IReader Technology Co., Ltd. Stock Forecast
IReader Technology Co., Ltd. stock upgraded to Sell Candidate.
(Updated on Jun 21, 2024)
The IReader Technology Co., Ltd. stock price fell by -1.13% on the last day (Friday, 21st Jun 2024) from $17.68 to $17.48. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.65% from a day low at $17.35 to a day high of $17.81. The price has been going up and down for this period, and there has been a -2.24% loss 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 -2 million shares and in total, 5 million shares were bought and sold for approximately $90.55 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 $18.80 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 -33.37% during the next 3 months and, with a 90% probability hold a price between $7.92 and $12.52 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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603533.SS Signals & Forecast
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. The IReader Technology Co., Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $18.29 and $20.12. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -28.30%. Further fall is indicated until a new bottom pivot has been found. 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 IReader Technology Co., Ltd. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.460 between high and low, or 2.65%. For the last week, the stock has had daily average volatility of 2.49%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (603533.SS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect IReader Technology Co., Ltd. to open at $17.55, and during the day (based on 14 day Average True Range), to move between $16.75 and $18.21, which gives a possible trading interval of +/-$0.727 (+/-4.16%) up or down from last closing price. If IReader Technology Co., Ltd. takes out the full calculated possible swing range there will be an estimated 8.32% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $21.13, some $3.65 (20.88%) from the current price of $17.48, our system finds the risk reward not very attractive.
Is IReader Technology Co., Ltd. stock A Buy?
IReader Technology Co., Ltd. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -2.972 Sell Candidate Upgraded
Predicted Opening Price for IReader Technology Co., Ltd. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $17.55 ( 0.381%) | $17.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 603533.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.01 | 3.01% |
| R2 | 17.83 | 2.01% |
| R1 | 17.72 | 1.39% |
| Price | 17.48 | |
| S1 | 17.37 | -0.624% |
| S2 | 17.26 | -1.24% |
| S3 | 17.09 | -2.25% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.70 | 24.14% |
| R2 | 21.60 | 23.57% |
| R1 | 21.13 | 20.88% |
| Price | 17.48 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
603533 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 03, 2024 | Jun 03, 2024 | Jun 03, 2024 | $0.0300 | 0.155% |
| 2 | Jun 06, 2023 | Jun 06, 2023 | Jun 06, 2023 | $0.150 | 0.527% |
| 3 | Jun 20, 2022 | Jun 20, 2022 | Jun 20, 2022 | $0.0400 | 0.247% |
| 4 | May 28, 2021 | May 28, 2021 | May 28, 2021 | $0.100 | 0.347% |
| 5 | May 22, 2020 | May 22, 2020 | May 22, 2020 | $0.150 | 0.515% |
FAQ
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