Dongguan Mentech Optcl & Mgntc Co Ltd Stock Forecast
Dongguan Mentech Optcl & Mgntc Co Ltd stock price down 3.09% on Wednesday
(Updated on May 08, 2024)
The Dongguan Mentech Optcl & Mgntc Co Ltd stock price fell by -3.09% on the last day (Wednesday, 8th May 2024) from ¥24.89 to ¥24.12. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 5.07% from a day low at ¥24.04 to a day high of ¥25.26. The price has fallen in 6 of the last 10 days but is still up by 6.35% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -4 million shares and in total, 12 million shares were bought and sold for approximately ¥281.07 million.
The stock lies in the middle of a very wide and weak 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 5.79% during the next 3 months and, with a 90% probability hold a price between ¥19.66 and ¥38.49 at the end of this 3-month period.
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002902.SZ Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Dongguan Mentech Optcl & Mgntc 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 ¥24.72 and ¥27.05. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 18, 2024, and so far it has fallen -31.48%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Dongguan Mentech Optcl & Mgntc Co Ltd stock
Dongguan Mentech Optcl & Mgntc Co Ltd finds support from accumulated volume at ¥23.51 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 ¥1.22 between high and low, or 5.07%. For the last week, the stock has had daily average volatility of 4.00%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002902.SZ) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Dongguan Mentech Optcl & Mgntc Co Ltd to open at ¥24.47, and during the day (based on 14 day Average True Range), to move between ¥22.14 and ¥26.10, which gives a possible trading interval of +/-¥1.98 (+/-8.22%) up or down from last closing price. If Dongguan Mentech Optcl & Mgntc Co Ltd takes out the full calculated possible swing range there will be an estimated 16.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥23.51 (2.53%) than the resistance at ¥25.15 (4.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Dongguan Mentech Optcl & Mgntc Co Ltd stock A Buy?
The Dongguan Mentech Optcl & Mgntc Co Ltd stock holds several negative signals and despite the positive trend, we believe Dongguan Mentech Optcl & Mgntc Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.093 Sell Candidate Unchanged
Predicted Opening Price for Dongguan Mentech Optcl & Mgntc Co Ltd of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| ¥24.47 ( 1.46%) | ¥24.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002902.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.69 | 6.52 % | |
| R2 | 25.23 | 4.59 % | ||
| R1 | 24.94 | 3.40 % | ||
| Current price: | 24.12 | |||
| Support | S1 | 24.01 | -0.467 % | |
| S2 | 23.72 | -1.66 % | ||
| S3 | 23.25 | -3.59 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.70 | 23.13 % | |
| R2 | 28.70 | 18.99 % | ||
| R1 | 25.15 | 4.27 % | ||
| Current price | 24.12 | |||
| Support | S1 | 23.51 | -2.53% | |
| S2 | 23.50 | -2.57% | ||
| S3 | 21.99 | -8.83% |
002902 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2023 | Jun 14, 2023 | Jun 14, 2023 | ¥0.0330 | 0.101% |
| 2 | May 22, 2020 | May 22, 2020 | May 22, 2020 | ¥0.0500 | 0.287% |
| 3 | Jun 12, 2019 | Jun 12, 2019 | Jun 12, 2019 | ¥0.0333 | 0.116% |
| 4 | May 28, 2018 | May 28, 2018 | May 28, 2018 | ¥0.100 | 0.418% |
FAQ
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