Qingdao TGOOD Electric Co.,Ltd. Stock Forecast
Weaker technical forecast for Qingdao TGOOD Electric Co.,Ltd. as stock downgraded to Sell Candidate.
(Updated on May 17, 2024)
The Qingdao TGOOD Electric Co.,Ltd. stock price gained 1.13% on the last trading day (Friday, 17th May 2024), rising from ¥20.42 to ¥20.65. During the last trading day the stock fluctuated 2.16% from a day low at ¥20.35 to a day high of ¥20.79. The price has been going up and down for this period, and there has been a 6.44% gain for the last 2 weeks. Volume fell on the last day by -1 million shares and in total, 10 million shares were bought and sold for approximately ¥209.72 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 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 2.45% during the next 3 months and, with a 90% probability hold a price between ¥19.24 and ¥21.71 at the end of this 3-month period.
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300001.SZ Signals & Forecast
The Qingdao TGOOD Electric Co.,Ltd. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ¥20.77. On a fall, the stock will find some support from the long-term average at approximately ¥19.74. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. 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 Monday, May 13, 2024, and so far it has fallen -2.41%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Qingdao TGOOD Electric Co.,Ltd. stock
Qingdao TGOOD Electric Co.,Ltd. finds support from accumulated volume at ¥20.63 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 ¥0.440 between high and low, or 2.16%. For the last week, the stock has had daily average volatility of 2.74%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (300001.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Qingdao TGOOD Electric Co.,Ltd. to open at ¥20.60, and during the day (based on 14 day Average True Range), to move between ¥19.94 and ¥21.36, which gives a possible trading interval of +/-¥0.706 (+/-3.42%) up or down from last closing price. If Qingdao TGOOD Electric Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 6.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥20.63 (0.10%) than the resistance at ¥20.74 (0.44%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Qingdao TGOOD Electric Co.,Ltd. stock A Buy?
Qingdao TGOOD Electric 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -1.142 Sell Candidate Downgraded
Predicted Opening Price for Qingdao TGOOD Electric Co.,Ltd. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥20.60 ( 0.258%) | ¥20.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300001.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.04 | 1.87 % | |
| R2 | 20.87 | 1.06 % | ||
| R1 | 20.76 | 0.556 % | ||
| Current price: | 20.65 | |||
| Support | S1 | 20.43 | -1.07 % | |
| S2 | 20.32 | -1.58 % | ||
| S3 | 20.16 | -2.39 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.16 | 2.47 % | |
| R2 | 21.15 | 2.42 % | ||
| R1 | 20.74 | 0.436 % | ||
| Current price | 20.65 | |||
| Support | S1 | 20.63 | -0.0969% | |
| S2 | 20.44 | -1.02% | ||
| S3 | 19.95 | -3.39% |
300001 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 20, 2023 | Jul 20, 2023 | Jul 20, 2023 | ¥0.0500 | 0.255% |
| 2 | Apr 18, 2022 | Apr 18, 2022 | Apr 18, 2022 | ¥0.0200 | 0.121% |
| 3 | Jun 16, 2021 | Jun 16, 2021 | Jun 16, 2021 | ¥0.0500 | 0.201% |
| 4 | Jul 14, 2020 | Jul 14, 2020 | Jul 14, 2020 | ¥0.0200 | 0.0844% |
| 5 | Jul 29, 2019 | Jul 29, 2019 | Jul 29, 2019 | ¥0.0100 | 0.0519% |
FAQ
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