Yimikang Tech Group Co Ltd Stock Forecast
High volatility in Yimikang Tech Group Co Ltd stock price on Friday which ended trading at ¥6.11
(Updated on Apr 19, 2024)
The Yimikang Tech Group Co Ltd stock price gained 0.328% on the last trading day (Friday, 19th Apr 2024), rising from ¥6.09 to ¥6.11. During the last trading day the stock fluctuated 16.03% from a day low at ¥5.99 to a day high of ¥6.95. The price has fallen in 6 of the last 10 days and is down by -16.53% for this period. Volume fell on the last day by -4 million shares and in total, 9 million shares were bought and sold for approximately ¥56.50 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 in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥5.44 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 14.48% during the next 3 months and, with a 90% probability hold a price between ¥6.23 and ¥10.94 at the end of this 3-month period.
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300249.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 11.29%. Further rise is indicated until a new top pivot has been found. 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. The Yimikang Tech Group 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 ¥6.29 and ¥7.59. 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 Yimikang Tech Group Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥5.71 and ¥5.49. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Yimikang Tech Group Co Ltd finds support just below today's level at ¥5.71. If this is broken, then the next support from accumulated volume will be at ¥5.49 and ¥4.81.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ¥0.96 between high and low, or 16.03%. For the last week, the stock has had daily average volatility of 19.29%.
Yimikang Tech Group Co Ltd is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (300249.SZ) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Yimikang Tech Group Co Ltd to open at ¥6.35, and during the day (based on 14 day Average True Range), to move between ¥5.31 and ¥6.91, which gives a possible trading interval of +/-¥0.80 (+/-13.13%) up or down from last closing price. If Yimikang Tech Group Co Ltd takes out the full calculated possible swing range there will be an estimated 26.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥5.71 (6.55%) than the resistance at ¥6.85 (12.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Yimikang Tech Group Co Ltd stock A Buy?
The Yimikang Tech Group Co Ltd stock holds several negative signals and despite the positive trend, we believe Yimikang Tech Group Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.747 Sell Candidate Unchanged
Predicted Opening Price for Yimikang Tech Group Co Ltd of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| ¥6.35 ( 3.93%) | ¥6.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300249.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.31 | 19.64 % | |
| R2 | 6.94 | 13.64 % | ||
| R1 | 6.72 | 9.93 % | ||
| Current price: | 6.11 | |||
| Support | S1 | 5.98 | -2.07 % | |
| S2 | 5.76 | -5.78 % | ||
| S3 | 5.39 | -11.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.48 | 22.42 % | |
| R2 | 7.40 | 21.11 % | ||
| R1 | 6.85 | 12.11 % | ||
| Current price | 6.11 | |||
| Support | S1 | 5.71 | -6.55% | |
| S2 | 5.49 | -10.15% | ||
| S3 | 4.81 | -21.28% |
300249 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 13, 2022 | May 13, 2022 | May 13, 2022 | ¥0.0200 | 0.180% |
| 2 | Jun 13, 2019 | Jun 13, 2019 | Jun 13, 2019 | ¥0.0150 | 0.232% |
| 3 | Jul 11, 2018 | Jul 11, 2018 | Jul 11, 2018 | ¥0.0249 | 0.388% |
| 4 | Apr 29, 2016 | Apr 29, 2016 | Apr 29, 2016 | ¥0.0120 | 0.114% |
| 5 | May 22, 2015 | May 22, 2015 | May 22, 2015 | ¥0.0080 | 0.0623% |
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