Top Resource Conservation & Envrnmt Corp Stock Forecast
Top Resource Conservation & Envrnmt Corp stock downgraded to Strong Sell Candidate
(Updated on Jun 17, 2024)
The Top Resource Conservation & Envrnmt Corp stock price fell by -1.47% on the last day (Monday, 17th Jun 2024) from ¥5.46 to ¥5.38. During the last trading day the stock fluctuated 3.18% from a day low at ¥5.35 to a day high of ¥5.52. The price has fallen in 6 of the last 10 days and is down by -7.4% for this period. Volume has increased on the last day by 4 million 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, 10 million shares were bought and sold for approximately ¥51.79 million.
The stock lies in the middle of a 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 -14.56% during the next 3 months and, with a 90% probability hold a price between ¥4.35 and ¥5.19 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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300332.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Top Resource Conservation & Envrnmt Corp 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 ¥5.50 and ¥5.93. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 13, 2024, and so far it has fallen -17.10%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for Top Resource Conservation & Envrnmt Corp stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 3.18%. For the last week, the stock has had daily average volatility of 2.92%.
Top Resource Conservation & Envrnmt Corp is oversold on RSI14 (24). 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 (300332.SZ) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Top Resource Conservation & Envrnmt Corp to open at ¥5.42, and during the day (based on 14 day Average True Range), to move between ¥5.12 and ¥5.64, which gives a possible trading interval of +/-¥0.257 (+/-4.78%) up or down from last closing price. If Top Resource Conservation & Envrnmt Corp takes out the full calculated possible swing range there will be an estimated 9.56% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ¥5.68, some ¥0.300 (5.58%) from the current price of ¥5.38, our system finds the risk reward not very attractive.
Is Top Resource Conservation & Envrnmt Corp stock A Buy?
Top Resource Conservation & Envrnmt Corp holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.526 Strong Sell Candidate Downgraded
Predicted Opening Price for Top Resource Conservation & Envrnmt Corp of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ¥5.42 ( 0.682%) | ¥5.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300332.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.59 | 3.84% |
| R2 | 5.52 | 2.63% |
| R1 | 5.48 | 1.89% |
| Price | 5.38 | |
| S1 | 5.35 | -0.526% |
| S2 | 5.31 | -1.27% |
| S3 | 5.25 | -2.48% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.49 | 20.63% |
| R2 | 6.39 | 18.77% |
| R1 | 5.68 | 5.58% |
| Price | 5.38 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
300332 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 06, 2023 | Jul 06, 2023 | Jul 06, 2023 | ¥0.0850 | 0.756% |
| 2 | Jun 02, 2022 | Jun 02, 2022 | Jun 02, 2022 | ¥0.0480 | 0.523% |
| 3 | Jul 12, 2021 | Jul 12, 2021 | Jul 12, 2021 | ¥0.0130 | 0.228% |
| 4 | Jul 24, 2020 | Jul 24, 2020 | Jul 24, 2020 | ¥0.0120 | 0.252% |
| 5 | Jul 30, 2019 | Jul 30, 2019 | Jul 30, 2019 | ¥0.0200 | 0.463% |
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