Shanghai Conant Optical Co., Ltd. Stock Forecast
Stronger technical forecast for Shanghai Conant Optical Co., Ltd. stock price after Wednesday trading.
(Updated on Jun 26, 2024)
The Shanghai Conant Optical Co., Ltd. stock price gained 2.65% on the last trading day (Wednesday, 26th Jun 2024), rising from HK$12.06 to HK$12.38. During the last trading day the stock fluctuated 4.03% from a day low at HK$11.90 to a day high of HK$12.38. The price has risen in 7 of the last 10 days and is up by 8.79% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 59 thousand more shares were traded than the day before. In total, 709 thousand shares were bought and sold for approximately HK$8.78 million.
The stock lies in the middle of a 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 57.06% during the next 3 months and, with a 90% probability hold a price between HK$16.89 and HK$20.26 at the end of this 3-month period.
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2276.HK Signals & Forecast
The Shanghai Conant Optical Co., Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$12.33 and HK$10.49. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Friday, June 21, 2024, and so far it has fallen -2.21%. 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).
Support, Risk & Stop-loss for Shanghai Conant Optical Co., Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$10.90 and HK$9.85. 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, Shanghai Conant Optical Co., Ltd. finds support just below today's level at HK$10.90. If this is broken, then the next support from accumulated volume will be at HK$9.85 and HK$9.42.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.480 between high and low, or 4.03%. For the last week, the stock has had daily average volatility of 3.82%.
Our recommended stop-loss: HK$11.88 (-4.04%) (This stock has high daily movements and this gives high risk. The RSI14 is 77 and this increases the risk substantially. There is a sell signal from a pivot top found 33 days ago.)
Trading Expectations (2276.HK) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Shanghai Conant Optical Co., Ltd. to open at HK$12.22, and during the day (based on 14 day Average True Range), to move between HK$11.94 and HK$12.82, which gives a possible trading interval of +/-HK$0.439 (+/-3.55%) up or down from last closing price. If Shanghai Conant Optical Co., Ltd. takes out the full calculated possible swing range there will be an estimated 7.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at HK$12.48 (0.81%) than the support at HK$10.90 (11.95%), 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 Shanghai Conant Optical Co., Ltd. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Shanghai Conant Optical Co., Ltd. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.879 Buy Candidate Upgraded
Predicted Opening Price for Shanghai Conant Optical Co., Ltd. of Thursday, June 27, 2024
Fair opening price June 27, 2024 | Current price |
---|---|
HK$12.22 ( 1.29%) | HK$12.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2276.HK
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 12.70 | 2.58% |
R2 | 12.52 | 1.10% |
R1 | 12.40 | 0.189% |
Price | 12.38 | |
S1 | 12.04 | -2.77% |
S2 | 11.92 | -3.69% |
S3 | 11.74 | -5.17% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 12.66 | 2.26% |
R2 | 12.52 | 1.13% |
R1 | 12.48 | 0.81% |
Price | 12.38 | |
S1 | 10.90 | -11.95% |
S2 | 9.85 | -20.44% |
S3 | 9.42 | -23.91% |
2276 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 12, 2024 | Jun 12, 2024 | Aug 02, 2024 | HK$0.216 | 1.72% |
2 | Jun 16, 2023 | Jun 16, 2023 | Aug 14, 2023 | HK$0.165 | 3.32% |
3 | Jun 16, 2022 | Jun 16, 2022 | Aug 12, 2022 | HK$0.0998 | 1.71% |
FAQ
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