Digital China Group Co., Ltd. Stock Forecast
Digital China Group Co., Ltd. stock upgraded from Strong Sell Candidate to Sell Candidate after Wednesday trading session.
(Updated on Jun 26, 2024)
The Digital China Group Co., Ltd. stock price gained 4.29% on the last trading day (Wednesday, 26th Jun 2024), rising from ¥21.92 to ¥22.86. During the last trading day the stock fluctuated 5.08% from a day low at ¥21.83 to a day high of ¥22.94. The price has fallen in 6 of the last 10 days and is down by -19.48% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 23 million shares were bought and sold for approximately ¥536.99 million.
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 ¥21.86 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -10.05% during the next 3 months and, with a 90% probability hold a price between ¥19.67 and ¥26.43 at the end of this 3-month period.
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000034.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 4.29%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Digital China Group 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 ¥23.18 and ¥27.99. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Digital China Group Co., Ltd. stock
Digital China Group Co., Ltd. finds support from accumulated volume at ¥22.56 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ¥1.11 between high and low, or 5.08%. For the last week, the stock has had daily average volatility of 12.80%.
Digital China Group Co., Ltd. is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000034.SZ) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Digital China Group Co., Ltd. to open at ¥22.54, and during the day (based on 14 day Average True Range), to move between ¥20.72 and ¥25.00, which gives a possible trading interval of +/-¥2.14 (+/-9.36%) up or down from last closing price. If Digital China Group Co., Ltd. takes out the full calculated possible swing range there will be an estimated 18.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥22.56 (1.31%) than the resistance at ¥24.20 (5.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Digital China Group Co., Ltd. stock A Buy?
Digital China Group 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: -2.456 Sell Candidate Upgraded
Predicted Opening Price for Digital China Group Co., Ltd. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ¥22.54 ( 1.39%) | ¥22.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000034.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.65 | 3.47% |
| R2 | 23.23 | 1.62% |
| R1 | 22.97 | 0.470% |
| Price | 22.86 | |
| S1 | 22.12 | -3.24% |
| S2 | 21.86 | -4.39% |
| S3 | 21.43 | -6.24% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 28.40 | 24.23% |
| R2 | 24.66 | 7.87% |
| R1 | 24.20 | 5.86% |
| Price | 22.86 | |
| S1 | 22.56 | -1.31% |
| S2 | 21.92 | -4.11% |
| S3 | 0 | - |
000034 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 06, 2024 | May 06, 2024 | May 06, 2024 | ¥0.446 | 1.45% |
| 2 | May 10, 2023 | May 10, 2023 | May 10, 2023 | ¥0.446 | 1.74% |
| 3 | May 05, 2022 | May 05, 2022 | May 05, 2022 | ¥0.192 | 1.35% |
| 4 | Apr 30, 2021 | Apr 30, 2021 | Apr 30, 2021 | ¥0.189 | 1.12% |
| 5 | Apr 30, 2020 | Apr 30, 2020 | Apr 30, 2020 | ¥0.210 | 0.85% |
FAQ
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