RoadMainT Co.,Ltd. Stock Forecast
High volatility in RoadMainT Co.,Ltd. stock price on Thursday which ended trading at $29.62
(Updated on Jun 27, 2024)
The RoadMainT Co.,Ltd. stock price gained 9.99% on the last trading day (Thursday, 27th Jun 2024), rising from $26.93 to $29.62. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 11.35% from a day low at $26.60 to a day high of $29.62. The price has risen in 7 of the last 10 days and is up by 15.21% 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, 3 million more shares were traded than the day before. In total, 7 million shares were bought and sold for approximately $201.05 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -7.18% during the next 3 months and, with a 90% probability hold a price between $22.50 and $33.34 at the end of this 3-month period.
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603860.SS Signals & Forecast
Mostly positive signals in the chart today. The RoadMainT 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 $27.55 and $27.06. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 18.96%. 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 RoadMainT Co.,Ltd. stock
RoadMainT Co.,Ltd. finds support from accumulated volume at $29.53 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 $3.02 between high and low, or 11.35%. For the last week, the stock has had daily average volatility of 6.35%.
Our recommended stop-loss: $28.56 (-3.58%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 46 days ago.)
Trading Expectations (603860.SS) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect RoadMainT Co.,Ltd. to open at $28.61, and during the day (based on 14 day Average True Range), to move between $28.10 and $31.14, which gives a possible trading interval of +/-$1.52 (+/-5.14%) up or down from last closing price. If RoadMainT Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 10.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $29.53 (0.30%) than the resistance at $31.47 (6.25%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is RoadMainT Co.,Ltd. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 4.668 Buy Candidate Upgraded
Predicted Opening Price for RoadMainT Co.,Ltd. of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $28.61 ( 3.40%) | $29.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 603860.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 31.63 | 6.80% |
| R2 | 30.48 | 2.90% |
| R1 | 29.77 | 0.496% |
| Price | 29.62 | |
| S1 | 27.46 | -7.29% |
| S2 | 26.75 | -9.70% |
| S3 | 25.59 | -13.59% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 35.18 | 18.77% |
| R2 | 34.62 | 16.88% |
| R1 | 31.47 | 6.25% |
| Price | 29.62 | |
| S1 | 29.53 | -0.304% |
| S2 | 29.09 | -1.79% |
| S3 | 28.32 | -4.39% |
603860 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2024 | May 31, 2024 | May 31, 2024 | $0.155 | 0.592% |
| 2 | May 25, 2023 | May 25, 2023 | May 25, 2023 | $0.115 | 0.418% |
| 3 | May 27, 2022 | May 27, 2022 | May 27, 2022 | $0.113 | 0.511% |
| 4 | Jun 01, 2021 | Jun 01, 2021 | Jun 01, 2021 | $0.105 | 0.487% |
| 5 | May 21, 2020 | May 21, 2020 | May 21, 2020 | $0.165 | 0.662% |
FAQ
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