24 % | ||
| Current price: | 8.64 | |||
| Support | S1 | 8.53 | -1.24 % | |
| S2 | 8.47 | -2.00 % | ||
| S3 | 8.36 | -3.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.21 | 6.60 % | |
| R2 | 8.93 | 3.36 % | ||
| R1 | 8.86 | 2.55 % | ||
| Current price | 8.64 | |||
| Support | S1 | 8.09 | -6.37% | |
| S2 | 7.88 | -8.80% | ||
| S3 | 7.75 | -10.30% |
002815 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 19, 2023 | May 19, 2023 | May 19, 2023 | ¥0.290 | 2.47% |
| 2 | May 20, 2022 | May 20, 2022 | May 20, 2022 | ¥0.310 | 2.73% |
| 3 | May 20, 2021 | May 20, 2021 | May 20, 2021 | ¥0.250 | 2.23% |
| 4 | Jun 03, 2020 | Jun 03, 2020 | Jun 03, 2020 | ¥0.300 | 1.55% |
| 5 | Apr 23, 2019 | Apr 23, 2019 | Apr 23, 2019 | ¥0.340 | 2.03% |
FAQ
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