Edan Instruments Inc Stock Forecast
Edan Instruments Inc stock upgraded to Hold/Accumulate.
(Updated on May 21, 2024)
The Edan Instruments Inc stock price fell by -0.309% on the last day (Tuesday, 21st May 2024) from ¥9.72 to ¥9.69. During the last trading day the stock fluctuated 1.77% from a day low at ¥9.60 to a day high of ¥9.77. The price has fallen in 7 of the last 10 days and is down by -5.92% for this period. 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 -2 million shares and in total, 4 million shares were bought and sold for approximately ¥37.46 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 ¥8.95 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Edan Instruments Inc stock with a 90% probability to be traded between ¥8.81 and ¥12.92 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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300206.SZ Signals & Forecast
There are mixed signals in the stock today. The Edan Instruments Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ¥9.74 and ¥9.94. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 7.43%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Edan Instruments Inc stock
Edan Instruments Inc finds support from accumulated volume at ¥9.60 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 ¥0.170 between high and low, or 1.77%. For the last week, the stock has had daily average volatility of 4.15%.
Our recommended stop-loss: ¥9.31 (-3.92%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 40 days ago.)
Trading Expectations (300206.SZ) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Edan Instruments Inc to open at ¥9.69, and during the day (based on 14 day Average True Range), to move between ¥9.14 and ¥10.24, which gives a possible trading interval of +/-¥0.554 (+/-5.71%) up or down from last closing price. If Edan Instruments Inc takes out the full calculated possible swing range there will be an estimated 11.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥9.60 (0.93%) than the resistance at ¥10.06 (3.82%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Edan Instruments Inc stock A Buy?
Edan Instruments Inc 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: 0.407 Hold/Accumulate Upgraded
Predicted Opening Price for Edan Instruments Inc of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| ¥9.69 ( 0.0344%) | ¥9.69 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300206.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.86 | 1.72 % | |
| R2 | 9.79 | 1.05 % | ||
| R1 | 9.75 | 0.636 % | ||
| Current price: | 9.69 | |||
| Support | S1 | 9.62 | -0.705 % | |
| S2 | 9.58 | -1.12 % | ||
| S3 | 9.52 | -1.79 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.05 | 24.36 % | |
| R2 | 10.30 | 6.30 % | ||
| R1 | 10.06 | 3.82 % | ||
| Current price | 9.69 | |||
| Support | S1 | 9.60 | -0.93% | |
| S2 | 9.46 | -2.37% | ||
| S3 | 9.15 | -5.57% |
300206 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 06, 2024 | May 06, 2024 | May 06, 2024 | ¥0.207 | 2.08% |
| 2 | Apr 28, 2023 | Apr 28, 2023 | Apr 28, 2023 | ¥0.207 | 1.33% |
| 3 | Apr 29, 2022 | Apr 29, 2022 | Apr 29, 2022 | ¥0.207 | 2.40% |
| 4 | Apr 28, 2021 | Apr 28, 2021 | Apr 28, 2021 | ¥0.433 | 2.37% |
| 5 | Jun 11, 2020 | Jun 11, 2020 | Jun 11, 2020 | ¥0.172 | 1.06% |
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