Chengdu Galaxy Magnets Co.,Ltd. Stock Forecast
Stronger technical forecast for Chengdu Galaxy Magnets Co.,Ltd. stock price after Monday trading.
(Updated on Jun 17, 2024)
The Chengdu Galaxy Magnets Co.,Ltd. stock price fell by -0.461% on the last day (Monday, 17th Jun 2024) from ¥15.19 to ¥15.12. During the last trading day the stock fluctuated 2.40% from a day low at ¥15.00 to a day high of ¥15.36. The price has fallen in 6 of the last 10 days and is down by -6.15% for this period. Volume has increased on the last day by 16 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately ¥30.93 million.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at ¥14.51 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Chengdu Galaxy Magnets Co.,Ltd. stock with a 90% probability to be traded between ¥14.63 and ¥19.21 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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300127.SZ Signals & Forecast
There are mixed signals in the stock today. The Chengdu Galaxy Magnets Co.,Ltd. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ¥16.11. On a fall, the stock will find some support from the short-term average at ¥14.99. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 4.35%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Chengdu Galaxy Magnets Co.,Ltd. stock
Chengdu Galaxy Magnets Co.,Ltd. finds support from accumulated volume at ¥15.05 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 ¥0.360 between high and low, or 2.40%. For the last week, the stock has had daily average volatility of 3.54%.
Our recommended stop-loss: ¥14.42 (-4.66%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (300127.SZ) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Chengdu Galaxy Magnets Co.,Ltd. to open at ¥15.16, and during the day (based on 14 day Average True Range), to move between ¥14.14 and ¥16.10, which gives a possible trading interval of +/-¥0.98 (+/-6.50%) up or down from last closing price. If Chengdu Galaxy Magnets Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 13.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥15.05 (0.46%) than the resistance at ¥16.00 (5.82%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Chengdu Galaxy Magnets Co.,Ltd. stock A Buy?
Chengdu Galaxy Magnets 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.265 Hold/Accumulate Upgraded
Predicted Opening Price for Chengdu Galaxy Magnets Co.,Ltd. of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ¥15.16 ( 0.265%) | ¥15.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300127.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.52 | 2.65% |
| R2 | 15.38 | 1.74% |
| R1 | 15.30 | 1.17% |
| Price | 15.12 | |
| S1 | 15.02 | -0.645% |
| S2 | 14.94 | -1.21% |
| S3 | 14.80 | -2.12% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.51 | 15.81% |
| R2 | 17.49 | 15.67% |
| R1 | 16.00 | 5.82% |
| Price | 15.12 | |
| S1 | 15.05 | -0.463% |
| S2 | 14.94 | -1.19% |
| S3 | 14.49 | -4.17% |
300127 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 15, 2023 | Jun 15, 2023 | Jun 15, 2023 | ¥0.400 | 2.33% |
| 2 | Jun 15, 2022 | Jun 15, 2022 | Jun 15, 2022 | ¥0.450 | 2.54% |
| 3 | May 19, 2021 | May 19, 2021 | May 19, 2021 | ¥0.350 | 2.22% |
| 4 | May 15, 2020 | May 15, 2020 | May 15, 2020 | ¥0.350 | 2.23% |
| 5 | May 10, 2019 | May 10, 2019 | May 10, 2019 | ¥0.350 | 2.91% |
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