Hamaton Automotive Technology Co Ltd Stock Forecast
Volatile ride for Hamaton Automotive Technology Co Ltd stock price on Tuesday moving between ¥10.17 and ¥11.22
(Updated on Apr 30, 2024)
The Hamaton Automotive Technology Co Ltd stock price gained 0.543% on the last trading day (Tuesday, 30th Apr 2024), rising from ¥11.04 to ¥11.10. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 10.32% from a day low at ¥10.17 to a day high of ¥11.22. The price has risen in 8 of the last 10 days and is up by 24.02% 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, 48 thousand more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately ¥42.69 million.
The stock lies in the middle of a very wide and strong 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 23.69% during the next 3 months and, with a 90% probability hold a price between ¥11.35 and ¥15.22 at the end of this 3-month period.
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300643.SZ Signals & Forecast
Mostly positive signals in the chart today. The Hamaton Automotive Technology Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥10.42 and ¥10.45. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 24.02%. 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 Hamaton Automotive Technology Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥9.69 and ¥9.53. 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, Hamaton Automotive Technology Co Ltd finds support just below today's level at ¥9.69. If this is broken, then the next support from accumulated volume will be at ¥9.53 and ¥9.29.
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 ¥1.05 between high and low, or 10.32%. For the last week, the stock has had daily average volatility of 9.64%.
Since the Hamaton Automotive Technology Co Ltd has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: ¥10.68 (-3.82%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (300643.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Hamaton Automotive Technology Co Ltd to open at ¥10.83, and during the day (based on 14 day Average True Range), to move between ¥10.34 and ¥11.86, which gives a possible trading interval of +/-¥0.758 (+/-6.83%) up or down from last closing price. If Hamaton Automotive Technology Co Ltd takes out the full calculated possible swing range there will be an estimated 13.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥11.11 (0.09%) than the support at ¥9.69 (12.70%), 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 Hamaton Automotive Technology Co Ltd 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 Hamaton Automotive Technology Co Ltd stock to perform well in the short-term.
Current score: 1.057 Buy Candidate Unchanged
Predicted Opening Price for Hamaton Automotive Technology Co Ltd of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥10.83 ( 2.43%) | ¥11.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300643.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.88 | 7.03 % | |
| R2 | 11.48 | 3.41 % | ||
| R1 | 11.23 | 1.18 % | ||
| Current price: | 11.10 | |||
| Support | S1 | 10.43 | -6.05 % | |
| S2 | 10.18 | -8.28 % | ||
| S3 | 9.78 | -11.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.25 | 1.35 % | |
| R2 | 11.14 | 0.360 % | ||
| R1 | 11.11 | 0.0901 % | ||
| Current price | 11.10 | |||
| Support | S1 | 9.69 | -12.70% | |
| S2 | 9.53 | -14.14% | ||
| S3 | 9.29 | -16.31% |
300643 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 15, 2023 | Jun 15, 2023 | Jun 15, 2023 | ¥0.118 | 0.91% |
| 2 | Jun 16, 2022 | Jun 16, 2022 | Jun 16, 2022 | ¥0.0880 | 0.525% |
| 3 | May 27, 2021 | May 27, 2021 | May 27, 2021 | ¥0.0900 | 0.82% |
| 4 | May 28, 2020 | May 28, 2020 | May 28, 2020 | ¥0.0400 | 0.279% |
| 5 | May 28, 2019 | May 28, 2019 | May 28, 2019 | ¥0.0600 | 0.655% |
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