China Baoan Group Co.,Ltd Stock Forecast
Evaluation of China Baoan Group Co.,Ltd stock downgraded after the last trading session.
(Updated on Apr 30, 2024)
The China Baoan Group Co.,Ltd stock price fell by -1.68% on the last day (Tuesday, 30th Apr 2024) from ¥10.70 to ¥10.52. During the last trading day the stock fluctuated 3.60% from a day low at ¥10.29 to a day high of ¥10.66. The price has been going up and down for this period, and there has been a 4.47% gain 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 -8 million shares and in total, 16 million shares were bought and sold for approximately ¥172.81 million.
The stock lies in the middle of a 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 -11.21% during the next 3 months and, with a 90% probability hold a price between ¥8.73 and ¥9.62 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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000009.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 4.47%. 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 China Baoan Group Co.,Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ¥10.80. On a fall, the stock will find some support from the short-term average at ¥10.40. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 China Baoan Group Co.,Ltd stock
China Baoan Group Co.,Ltd finds support from accumulated volume at ¥10.44 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ¥0.370 (3.60%) between high and low. For the last week, the stock has had daily average volatility of 3.12%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000009.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect China Baoan Group Co.,Ltd to open at ¥10.49, and during the day (based on 14 day Average True Range), to move between ¥10.16 and ¥10.88, which gives a possible trading interval of +/-¥0.364 (+/-3.46%) up or down from last closing price. If China Baoan Group Co.,Ltd takes out the full calculated possible swing range there will be an estimated 6.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥10.44 (0.76%) than the resistance at ¥11.00 (4.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is China Baoan Group Co.,Ltd stock A Buy?
China Baoan Group Co.,Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.799 Sell Candidate Downgraded
Predicted Opening Price for China Baoan Group Co.,Ltd of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥10.49 ( 0.285%) | ¥10.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000009.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.86 | 3.23 % | |
| R2 | 10.72 | 1.89 % | ||
| R1 | 10.63 | 1.06 % | ||
| Current price: | 10.52 | |||
| Support | S1 | 10.35 | -1.63 % | |
| S2 | 10.26 | -2.46 % | ||
| S3 | 10.12 | -3.80 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.09 | 14.92 % | |
| R2 | 12.02 | 14.26 % | ||
| R1 | 11.00 | 4.56 % | ||
| Current price | 10.52 | |||
| Support | S1 | 10.44 | -0.760% | |
| S2 | 10.07 | -4.28% | ||
| S3 | 10.00 | -4.94% |
000009 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 03, 2023 | Aug 03, 2023 | Aug 03, 2023 | ¥0.0350 | 0.307% |
| 2 | Aug 31, 2022 | Aug 31, 2022 | Aug 31, 2022 | ¥0.0350 | 0.237% |
| 3 | Aug 26, 2021 | Aug 26, 2021 | Aug 26, 2021 | ¥0.0300 | 0.112% |
| 4 | Aug 13, 2020 | Aug 13, 2020 | Aug 13, 2020 | ¥0.0200 | 0.250% |
| 5 | Jul 22, 2019 | Jul 22, 2019 | Jul 22, 2019 | ¥0.0167 | 0.370% |
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