China Union Holdings Ltd Stock Forecast
Red day on Monday for China Union Holdings Ltd stock after losing 2.31%
(Updated on May 20, 2024)
The China Union Holdings Ltd stock price fell by -2.31% on the last day (Monday, 20th May 2024) from ¥3.47 to ¥3.39. During the last trading day the stock fluctuated 5.42% from a day low at ¥3.32 to a day high of ¥3.50. The price has risen in 7 of the last 10 days and is up by 11.51% over the past 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 -9 million shares and in total, 24 million shares were bought and sold for approximately ¥82.31 million.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ¥3.47 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 5.88% during the next 3 months and, with a 90% probability hold a price between ¥3.02 and ¥3.68 at the end of this 3-month period.
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000036.SZ Signals & Forecast
The China Union Holdings 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 ¥3.31 and ¥2.99. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -2.31%. Further fall is indicated until a new bottom pivot has been found. 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 Union Holdings Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥2.99 and ¥2.96. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, China Union Holdings Ltd finds support just below today's level at ¥2.99. If this is broken, then the next support from accumulated volume will be at ¥2.96 and ¥2.90.
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 ¥0.180 between high and low, or 5.42%. For the last week, the stock has had daily average volatility of 9.32%.
Our recommended stop-loss: ¥3.27 (-3.59%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 22 days ago.)
Trading Expectations (000036.SZ) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect China Union Holdings Ltd to open at ¥3.40, and during the day (based on 14 day Average True Range), to move between ¥3.22 and ¥3.56, which gives a possible trading interval of +/-¥0.170 (+/-5.02%) up or down from last closing price. If China Union Holdings Ltd takes out the full calculated possible swing range there will be an estimated 10.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥3.47 (2.36%) than the support at ¥2.99 (11.80%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is China Union Holdings Ltd stock A Buy?
China Union Holdings 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: 0.578 Hold/Accumulate Unchanged
Predicted Opening Price for China Union Holdings Ltd of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ¥3.40 ( 0.393%) | ¥3.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000036.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.58 | 5.70 % | |
| R2 | 3.51 | 3.67 % | ||
| R1 | 3.47 | 2.42 % | ||
| Current price: | 3.39 | |||
| Support | S1 | 3.33 | -1.64 % | |
| S2 | 3.29 | -2.89 % | ||
| S3 | 3.22 | -4.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 3.47 | 2.36 % | ||
| Current price | 3.39 | |||
| Support | S1 | 2.99 | -11.80% | |
| S2 | 2.96 | -12.68% | ||
| S3 | 2.90 | -14.45% |
000036 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 08, 2023 | Jun 08, 2023 | Jun 08, 2023 | ¥0.0340 | 0.87% |
| 2 | Jul 15, 2022 | Jul 15, 2022 | Jul 15, 2022 | ¥0.0680 | 1.76% |
| 3 | Jul 14, 2021 | Jul 14, 2021 | Jul 14, 2021 | ¥0.230 | 5.11% |
| 4 | Jul 09, 2020 | Jul 09, 2020 | Jul 09, 2020 | ¥0.400 | 8.51% |
| 5 | Jun 28, 2019 | Jun 28, 2019 | Jun 28, 2019 | ¥0.462 | 9.03% |
FAQ
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