Dongguan Golden Sun Abras Co Ltd Stock Forecast
On Thursday, Dongguan Golden Sun Abras Co Ltd stock price gained an impressive 5.62%
(Updated on Mar 28, 2024)
The Dongguan Golden Sun Abras Co Ltd stock price gained 5.62% on the last trading day (Thursday, 28th Mar 2024), rising from ¥21.01 to ¥22.19. During the last trading day the stock fluctuated 6.62% from a day low at ¥21.01 to a day high of ¥22.40. The price has risen in 7 of the last 10 days but is still down by -2.59% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 58 thousand more shares were traded than the day before. In total, 6 million shares were bought and sold for approximately ¥122.71 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 ¥23.33 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 -31.16% during the next 3 months and, with a 90% probability hold a price between ¥7.20 and ¥16.06 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
300606.SZ Signals & Forecast
The Dongguan Golden Sun Abras Co Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ¥22.90. On a fall, the stock will find some support from the long-term average at approximately ¥21.82. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 -8.38%. 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).
Support, Risk & Stop-loss for Dongguan Golden Sun Abras Co Ltd stock
Dongguan Golden Sun Abras Co Ltd finds support from accumulated volume at ¥21.30 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 ¥1.39 between high and low, or 6.62%. For the last week, the stock has had daily average volatility of 5.61%.
Our recommended stop-loss: ¥20.86 (-5.98%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (300606.SZ) For The Upcoming Trading Day Of Friday 29th
For the upcoming trading day on Friday, 29th we expect Dongguan Golden Sun Abras Co Ltd to open at ¥21.87, and during the day (based on 14 day Average True Range), to move between ¥20.89 and ¥23.49, which gives a possible trading interval of +/-¥1.30 (+/-5.86%) up or down from last closing price. If Dongguan Golden Sun Abras Co Ltd takes out the full calculated possible swing range there will be an estimated 11.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥23.08 (4.01%) than the support at ¥21.30 (4.01%), 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 Dongguan Golden Sun Abras Co Ltd stock A Buy?
Dongguan Golden Sun Abras Co Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: -0.918 Hold/Accumulate Upgraded
Predicted Opening Price for Dongguan Golden Sun Abras Co Ltd of Friday, March 29, 2024
Fair opening price March 29, 2024 | Current price |
---|---|
¥21.87 ( 1.46%) | ¥22.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300606.SZ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 23.26 | 4.81 % | |
R2 | 22.73 | 2.41 % | ||
R1 | 22.40 | 0.94 % | ||
Current price: | 22.19 | |||
Support | S1 | 21.34 | -3.85 % | |
S2 | 21.01 | -5.33 % | ||
S3 | 20.48 | -7.72 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 24.00 | 8.16 % | |
R2 | 23.80 | 7.26 % | ||
R1 | 23.08 | 4.01 % | ||
Current price | 22.19 | |||
Support | S1 | 21.30 | -4.01% | |
S2 | 19.43 | -12.44% | ||
S3 | 17.45 | -21.36% |
300606 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 25, 2022 | May 25, 2022 | May 25, 2022 | ¥0.350 | 3.21% |
2 | Jun 11, 2021 | Jun 11, 2021 | Jun 11, 2021 | ¥0.179 | 1.61% |
3 | Jul 14, 2020 | Jul 14, 2020 | Jul 14, 2020 | ¥0.0513 | 0.359% |
4 | Jun 14, 2019 | Jun 14, 2019 | Jun 14, 2019 | ¥0.0321 | 0.306% |
FAQ
Click here for our free guide on how to buy Dongguan Golden Sun Abras Co Ltd Stock.