Hengtong Optic-Electric Co., Ltd. Stock Forecast
Hengtong Optic-Electric Co., Ltd. stock upgraded to Strong Buy Candidate.
(Updated on Jun 21, 2024)
The Hengtong Optic-Electric Co., Ltd. stock price gained 2.82% on the last trading day (Friday, 21st Jun 2024), rising from $15.27 to $15.70. During the last trading day the stock fluctuated 4.03% from a day low at $15.13 to a day high of $15.74. The price has risen in 7 of the last 10 days and is up by 7.24% 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, 8 million more shares were traded than the day before. In total, 47 million shares were bought and sold for approximately $742.91 million.
The stock lies in the middle of a 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 25.12% during the next 3 months and, with a 90% probability hold a price between $18.34 and $21.37 at the end of this 3-month period.
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600487.SS Signals & Forecast
Mostly positive signals in the chart today. The Hengtong Optic-Electric 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 $15.14 and $14.86. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 10, 2024, and so far it has risen 32.27%. 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 Hengtong Optic-Electric Co., Ltd. stock
Hengtong Optic-Electric Co., Ltd. finds support from accumulated volume at $15.45 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.610 (4.03%) between high and low. For the last week, the stock has had daily average volatility of 3.14%.
Our recommended stop-loss: $15.10 (-3.80%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 66 days ago.)
Trading Expectations (600487.SS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Hengtong Optic-Electric Co., Ltd. to open at $15.52, and during the day (based on 14 day Average True Range), to move between $15.22 and $16.18, which gives a possible trading interval of +/-$0.480 (+/-3.06%) up or down from last closing price. If Hengtong Optic-Electric Co., Ltd. takes out the full calculated possible swing range there will be an estimated 6.11% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $15.45, some $0.250 (1.59%) from the current price of $15.70, our system finds the risk reward attractive.
Is Hengtong Optic-Electric Co., Ltd. stock A Buy?
Hengtong Optic-Electric Co., Ltd. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 7.597 Strong Buy Candidate Upgraded
Predicted Opening Price for Hengtong Optic-Electric Co., Ltd. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $15.52 ( 1.13%) | $15.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600487.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.13 | 2.76% |
| R2 | 15.90 | 1.28% |
| R1 | 15.76 | 0.359% |
| Price | 15.70 | |
| S1 | 15.29 | -2.61% |
| S2 | 15.15 | -3.53% |
| S3 | 14.91 | -5.01% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 15.70 | |
| S1 | 15.45 | -1.59% |
| S2 | 14.22 | -9.43% |
| S3 | 13.83 | -11.91% |
600487 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 07, 2023 | Jul 07, 2023 | Jul 07, 2023 | $0.0800 | 0.559% |
| 2 | Jul 08, 2022 | Jul 08, 2022 | Jul 08, 2022 | $0.0700 | 0.438% |
| 3 | Jul 22, 2021 | Jul 22, 2021 | Jul 22, 2021 | $0.0600 | 0.496% |
| 4 | Jun 29, 2020 | Jun 29, 2020 | Jun 29, 2020 | $0.0800 | 0.491% |
| 5 | Jun 11, 2019 | Jun 11, 2019 | Jun 11, 2019 | $0.150 | 0.95% |
FAQ
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