Shenzhen Microgate Technology Co., Ltd. Stock Forecast
Volatile ride for Shenzhen Microgate Technology Co., Ltd. stock price on Wednesday moving between ¥8.09 and ¥8.95
(Updated on Jun 26, 2024)
The Shenzhen Microgate Technology Co., Ltd. stock price gained 6.27% on the last trading day (Wednesday, 26th Jun 2024), rising from ¥8.30 to ¥8.82. During the last trading day the stock fluctuated 10.63% from a day low at ¥8.09 to a day high of ¥8.95. The price has risen in 8 of the last 10 days and is up by 10.8% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 9 million more shares were traded than the day before. In total, 63 million shares were bought and sold for approximately ¥558.73 million.
The stock lies in the upper part of a wide and weak rising 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 ¥8.88 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 4.85% during the next 3 months and, with a 90% probability hold a price between ¥7.83 and ¥9.31 at the end of this 3-month period.
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300319.SZ Signals & Forecast
Mostly positive signals in the chart today. The Shenzhen Microgate Technology Co., Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ¥8.52 and ¥8.01. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 15, 2024, and so far it has risen 15.60%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Shenzhen Microgate Technology Co., Ltd. stock
Shenzhen Microgate Technology Co., Ltd. finds support from accumulated volume at ¥8.65 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 ¥0.86 between high and low, or 10.63%. For the last week, the stock has had daily average volatility of 10.20%.
The Shenzhen Microgate Technology Co., Ltd. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: ¥8.51 (-3.48%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 35 days ago.)
Trading Expectations (300319.SZ) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Shenzhen Microgate Technology Co., Ltd. to open at ¥8.62, and during the day (based on 14 day Average True Range), to move between ¥8.30 and ¥9.34, which gives a possible trading interval of +/-¥0.524 (+/-5.94%) up or down from last closing price. If Shenzhen Microgate Technology Co., Ltd. takes out the full calculated possible swing range there will be an estimated 11.88% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ¥8.65, some ¥0.170 (1.93%) from the current price of ¥8.82, our system finds the risk reward attractive.
Is Shenzhen Microgate Technology Co., Ltd. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Shenzhen Microgate Technology Co., Ltd. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.210 Buy Candidate Upgraded
Predicted Opening Price for Shenzhen Microgate Technology Co., Ltd. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ¥8.62 ( 2.27%) | ¥8.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300319.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 9.48 | 7.48% |
| R2 | 9.15 | 3.76% |
| R1 | 8.95 | 1.46% |
| Price | 8.82 | |
| S1 | 8.29 | -5.99% |
| S2 | 8.09 | -8.29% |
| S3 | 7.76 | -12.02% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 8.82 | |
| S1 | 8.65 | -1.93% |
| S2 | 8.62 | -2.27% |
| S3 | 8.35 | -5.33% |
300319 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 18, 2024 | Jun 18, 2024 | Jun 18, 2024 | ¥0.0937 | 1.09% |
| 2 | Jun 20, 2023 | Jun 20, 2023 | Jun 20, 2023 | ¥0.127 | 1.42% |
| 3 | Jun 17, 2022 | Jun 17, 2022 | Jun 17, 2022 | ¥0.0601 | 0.680% |
| 4 | Jun 19, 2017 | Jun 19, 2017 | Jun 19, 2017 | ¥0.0464 | 0.454% |
| 5 | Jul 05, 2016 | Jul 05, 2016 | Jul 05, 2016 | ¥0.0274 | 0.271% |
FAQ
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