BYD Electronic (International) Co Ltd Stock Forecast
Green day on Tuesday for BYD Electronic (International) Co Ltd stock after gaining 3.18%
(Updated on May 07, 2024)
The BYD Electronic (International) Co Ltd stock price gained 3.18% on the last trading day (Tuesday, 7th May 2024), rising from $3.77 to $3.89. 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 5.41% from a day low at $3.70 to a day high of $3.90. The price has risen in 5 of the last 10 days and is up by 29.67% over the past 2 weeks. Volume fell on the last day by -285 shares and in total, 2 thousand shares were bought and sold for approximately $8.13 thousand. 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 stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $3.67, a level that may pose a second chance to hit a runner. According to fan-theory $4.43 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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BYDIF Signals & Forecast
The BYD Electronic (International) 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 $3.54 and $3.47. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 29.67%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for BYD Electronic (International) Co Ltd stock
BYD Electronic (International) Co Ltd finds support from accumulated volume at $3.87 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 much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.200 between high and low, or 5.41%. For the last week the stock has had daily average volatility of 3.68%.
Our recommended stop-loss: $3.78 (-2.90%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (BYDIF) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect BYD Electronic (International) Company Limited to open at $3.83, and during the day (based on 14 day Average True Range), to move between $3.75 and $4.03, which gives a possible trading interval of +/-$0.137 (+/-3.51%) up or down from last closing price. If BYD Electronic (International) Company Limited takes out the full calculated possible swing range there will be an estimated 7.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.87 (0.51%) than the resistance at $3.95 (1.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is BYD Electronic (International) Company Limited stock A Buy?
BYD Electronic (International) Co Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for BYD Electronic (International) Company Limited of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $3.83 ( 1.54%) | $3.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BYDIF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.03 | 3.60 % | |
| R2 | 3.95 | 1.63 % | ||
| R1 | 3.91 | 0.422 % | ||
| Current price: | 3.89 | |||
| Support | S1 | 3.75 | -3.51 % | |
| S2 | 3.71 | -4.72 % | ||
| S3 | 3.63 | -6.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 4.05 | 3.98 % | ||
| R1 | 3.95 | 1.54 % | ||
| Current price | 3.89 | |||
| Support | S1 | 3.87 | -0.514% | |
| S2 | 3.85 | -1.16% | ||
| S3 | 3.42 | -12.08% |
BYDIF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 11, 2024 | Jun 11, 2024 | Aug 06, 2024 | $0.0742 | 1.91% |
| 2 | Jun 13, 2023 | Jun 13, 2023 | Jun 13, 2023 | $0.0230 | 0.706% |
| 3 | Jun 13, 2022 | Jun 13, 2022 | Jun 13, 2022 | $0.0150 | 0.602% |
| 4 | Jun 10, 2021 | Jun 10, 2021 | Jun 10, 2021 | $0.0380 | 0.560% |
| 5 | Jul 02, 2020 | Jul 02, 2020 | Jul 02, 2020 | $0.0100 | 0.444% |
FAQ
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