Guangdong Topstar Technology Co Ltd Stock Forecast
Big movements in Guangdong Topstar Technology Co Ltd stock price on Friday moving 16.36% between high and low
(Updated on Jun 28, 2024)
The Guangdong Topstar Technology Co Ltd stock price gained 4.93% on the last trading day (Friday, 28th Jun 2024), rising from ¥12.98 to ¥13.62. During the last trading day the stock fluctuated 16.36% from a day low at ¥11.92 to a day high of ¥13.87. The price has fallen in 6 of the last 10 days but is still up by 11.91% 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, 5 million more shares were traded than the day before. In total, 28 million shares were bought and sold for approximately ¥378.74 million.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is ¥13.44, a level that may pose a second chance to hit a runner. According to fan-theory ¥16.23 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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300607.SZ Signals & Forecast
The Guangdong Topstar 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 ¥12.82 and ¥12.63. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 17.72%. 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 Guangdong Topstar Technology Co Ltd stock
Guangdong Topstar Technology Co Ltd finds support from accumulated volume at ¥13.33 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 ¥1.95 between high and low, or 16.36%. For the last week, the stock has had daily average volatility of 13.74%.
The Guangdong Topstar Technology Co Ltd stock is extremely overbought on RSI14 (76). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: ¥13.15 (-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 (300607.SZ) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Guangdong Topstar Technology Co Ltd to open at ¥13.14, and during the day (based on 14 day Average True Range), to move between ¥12.71 and ¥14.53, which gives a possible trading interval of +/-¥0.91 (+/-6.69%) up or down from last closing price. If Guangdong Topstar Technology Co Ltd takes out the full calculated possible swing range there will be an estimated 13.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥13.63 (0.07%) than the support at ¥13.33 (2.13%), 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 Guangdong Topstar Technology Co Ltd stock A Buy?
Guangdong Topstar Technology 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.879 Hold/Accumulate Downgraded
Predicted Opening Price for Guangdong Topstar Technology Co Ltd of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ¥13.14 ( 3.55%) | ¥13.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300607.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.09 | 10.77% |
| R2 | 14.34 | 5.30% |
| R1 | 13.88 | 1.92% |
| Price | 13.62 | |
| S1 | 12.39 | -9.02% |
| S2 | 11.93 | -12.40% |
| S3 | 11.19 | -17.87% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.78 | 1.17% |
| R2 | 13.68 | 0.441% |
| R1 | 13.63 | 0.0734% |
| Price | 13.62 | |
| S1 | 13.33 | -2.13% |
| S2 | 12.98 | -4.70% |
| S3 | 12.70 | -6.75% |
300607 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2024 | Jun 14, 2024 | Jun 14, 2024 | ¥0.0430 | 0.355% |
| 2 | Jul 04, 2023 | Jul 04, 2023 | Jul 04, 2023 | ¥0.0710 | 0.478% |
| 3 | Jul 14, 2022 | Jul 14, 2022 | Jul 14, 2022 | ¥0.0250 | 0.195% |
| 4 | Jul 06, 2021 | Jul 06, 2021 | Jul 06, 2021 | ¥0.220 | 1.04% |
| 5 | Jun 29, 2020 | Jun 29, 2020 | Jun 29, 2020 | ¥0.219 | 0.87% |
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