RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of 002901.SZ
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Double Medical Technology Inc stock price ended at ¥29.50 on Thursday, after gaining 0.85%.
(Updated on Mar 28, 2024)

Sell candidate since Mar 27, 2024 Gain 0.85% PDF

The Double Medical Technology Inc stock price gained 0.85% on the last trading day (Thursday, 28th Mar 2024), rising from ¥29.25 to ¥29.50. During the last trading day the stock fluctuated 2.83% from a day low at ¥28.99 to a day high of ¥29.81. The price has been going up and down for this period, and there has been a -4.25% loss for the last 2 weeks. Volume fell on the last day by -63 thousand shares and in total, 877 thousand shares were bought and sold for approximately ¥25.87 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 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 -17.27% during the next 3 months and, with a 90% probability hold a price between ¥16.69 and ¥27.78 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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002901.SZ Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, February 05, 2024, and so far it has risen 21.85%. Further rise is indicated until a new top pivot has been found. 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 Double Medical Technology Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ¥30.55 and ¥29.86. 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 Double Medical Technology Inc stock

On the downside, the stock finds support just below today's level from accumulated volume at ¥27.94 and ¥27.20. 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, Double Medical Technology Inc finds support just below today's level at ¥27.94. If this is broken, then the next support from accumulated volume will be at ¥27.20 and ¥26.63.

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 ¥0.82 between high and low, or 2.83%. For the last week, the stock has had daily average volatility of 3.22%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (002901.SZ) For The Upcoming Trading Day Of Friday 29th

For the upcoming trading day on Friday, 29th we expect Double Medical Technology Inc to open at ¥29.43, and during the day (based on 14 day Average True Range), to move between ¥28.48 and ¥30.52, which gives a possible trading interval of +/-¥1.02 (+/-3.47%) up or down from last closing price. If Double Medical Technology Inc takes out the full calculated possible swing range there will be an estimated 6.93% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥29.64 (0.47%) than the support at ¥27.94 (5.29%), 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.

Is Double Medical Technology Inc stock A Buy?

Double Medical Technology Inc holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -2.055 Sell Candidate Unchanged

Predicted Opening Price for Double Medical Technology Inc of Friday, March 29, 2024

Fair opening price March 29, 2024 Current price
¥29.43 ( 0.226%) ¥29.50

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for 002901.SZ

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 30.25 2.55 %
R2 29.94 1.49 %
R1 29.75 0.84 %
Current price: 29.50
Support S1 29.12 -1.29 %
S2 28.93 -1.94 %
S3 28.61 -3.01 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 30.81 4.44 %
R2 29.95 1.53 %
R1 29.64 0.475 %
Current price 29.50
Support S1 27.94 -5.29%
S2 27.20 -7.80%
S3 26.63 -9.73%

002901 Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 May 09, 2022 May 09, 2022 May 09, 2022 ¥0.500 1.50%
2 Jul 01, 2021 Jul 01, 2021 Jul 01, 2021 ¥0.80 1.12%
3 Jul 13, 2020 Jul 13, 2020 Jul 13, 2020 ¥0.600 0.538%
4 Jun 18, 2019 Jun 18, 2019 Jun 18, 2019 ¥0.500 1.67%
5 Jun 15, 2018 Jun 15, 2018 Jun 15, 2018 ¥0.400 1.12%

FAQ

What is the symbol for Double Medical Technology Inc Stock and on which exchange is it traded?
The symbol for Double Medical Technology Inc is 002901.SZ and it is traded on the SZCE (Shenzhen Stock Exchange).

Should I buy or sell Double Medical Technology Inc Stock?
Double Medical Technology Inc holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

How to buy Double Medical Technology Inc Stock?
Double Medical Technology Inc Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Double Medical Technology Inc Stock.

What's the current price of Double Medical Technology Inc Stock?
As of the end of day on the 2024-03-28, the price of an Double Medical Technology Inc (002901.SZ) share was ¥29.50.

What is the 52-week high and low for Double Medical Technology Inc Stock?
The 52-week high for Double Medical Technology Inc Stock is ¥41.96 and the 52-week low is ¥23.04.

What is the market capitalization of Double Medical Technology Inc Stock?
As of the 2024-03-28, the market capitalization of Double Medical Technology Inc is 12.214B.
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About Double Medical Technology Inc

Double Medical Technology Double Medical Technology Inc. provides services, technologies, and devices in the areas of orthopedics, wound management, neurosurgery, and general surgery in China. It also exports its products to approximately 50 countries and regions, including European Union, Russia, South America, Australia, Southeast Asia, the Middle East, and South Africa. The company was formerly known as Xiamen Da Bo Ying Jing Medical Equipment Company Limited. Double M... 002901.SZ Profile

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