Zhongrun Resources Investment Corp Stock Forecast
Volatile ride for Zhongrun Resources Investment Corp stock price on Wednesday moving between ¥1.08 and ¥1.32
(Updated on Jun 26, 2024)
The Zhongrun Resources Investment Corp stock price fell by -5.26% on the last day (Wednesday, 26th Jun 2024) from ¥1.14 to ¥1.08. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 22.22% from a day low at ¥1.08 to a day high of ¥1.32. The price has fallen in 7 of the last 10 days and is down by -14.96% for this period. Volume has increased on the last day by 127 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 4 million shares were bought and sold for approximately ¥4.57 million.
The stock lies in the middle of a very 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 -68.52% during the next 3 months and, with a 90% probability hold a price between ¥0.149 and ¥0.781 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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000506.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 3.85%. 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 Zhongrun Resources Investment Corp 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 ¥1.14 and ¥2.13. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Zhongrun Resources Investment Corp stock
Zhongrun Resources Investment Corp finds support from accumulated volume at ¥1.04 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ¥0.240 between high and low, or 22.22%. For the last week, the stock has had daily average volatility of 14.74%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000506.SZ) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Zhongrun Resources Investment Corporation to open at ¥1.16, and during the day (based on 14 day Average True Range), to move between ¥0.81 and ¥1.35, which gives a possible trading interval of +/-¥0.272 (+/-25.14%) up or down from last closing price. If Zhongrun Resources Investment Corporation takes out the full calculated possible swing range there will be an estimated 50.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥1.09 (0.93%) than the support at ¥1.04 (3.70%), 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 Zhongrun Resources Investment Corporation stock A Buy?
Zhongrun Resources Investment Corp 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.
Current score: -2.868 Sell Candidate Unchanged
Predicted Opening Price for Zhongrun Resources Investment Corporation of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ¥1.16 ( 7.41%) | ¥1.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000506.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.40 | 29.63% |
| R2 | 1.31 | 21.14% |
| R1 | 1.25 | 15.90% |
| Price | 1.08 | |
| S1 | 1.07 | -1.08% |
| S2 | 1.01 | -6.33% |
| S3 | 0.92 | -14.81% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.26 | 16.67% |
| R2 | 1.20 | 11.11% |
| R1 | 1.09 | 0.93% |
| Price | 1.08 | |
| S1 | 1.04 | -3.70% |
| S2 | 0 | - |
| S3 | 0 | - |
000506 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 22, 2014 | Aug 22, 2014 | Aug 22, 2014 | ¥0.0250 | 0.450% |
| 2 | May 17, 2013 | May 17, 2013 | May 17, 2013 | ¥0.0500 | 0.81% |
| 3 | Aug 24, 1995 | Aug 24, 1995 | Aug 24, 1995 | ¥0.0756 | 3.42% |
FAQ
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