Chang Jiang Shipping Group Phoenix Co. Stock Forecast
Chang Jiang Shipping Group Phoenix Co. stock price down 2.77% on Tuesday
(Updated on Apr 30, 2024)
The Chang Jiang Shipping Group Phoenix Co. stock price fell by -2.77% on the last day (Tuesday, 30th Apr 2024) from ¥2.53 to ¥2.46. During the last trading day the stock fluctuated 5.71% from a day low at ¥2.45 to a day high of ¥2.59. The price has fallen in 6 of the last 10 days and is down by -5.02% 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 -11 million shares and in total, 36 million shares were bought and sold for approximately ¥87.62 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥2.37 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 19.10% during the next 3 months and, with a 90% probability hold a price between ¥2.82 and ¥3.75 at the end of this 3-month period.
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000520.SZ Signals & Forecast
The Chang Jiang Shipping Group Phoenix Co. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ¥2.54. On a fall, the stock will find some support from the long-term average at approximately ¥2.45. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 0.82%. 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. 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.
Support, Risk & Stop-loss for Chang Jiang Shipping Group Phoenix Co. stock
Chang Jiang Shipping Group Phoenix Co. finds support from accumulated volume at ¥2.45 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 ¥0.140 between high and low, or 5.71%. For the last week, the stock has had daily average volatility of 10.73%.
Our recommended stop-loss: ¥2.32 (-5.72%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (000520.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Chang Jiang Shipping Group Phoenix Co. to open at ¥2.50, and during the day (based on 14 day Average True Range), to move between ¥2.22 and ¥2.70, which gives a possible trading interval of +/-¥0.239 (+/-9.72%) up or down from last closing price. If Chang Jiang Shipping Group Phoenix Co. takes out the full calculated possible swing range there will be an estimated 19.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥2.45 (0.41%) than the resistance at ¥2.55 (3.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Chang Jiang Shipping Group Phoenix Co. 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 Chang Jiang Shipping Group Phoenix Co. stock to perform well in the short-term.
Current score: 3.027 Buy Candidate Unchanged
Predicted Opening Price for Chang Jiang Shipping Group Phoenix Co. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥2.50 ( 1.63%) | ¥2.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000520.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.64 | 7.32 % | |
| R2 | 2.59 | 5.14 % | ||
| R1 | 2.55 | 3.80 % | ||
| Current price: | 2.46 | |||
| Support | S1 | 2.45 | -0.548 % | |
| S2 | 2.41 | -1.89 % | ||
| S3 | 2.36 | -4.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.81 | 14.23 % | |
| R2 | 2.78 | 13.01 % | ||
| R1 | 2.55 | 3.66 % | ||
| Current price | 2.46 | |||
| Support | S1 | 2.45 | -0.407% | |
| S2 | 2.44 | -0.81% | ||
| S3 | 2.35 | -4.47% |
000520 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 15, 2009 | Jun 15, 2009 | Jun 15, 2009 | ¥0.0280 | 0.763% |
| 2 | Jun 13, 2008 | Jun 13, 2008 | Jun 13, 2008 | ¥0.162 | 2.86% |
| 3 | Jun 25, 2007 | Jun 25, 2007 | Jun 25, 2007 | ¥0.0320 | 0.524% |
| 4 | May 15, 2006 | May 15, 2006 | May 15, 2006 | ¥0.140 | 7.61% |
| 5 | Jun 23, 2005 | Jun 23, 2005 | Jun 23, 2005 | ¥0.0600 | 1.66% |
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