Tellgen Corp Stock Forecast
Tellgen Corp stock upgraded to Buy Candidate.
(Updated on May 15, 2024)
The Tellgen Corp stock price fell by -1.84% on the last day (Wednesday, 15th May 2024) from ¥14.12 to ¥13.86. During the last trading day the stock fluctuated 8.39% from a day low at ¥13.83 to a day high of ¥14.99. The price has risen in 6 of the last 10 days and is up by 0.95% over the past 2 weeks. Volume has increased on the last day by 213 thousand 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, 1 million shares were bought and sold for approximately ¥18.17 million.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.97% during the next 3 months and, with a 90% probability hold a price between ¥12.85 and ¥16.31 at the end of this 3-month period.
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300642.SZ Signals & Forecast
The Tellgen Corp 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 ¥14.35. On a fall, the stock will find some support from the long-term average at approximately ¥13.80. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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, May 09, 2024, and so far it has fallen -6.54%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A sell signal from a double top formation was found on Thursday, May 09, 2024 and based on theory for this formation the price should fall by -31.42% to ¥9.50 within 31 trading days since signal was issued (Thursday, May 16, 2024).
Support, Risk & Stop-loss for Tellgen Corp stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥12.91 and ¥12.88. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Tellgen Corp finds support just below today's level at ¥12.91. If this is broken, then the next support from accumulated volume will be at ¥12.88 and ¥12.45.
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 ¥1.16 between high and low, or 8.39%. For the last week, the stock has had daily average volatility of 6.45%.
Our recommended stop-loss: ¥13.21 (-4.72%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (300642.SZ) For The Upcoming Trading Day Of Thursday 16th
For the upcoming trading day on Thursday, 16th we expect Tellgen Corp to open at ¥14.23, and during the day (based on 14 day Average True Range), to move between ¥13.00 and ¥14.72, which gives a possible trading interval of +/-¥0.86 (+/-6.22%) up or down from last closing price. If Tellgen Corp takes out the full calculated possible swing range there will be an estimated 12.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥13.93 (0.51%) than the support at ¥12.91 (6.85%), 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 Tellgen Corp 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 Tellgen Corp 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: 1.328 Buy Candidate Upgraded
Predicted Opening Price for Tellgen Corp of Thursday, May 16, 2024
| Fair opening price May 16, 2024 | Current price |
|---|---|
| ¥14.23 ( 2.65%) | ¥13.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300642.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.39 | 11.01 % | |
| R2 | 14.94 | 7.82 % | ||
| R1 | 14.67 | 5.84 % | ||
| Current price: | 13.86 | |||
| Support | S1 | 13.78 | -0.552 % | |
| S2 | 13.51 | -2.53 % | ||
| S3 | 13.07 | -5.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.03 | 1.23 % | |
| R2 | 13.96 | 0.722 % | ||
| R1 | 13.93 | 0.505 % | ||
| Current price | 13.86 | |||
| Support | S1 | 12.91 | -6.85% | |
| S2 | 12.88 | -7.07% | ||
| S3 | 12.45 | -10.17% |
300642 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 23, 2023 | May 23, 2023 | May 23, 2023 | ¥0.200 | 0.94% |
| 2 | May 24, 2022 | May 24, 2022 | May 24, 2022 | ¥0.250 | 1.21% |
| 3 | Jul 14, 2021 | Jul 14, 2021 | Jul 14, 2021 | ¥0.222 | 0.504% |
| 4 | Jul 14, 2020 | Jul 14, 2020 | Jul 14, 2020 | ¥0.222 | 0.706% |
| 5 | Jul 12, 2019 | Jul 12, 2019 | Jul 12, 2019 | ¥0.167 | 0.792% |
FAQ
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