Guangdong Ellington Electronics Stock Forecast
Green day on Wednesday for Guangdong Ellington Electronics
(Updated on Jun 26, 2024)
The Guangdong Ellington Electronics stock price gained 4.25% on the last trading day (Wednesday, 26th Jun 2024), rising from $7.30 to $7.61. During the last trading day the stock fluctuated 5.96% from a day low at $7.21 to a day high of $7.64. The price has fallen in 6 of the last 10 days but is still up by 3.4% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 27 million shares were bought and sold for approximately $204.89 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 11.04% during the next 3 months and, with a 90% probability hold a price between $7.65 and $8.70 at the end of this 3-month period.
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603328.SS Signals & Forecast
The Guangdong Ellington Electronics 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 $7.57 and $7.29. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Monday, June 17, 2024, and so far it has fallen -1.68%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Guangdong Ellington Electronics stock
Guangdong Ellington Electronics finds support from accumulated volume at $7.52 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 $0.430 between high and low, or 5.96%. For the last week, the stock has had daily average volatility of 4.96%.
Our recommended stop-loss: $7.30 (-4.13%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 47 days ago.)
Trading Expectations (603328.SS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Guangdong Ellington Electronics Technology Co.,Ltd to open at $7.49, and during the day (based on 14 day Average True Range), to move between $7.34 and $7.88, which gives a possible trading interval of +/-$0.266 (+/-3.50%) up or down from last closing price. If Guangdong Ellington Electronics Technology Co.,Ltd takes out the full calculated possible swing range there will be an estimated 7.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.70 (1.18%) than the support at $7.52 (1.18%), 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 Ellington Electronics 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 Guangdong Ellington Electronics stock to perform well in the short-term.
Current score: 4.351 Buy Candidate Unchanged
Predicted Opening Price for Guangdong Ellington Electronics Technology Co.,Ltd of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $7.49 ( 1.62%) | $7.61 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 603328.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.92 | 4.03% |
| R2 | 7.75 | 1.87% |
| R1 | 7.65 | 0.538% |
| Price | 7.61 | |
| S1 | 7.32 | -3.78% |
| S2 | 7.22 | -5.11% |
| S3 | 7.06 | -7.27% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.74 | 1.71% |
| R2 | 7.72 | 1.45% |
| R1 | 7.70 | 1.18% |
| Price | 7.61 | |
| S1 | 7.52 | -1.18% |
| S2 | 7.30 | -4.07% |
| S3 | 7.17 | -5.78% |
603328 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 27, 2024 | Jun 27, 2024 | Jun 27, 2024 | $0.194 | 2.56% |
| 2 | Jul 18, 2023 | Jul 18, 2023 | Jul 18, 2023 | $0.147 | 1.80% |
| 3 | Jul 19, 2022 | Jul 19, 2022 | Jul 19, 2022 | $0.0680 | 1.00% |
| 4 | Jun 18, 2021 | Jun 18, 2021 | Jun 18, 2021 | $0.100 | 1.35% |
| 5 | Oct 22, 2020 | Oct 22, 2020 | Oct 22, 2020 | $0.120 | 1.36% |
FAQ
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