AVCON Information Technology Co., Ltd. Stock Forecast
Volatile ride for AVCON Information Technology Co., Ltd. stock price on Friday moving between ¥3.83 and ¥4.33
(Updated on May 17, 2024)
The AVCON Information Technology Co., Ltd. stock price gained 11.41% on the last trading day (Friday, 17th May 2024), rising from ¥3.77 to ¥4.20. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 13.05% from a day low at ¥3.83 to a day high of ¥4.33. The price has risen in 6 of the last 10 days and is up by 11.11% 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, 48 million more shares were traded than the day before. In total, 75 million shares were bought and sold for approximately ¥316.38 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 6.87% during the next 3 months and, with a 90% probability hold a price between ¥3.46 and ¥5.18 at the end of this 3-month period.
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300074.SZ Signals & Forecast
The AVCON Information Technology 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 ¥3.81 and ¥3.97. 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). 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 Thursday, April 25, 2024, and so far it has fallen -2.10%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for AVCON Information Technology Co., Ltd. stock
AVCON Information Technology Co., Ltd. finds support from accumulated volume at ¥4.18 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ¥0.500 between high and low, or 13.05%. For the last week, the stock has had daily average volatility of 9.89%.
Our recommended stop-loss: ¥4.02 (-4.27%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (300074.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect AVCON Information Technology Co., Ltd. to open at ¥4.12, and during the day (based on 14 day Average True Range), to move between ¥3.77 and ¥4.63, which gives a possible trading interval of +/-¥0.427 (+/-10.16%) up or down from last closing price. If AVCON Information Technology Co., Ltd. takes out the full calculated possible swing range there will be an estimated 20.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥4.18 (0.48%) than the resistance at ¥4.40 (4.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is AVCON Information Technology 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 AVCON Information Technology 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: 2.263 Buy Candidate Upgraded
Predicted Opening Price for AVCON Information Technology Co., Ltd. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥4.12 ( 1.90%) | ¥4.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300074.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.62 | 10.00 % | |
| R2 | 4.43 | 5.45 % | ||
| R1 | 4.31 | 2.64 % | ||
| Current price: | 4.20 | |||
| Support | S1 | 3.93 | -6.45 % | |
| S2 | 3.81 | -9.26 % | ||
| S3 | 3.62 | -13.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.69 | 11.67 % | |
| R2 | 4.67 | 11.19 % | ||
| R1 | 4.40 | 4.76 % | ||
| Current price | 4.20 | |||
| Support | S1 | 4.18 | -0.476% | |
| S2 | 4.17 | -0.714% | ||
| S3 | 3.81 | -9.29% |
300074 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 05, 2017 | Jun 05, 2017 | Jun 05, 2017 | ¥0.0197 | 0.306% |
| 2 | Mar 21, 2014 | Mar 21, 2014 | Mar 21, 2014 | ¥0.0417 | 0.583% |
| 3 | May 20, 2013 | May 20, 2013 | May 20, 2013 | ¥0.0417 | 0.83% |
| 4 | Mar 01, 2011 | Mar 01, 2011 | Mar 01, 2011 | ¥0.0758 | 1.52% |
FAQ
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