East Money Information Co., Ltd. Stock Forecast
Weaker technical forecast for East Money Information Co., Ltd. as stock downgraded to Hold/Accumulate.
(Updated on Apr 30, 2024)
The East Money Information Co., Ltd. stock price fell by -1.51% on the last day (Tuesday, 30th Apr 2024) from ¥13.25 to ¥13.05. During the last trading day the stock fluctuated 5.06% from a day low at ¥12.65 to a day high of ¥13.29. The price has risen in 6 of the last 10 days and is up by 6.62% 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 -216 million shares and in total, 207 million shares were bought and sold for approximately ¥2.70 billion.
The stock lies in the middle of a 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 -6.18% during the next 3 months and, with a 90% probability hold a price between ¥11.18 and ¥12.59 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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300059.SZ Signals & Forecast
The East Money Information Co., Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥12.72 and ¥12.98. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -1.51%. 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 East Money Information Co., Ltd. stock
East Money Information Co., Ltd. finds support from accumulated volume at ¥12.53 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ¥0.640 (5.06%) between high and low. For the last week, the stock has had daily average volatility of 4.06%.
Our recommended stop-loss: ¥12.48 (-4.33%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (300059.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect East Money Information Co., Ltd. to open at ¥13.00, and during the day (based on 14 day Average True Range), to move between ¥12.63 and ¥13.47, which gives a possible trading interval of +/-¥0.416 (+/-3.19%) up or down from last closing price. If East Money Information Co., Ltd. takes out the full calculated possible swing range there will be an estimated 6.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥13.12 (0.54%) than the support at ¥12.53 (3.98%), 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 East Money Information Co., Ltd. stock A Buy?
East Money Information Co., Ltd. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.
Current score: -0.439 Hold/Accumulate Downgraded
Predicted Opening Price for East Money Information Co., Ltd. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥13.00 ( 0.409%) | ¥13.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300059.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.64 | 4.50 % | |
| R2 | 13.39 | 2.62 % | ||
| R1 | 13.24 | 1.46 % | ||
| Current price: | 13.05 | |||
| Support | S1 | 12.75 | -2.28 % | |
| S2 | 12.60 | -3.44 % | ||
| S3 | 12.36 | -5.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.73 | 5.21 % | |
| R2 | 13.64 | 4.52 % | ||
| R1 | 13.12 | 0.536 % | ||
| Current price | 13.05 | |||
| Support | S1 | 12.53 | -3.98% | |
| S2 | 12.45 | -4.60% | ||
| S3 | 12.33 | -5.52% |
300059 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 18, 2023 | Apr 18, 2023 | Apr 18, 2023 | ¥0.0700 | 0.388% |
| 2 | Apr 20, 2022 | Apr 20, 2022 | Apr 20, 2022 | ¥0.0667 | 0.323% |
| 3 | May 27, 2021 | May 27, 2021 | May 27, 2021 | ¥0.0347 | 0.133% |
| 4 | May 21, 2020 | May 21, 2020 | May 21, 2020 | ¥0.0145 | 0.142% |
| 5 | May 22, 2019 | May 22, 2019 | May 22, 2019 | ¥0.0096 | 0.132% |
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