Brilliance Technology Co Ltd Stock Forecast
High volatility in Brilliance Technology Co Ltd stock price on Thursday which ended trading at ¥13.08
(Updated on Mar 28, 2024)
The Brilliance Technology Co Ltd stock price gained 12.66% on the last trading day (Thursday, 28th Mar 2024), rising from ¥11.61 to ¥13.08. During the last trading day the stock fluctuated 11.76% from a day low at ¥11.90 to a day high of ¥13.30. The price has risen in 6 of the last 10 days and is up by 25.05% 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, 7 million more shares were traded than the day before. In total, 37 million shares were bought and sold for approximately ¥478.36 million.
The stock lies the upper part of a very wide and falling 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 ¥14.39 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -5.08% during the next 3 months and, with a 90% probability hold a price between ¥6.62 and ¥13.66 at the end of this 3-month period.
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300542.SZ Signals & Forecast
The Brilliance 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 ¥12.83 and ¥10.33. A breakdown below any of these levels will issue sell signals. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -9.54%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Brilliance Technology Co Ltd stock
Brilliance Technology Co Ltd finds support from accumulated volume at ¥12.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ¥1.40 between high and low, or 11.76%. For the last week, the stock has had daily average volatility of 9.92%.
Our recommended stop-loss: ¥12.33 (-5.72%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (300542.SZ) For The Upcoming Trading Day Of Friday 29th
For the upcoming trading day on Friday, 29th we expect Brilliance Technology Co Ltd to open at ¥12.76, and during the day (based on 14 day Average True Range), to move between ¥12.08 and ¥14.08, which gives a possible trading interval of +/-¥1.00 (+/-7.63%) up or down from last closing price. If Brilliance Technology Co Ltd takes out the full calculated possible swing range there will be an estimated 15.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥13.10 (0.15%) than the support at ¥12.80 (2.14%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Brilliance Technology Co Ltd stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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: 1.220 Buy Candidate Upgraded
Predicted Opening Price for Brilliance Technology Co Ltd of Friday, March 29, 2024
Fair opening price March 29, 2024 | Current price |
---|---|
¥12.76 ( 2.45%) | ¥13.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300542.SZ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 14.16 | 8.26 % | |
R2 | 13.63 | 4.17 % | ||
R1 | 13.29 | 1.64 % | ||
Current price: | 13.08 | |||
Support | S1 | 12.23 | -6.54 % | |
S2 | 11.89 | -9.06 % | ||
S3 | 11.36 | -13.15 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 14.46 | 10.55 % | |
R2 | 13.14 | 0.459 % | ||
R1 | 13.10 | 0.153 % | ||
Current price | 13.08 | |||
Support | S1 | 12.80 | -2.14% | |
S2 | 12.64 | -3.36% | ||
S3 | 11.61 | -11.24% |
300542 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 14, 2023 | Jun 14, 2023 | Jun 14, 2023 | ¥0.0200 | 0.153% |
2 | Jun 24, 2022 | Jun 24, 2022 | Jun 24, 2022 | ¥0.100 | 0.88% |
3 | Apr 30, 2021 | Apr 30, 2021 | Apr 30, 2021 | ¥0.0900 | 0.83% |
4 | Jun 02, 2020 | Jun 02, 2020 | Jun 02, 2020 | ¥0.0346 | 0.314% |
5 | May 09, 2019 | May 09, 2019 | May 09, 2019 | ¥0.0256 | 0.253% |
FAQ
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