Changsha Tongcheng Holdings Co., Ltd. Stock Forecast
Changsha Tongcheng Holdings Co., Ltd. stock downgraded from Strong Buy Candidate to Buy Candidate after Friday trading session.
(Updated on May 17, 2024)
No changes to the price of Changsha Tongcheng Holdings Co., Ltd. stock on the last trading day (Friday, 17th May 2024). During the last trading day the stock fluctuated 1.88% from a day low at ¥4.78 to a day high of ¥4.87. The price has fallen in 5 of the last 10 days but is still up by 3.63% over the past 2 weeks.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 8.58% during the next 3 months and, with a 90% probability hold a price between ¥4.81 and ¥5.59 at the end of this 3-month period.
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000419.SZ Signals & Forecast
The Changsha Tongcheng Holdings Co., 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 ¥4.78 and ¥4.69. 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 Thursday, May 16, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.
Support, Risk & Stop-loss for Changsha Tongcheng Holdings Co., Ltd. stock
Changsha Tongcheng Holdings Co., Ltd. finds support from accumulated volume at ¥4.68 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 ¥0.0900 between high and low, or 1.88%. For the last week, the stock has had daily average volatility of 2.16%.
Our recommended stop-loss: ¥4.68 (-3.42%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 79 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (000419.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Changsha Tongcheng Holdings Co., Ltd. to open at ¥4.83, and during the day (based on 14 day Average True Range), to move between ¥4.68 and ¥5.02, which gives a possible trading interval of +/-¥0.173 (+/-3.57%) up or down from last closing price. If Changsha Tongcheng Holdings Co., Ltd. takes out the full calculated possible swing range there will be an estimated 7.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥4.93 (1.65%) than the support at ¥4.68 (3.51%), 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 Changsha Tongcheng Holdings Co., Ltd. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Changsha Tongcheng Holdings Co., Ltd. stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 3.103 Buy Candidate Downgraded
Predicted Opening Price for Changsha Tongcheng Holdings Co., Ltd. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥4.83 ( 0.344%) | ¥4.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000419.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.92 | 1.51 % | |
| R2 | 4.89 | 0.80 % | ||
| R1 | 4.87 | 0.365 % | ||
| Current price: | 4.85 | |||
| Support | S1 | 4.80 | -1.05 % | |
| S2 | 4.78 | -1.49 % | ||
| S3 | 4.74 | -2.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.00 | 3.09 % | |
| R2 | 4.95 | 2.06 % | ||
| R1 | 4.93 | 1.65 % | ||
| Current price | 4.85 | |||
| Support | S1 | 4.68 | -3.51% | |
| S2 | 4.56 | -5.98% | ||
| S3 | 4.44 | -8.45% |
000419 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 04, 2023 | Aug 04, 2023 | Aug 04, 2023 | ¥0.150 | 2.39% |
| 2 | Aug 11, 2022 | Aug 11, 2022 | Aug 11, 2022 | ¥0.160 | 3.29% |
| 3 | Aug 10, 2021 | Aug 10, 2021 | Aug 10, 2021 | ¥0.150 | 3.57% |
| 4 | Aug 23, 2019 | Aug 23, 2019 | Aug 23, 2019 | ¥0.160 | 3.76% |
| 5 | Jul 20, 2017 | Jul 20, 2017 | Jul 20, 2017 | ¥0.120 | 1.79% |
FAQ
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