Newcapec Electronics Co Ltd Stock Forecast
Newcapec Electronics Co Ltd stock upgraded to Hold/Accumulate.
(Updated on May 31, 2024)
The Newcapec Electronics Co Ltd stock price gained 2.21% on the last trading day (Friday, 31st May 2024), rising from ¥6.79 to ¥6.94. During the last trading day the stock fluctuated 2.65% from a day low at ¥6.80 to a day high of ¥6.98. The price has fallen in 7 of the last 10 days and is down by -2.8% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 266 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately ¥22.95 million.
The stock lies in the middle of a very 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 -13.57% during the next 3 months and, with a 90% probability hold a price between ¥5.11 and ¥6.64 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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300248.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 6.61%. Further rise is indicated until a new top pivot has been found. 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. The Newcapec Electronics Co Ltd 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 ¥6.96 and ¥7.16. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Newcapec Electronics Co Ltd stock
Newcapec Electronics Co Ltd finds support from accumulated volume at ¥6.90 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 ¥0.180 between high and low, or 2.65%. For the last week, the stock has had daily average volatility of 3.37%.
Our recommended stop-loss: ¥6.66 (-4.10%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 38 days ago.)
Trading Expectations (300248.SZ) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Newcapec Electronics Co Ltd to open at ¥6.91, and during the day (based on 14 day Average True Range), to move between ¥6.65 and ¥7.23, which gives a possible trading interval of +/-¥0.293 (+/-4.23%) up or down from last closing price. If Newcapec Electronics Co Ltd takes out the full calculated possible swing range there will be an estimated 8.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥6.90 (0.58%) than the resistance at ¥7.22 (4.03%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Newcapec Electronics Co Ltd stock A Buy?
Newcapec Electronics Co Ltd holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.026 Hold/Accumulate Upgraded
Predicted Opening Price for Newcapec Electronics Co Ltd of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| ¥6.91 ( 0.480%) | ¥6.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300248.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.09 | 2.11 % | |
| R2 | 7.02 | 1.12 % | ||
| R1 | 6.98 | 0.510 % | ||
| Current price: | 6.94 | |||
| Support | S1 | 6.84 | -1.47 % | |
| S2 | 6.80 | -2.08 % | ||
| S3 | 6.73 | -3.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.47 | 22.05 % | |
| R2 | 8.25 | 18.88 % | ||
| R1 | 7.22 | 4.03 % | ||
| Current price | 6.94 | |||
| Support | S1 | 6.90 | -0.576% | |
| S2 | 6.89 | -0.720% | ||
| S3 | 6.51 | -6.20% |
300248 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 29, 2024 | May 29, 2024 | May 29, 2024 | ¥0.0800 | 1.17% |
| 2 | Jun 09, 2023 | Jun 09, 2023 | Jun 09, 2023 | ¥0.0650 | 0.630% |
| 3 | May 25, 2022 | May 25, 2022 | May 25, 2022 | ¥0.0650 | 0.707% |
| 4 | Jun 21, 2021 | Jun 21, 2021 | Jun 21, 2021 | ¥0.0600 | 0.580% |
| 5 | Jun 01, 2020 | Jun 01, 2020 | Jun 01, 2020 | ¥0.0600 | 0.538% |
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