Chang Lan Electric Technology Co Ltd Stock Forecast
Chang Lan Electric Technology Co Ltd stock price ended at ¥13.32 on Wednesday, after losing 0%.
(Updated on Apr 24, 2024)
No changes to the price of Chang Lan Electric Technology Co Ltd stock on the last trading day (Wednesday, 24th Apr 2024). During the last trading day the stock fluctuated 5.54% from a day low at ¥13.18 to a day high of ¥13.91. The price has risen in 5 of the last 10 days but is still down by -3.9% for this period.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 12.44% during the next 3 months and, with a 90% probability hold a price between ¥12.91 and ¥17.43 at the end of this 3-month period.
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002879.SZ Signals & Forecast
There are mixed signals in the stock today. The Chang Lan Electric Technology Co Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ¥13.82. On a fall, the stock will find some support from the short-term average at ¥13.31. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, March 15, 2024, and so far it has fallen -9.57%. 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). The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely.
Support, Risk & Stop-loss for Chang Lan Electric Technology Co Ltd stock
Chang Lan Electric Technology Co Ltd finds support from accumulated volume at ¥13.19 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 ¥0.730 between high and low, or 5.54%. For the last week, the stock has had daily average volatility of 6.62%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002879.SZ) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Chang Lan Electric Technology Co Ltd to open at ¥13.47, and during the day (based on 14 day Average True Range), to move between ¥12.59 and ¥14.05, which gives a possible trading interval of +/-¥0.731 (+/-5.49%) up or down from last closing price. If Chang Lan Electric Technology Co Ltd takes out the full calculated possible swing range there will be an estimated 10.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥13.19 (0.98%) than the resistance at ¥13.97 (4.88%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Chang Lan Electric Technology Co Ltd stock A Buy?
Chang Lan Electric Technology 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.
Current score: -4.166 Sell Candidate Unchanged
Predicted Opening Price for Chang Lan Electric Technology Co Ltd of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| ¥13.47 ( 1.13%) | ¥13.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002879.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.20 | 6.61 % | |
| R2 | 13.92 | 4.51 % | ||
| R1 | 13.75 | 3.22 % | ||
| Current price: | 13.32 | |||
| Support | S1 | 13.19 | -0.97 % | |
| S2 | 13.02 | -2.26 % | ||
| S3 | 12.74 | -4.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.73 | 10.59 % | |
| R2 | 14.06 | 5.56 % | ||
| R1 | 13.97 | 4.88 % | ||
| Current price | 13.32 | |||
| Support | S1 | 13.19 | -0.98% | |
| S2 | 10.24 | -23.12% | ||
| S3 | 10.00 | -24.92% |
002879 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 23, 2024 | Apr 23, 2024 | Apr 23, 2024 | ¥0.250 | 1.88% |
| 2 | May 08, 2023 | May 08, 2023 | May 08, 2023 | ¥0.150 | 1.07% |
| 3 | Apr 29, 2022 | Apr 29, 2022 | Apr 29, 2022 | ¥0.220 | 1.78% |
| 4 | May 28, 2021 | May 28, 2021 | May 28, 2021 | ¥0.230 | 1.50% |
| 5 | Apr 14, 2020 | Apr 14, 2020 | Apr 14, 2020 | ¥0.210 | 1.29% |
FAQ
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