China National Complete Import & Export Stock Forecast
Weaker technical forecast for China National Complete Import & Export as stock downgraded to Sell Candidate.
(Updated on Jul 03, 2024)
The China National Complete Import & Export stock price fell by -2.11% on the last day (Wednesday, 3rd Jul 2024) from ¥10.45 to ¥10.23. During the last trading day the stock fluctuated 2.85% from a day low at ¥10.16 to a day high of ¥10.45. The price has risen in 6 of the last 10 days but is still down by -4.3% for this period. 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 -2 million shares and in total, 6 million shares were bought and sold for approximately ¥62.25 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at ¥10.11 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect China National Complete Import & Export stock with a 90% probability to be traded between ¥10.09 and ¥11.64 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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000151.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 1.19%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The China National Complete Import & Export 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 ¥10.32 and ¥10.78. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A sell signal from a double top formation was found on Tuesday, June 04, 2024 with a target of ¥10.40. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for China National Complete Import & Export stock
China National Complete Import & Export finds support from accumulated volume at ¥10.22 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ¥0.290 between high and low, or 2.85%. For the last week, the stock has had daily average volatility of 4.06%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000151.SZ) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect China National Complete Import & Export to open at ¥10.28, and during the day (based on 14 day Average True Range), to move between ¥9.54 and ¥10.92, which gives a possible trading interval of +/-¥0.689 (+/-6.73%) up or down from last closing price. If China National Complete Import & Export takes out the full calculated possible swing range there will be an estimated 13.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥10.22 (0.10%) than the resistance at ¥10.39 (1.56%), 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 National Complete Import & Export stock A Buy?
China National Complete Import & Export holds several negative signals and is within a 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. 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: -1.254 Sell Candidate Downgraded
Predicted Opening Price for China National Complete Import & Export of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| ¥10.28 ( 0.489%) | ¥10.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000151.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.57 | 3.32% |
| R2 | 10.46 | 2.24% |
| R1 | 10.39 | 1.57% |
| Price | 10.23 | |
| S1 | 10.17 | -0.594% |
| S2 | 10.10 | -1.26% |
| S3 | 9.99 | -2.35% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.45 | 11.93% |
| R2 | 10.58 | 3.42% |
| R1 | 10.39 | 1.56% |
| Price | 10.23 | |
| S1 | 10.22 | -0.0978% |
| S2 | 10.11 | -1.17% |
| S3 | 10.07 | -1.56% |
000151 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 11, 2020 | Jun 11, 2020 | Jun 11, 2020 | ¥0.0200 | 0.229% |
| 2 | Jun 20, 2019 | Jun 20, 2019 | Jun 20, 2019 | ¥0.200 | 1.67% |
| 3 | Jun 14, 2018 | Jun 14, 2018 | Jun 14, 2018 | ¥0.250 | 2.01% |
| 4 | Jun 16, 2017 | Jun 16, 2017 | Jun 16, 2017 | ¥0.300 | 1.53% |
| 5 | Jun 16, 2016 | Jun 16, 2016 | Jun 16, 2016 | ¥0.400 | 2.38% |
FAQ
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