Tjk Machinery (tianjin) Co., Ltd. Stock Forecast
Tjk Machinery (tianjin) Co., Ltd. stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Jun 28, 2024)
The Tjk Machinery (tianjin) Co., Ltd. stock price fell by -3.11% on the last day (Friday, 28th Jun 2024) from ¥12.54 to ¥12.15. During the last trading day the stock fluctuated 7.04% from a day low at ¥11.51 to a day high of ¥12.32. The price has been going up and down for this period, and there has been a 2.88% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -4 million shares and in total, 9 million shares were bought and sold for approximately ¥112.70 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 ¥12.67 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 -42.42% during the next 3 months and, with a 90% probability hold a price between ¥5.28 and ¥7.30 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.
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300823.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 12.60%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Tjk Machinery (tianjin) Co., Ltd. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ¥14.08. On a fall, the stock will find some support from the short-term average at ¥11.60. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Tjk Machinery (tianjin) Co., Ltd. stock
Tjk Machinery (tianjin) Co., Ltd. finds support from accumulated volume at ¥11.81 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ¥0.81 between high and low, or 7.04%. For the last week, the stock has had daily average volatility of 10.02%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (300823.SZ) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Tjk Machinery (tianjin) Co., Ltd. to open at ¥11.99, and during the day (based on 14 day Average True Range), to move between ¥10.57 and ¥13.73, which gives a possible trading interval of +/-¥1.58 (+/-12.99%) up or down from last closing price. If Tjk Machinery (tianjin) Co., Ltd. takes out the full calculated possible swing range there will be an estimated 25.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥12.43 (2.30%) than the support at ¥11.81 (2.80%), 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 Tjk Machinery (tianjin) Co., Ltd. stock A Buy?
Tjk Machinery (tianjin) Co., Ltd. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.588 Sell Candidate Downgraded
Predicted Opening Price for Tjk Machinery (tianjin) Co., Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ¥11.99 ( 1.29%) | ¥12.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300823.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.80 | 5.38% |
| R2 | 12.49 | 2.83% |
| R1 | 12.30 | 1.26% |
| Price | 12.15 | |
| S1 | 11.68 | -3.84% |
| S2 | 11.49 | -5.41% |
| S3 | 11.18 | -7.96% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 12.54 | 3.21% |
| R1 | 12.43 | 2.30% |
| Price | 12.15 | |
| S1 | 11.81 | -2.80% |
| S2 | 11.41 | -6.09% |
| S3 | 11.10 | -8.64% |
300823 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 05, 2024 | Jun 05, 2024 | Jun 05, 2024 | ¥0.588 | 4.73% |
| 2 | May 24, 2023 | May 24, 2023 | May 24, 2023 | ¥0.533 | 3.95% |
| 3 | May 12, 2022 | May 12, 2022 | May 12, 2022 | ¥0.535 | 3.87% |
| 4 | Apr 30, 2021 | Apr 30, 2021 | Apr 30, 2021 | ¥0.428 | 2.31% |
| 5 | Jul 10, 2020 | Jul 10, 2020 | Jul 10, 2020 | ¥0.216 | 0.96% |
FAQ
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