IT Tech Packaging Inc Stock Forecast
Green day on Friday for IT Tech Packaging Inc stock after gaining 0.215%
(Updated on May 03, 2024)
The IT Tech Packaging Inc stock price gained 0.215% on the last trading day (Friday, 3rd May 2024), rising from $0.232 to $0.233. During the last trading day the stock fluctuated 6.21% from a day low at $0.222 to a day high of $0.236. The price has risen in 5 of the last 10 days and is up by 4.68% over the past 2 weeks. Volume fell on the last day by -44 thousand shares and in total, 11 thousand shares were bought and sold for approximately $2.52 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 stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.212 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -12.71% during the next 3 months and, with a 90% probability hold a price between $0.185 and $0.280 at the end of this 3-month period.
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ITP Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 5.34%. 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. The IT Tech Packaging Inc 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 $0.233 and $0.253. A break-up above any of these levels will issue buy signals. 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 IT Tech Packaging Inc stock
IT Tech Packaging Inc finds support from accumulated volume at $0.232 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 $0.0138 between high and low, or 6.21%. For the last week the stock has had daily average volatility of 10.68%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ITP) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect IT Tech Packaging Inc to open at $0.230, and during the day (based on 14 day Average True Range), to move between $0.211 and $0.255, which gives a possible trading interval of +/-$0.0219 (+/-9.41%) up or down from last closing price. If IT Tech Packaging Inc takes out the full calculated possible swing range there will be an estimated 18.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.232 (0.21%) than the resistance at $0.261 (12.16%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
IT Tech Packaging Inc will release earnings BMO on Thursday, May 09, 2024. We will update the financials statements for IT Tech Packaging Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 13.99% in the first trading day after earnings release.
Is IT Tech Packaging Inc stock A Buy?
IT Tech Packaging Inc 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.
Current score: -2.312 Sell Candidate Unchanged
Predicted Opening Price for IT Tech Packaging Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.230 ( 1.03%) | $0.233 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ITP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.244 | 4.90 % | |
| R2 | 0.239 | 2.63 % | ||
| R1 | 0.236 | 1.23 % | ||
| Current price: | 0.233 | |||
| Support | S1 | 0.225 | -3.30 % | |
| S2 | 0.222 | -4.70 % | ||
| S3 | 0.217 | -6.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.273 | 17.32 % | |
| R2 | 0.270 | 16.03 % | ||
| R1 | 0.261 | 12.16 % | ||
| Current price | 0.233 | |||
| Support | S1 | 0.232 | -0.215% | |
| S2 | 0.221 | -5.07% | ||
| S3 | 0.215 | -7.61% |
ITP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 12, 2013 | Nov 26, 2013 | Dec 16, 2013 | $0.0500 | 0.207% |
| 2 | Apr 04, 2013 | Apr 12, 2013 | Apr 30, 2013 | $0.130 | 0.723% |
| 3 | Dec 06, 2012 | Dec 13, 2012 | Dec 31, 2012 | $0.130 | 0.733% |
| 4 | Sep 04, 2012 | Sep 12, 2012 | Oct 01, 2012 | $0.130 | 0.660% |
| 5 | Jun 01, 2012 | Jun 13, 2012 | Jul 02, 2012 | $0.130 | 0.515% |
FAQ
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