Beijing Egova Co Ltd Stock Forecast
Green day on Friday for Beijing Egova Co Ltd
(Updated on Jun 21, 2024)
The Beijing Egova Co Ltd stock price gained 1.32% on the last trading day (Friday, 21st Jun 2024), rising from ¥15.19 to ¥15.39. It has now gained 3 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 6.34% from a day low at ¥14.51 to a day high of ¥15.43. The price has risen in 7 of the last 10 days and is up by 2.26% over the past 2 weeks. Volume fell on the last day by -7 million shares and in total, 16 million shares were bought and sold for approximately ¥243.20 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 the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ¥16.09 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -7.31% during the next 3 months and, with a 90% probability hold a price between ¥11.30 and ¥14.92 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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300075.SZ Signals & Forecast
The Beijing Egova 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 ¥14.90 and ¥15.19. 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 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 Tuesday, May 21, 2024, and so far it has fallen -6.95%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Beijing Egova Co Ltd stock
Beijing Egova Co Ltd finds support from accumulated volume at ¥15.18 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 ¥0.92 between high and low, or 6.34%. For the last week, the stock has had daily average volatility of 4.54%.
Our recommended stop-loss: ¥14.57 (-5.34%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 42 days ago.)
Trading Expectations (300075.SZ) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Beijing Egova Co Ltd to open at ¥15.11, and during the day (based on 14 day Average True Range), to move between ¥14.66 and ¥16.12, which gives a possible trading interval of +/-¥0.730 (+/-4.74%) up or down from last closing price. If Beijing Egova Co Ltd takes out the full calculated possible swing range there will be an estimated 9.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥15.18 (1.36%) than the resistance at ¥16.54 (7.47%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Beijing Egova Co Ltd stock A Buy?
Beijing Egova 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.
Current score: 0.049 Hold/Accumulate Unchanged
Predicted Opening Price for Beijing Egova Co Ltd of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ¥15.11 ( 1.82%) | ¥15.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300075.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.03 | 4.16% |
| R2 | 15.68 | 1.87% |
| R1 | 15.46 | 0.464% |
| Price | 15.39 | |
| S1 | 14.76 | -4.10% |
| S2 | 14.54 | -5.51% |
| S3 | 14.19 | -7.80% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.49 | 13.65% |
| R2 | 17.29 | 12.35% |
| R1 | 16.54 | 7.47% |
| Price | 15.39 | |
| S1 | 15.18 | -1.36% |
| S2 | 15.00 | -2.53% |
| S3 | 13.96 | -9.29% |
300075 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2024 | May 30, 2024 | May 30, 2024 | ¥0.0500 | 0.334% |
| 2 | Jul 10, 2023 | Jul 10, 2023 | Jul 10, 2023 | ¥0.0500 | 0.250% |
| 3 | May 26, 2022 | May 26, 2022 | May 26, 2022 | ¥0.0450 | 0.333% |
| 4 | Jun 02, 2021 | Jun 02, 2021 | Jun 02, 2021 | ¥0.0400 | 0.449% |
| 5 | Jun 04, 2020 | Jun 04, 2020 | Jun 04, 2020 | ¥0.0400 | 0.358% |
FAQ
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