Chang Jiang Shipping Group Phoenix Co. Stock Forecast
Volatile ride for Chang Jiang Shipping Group Phoenix Co. stock price on Tuesday moving between ¥2.28 and ¥2.60
(Updated on Jul 02, 2024)
The Chang Jiang Shipping Group Phoenix Co. stock price gained 10.17% on the last trading day (Tuesday, 2nd Jul 2024), rising from ¥2.36 to ¥2.60. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 14.04% from a day low at ¥2.28 to a day high of ¥2.60. The price has been going up and down for this period, and there has been a -1.52% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 62 million more shares were traded than the day before. In total, 94 million shares were bought and sold for approximately ¥243.54 million.
The stock lies in the middle of a very 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 5.51% during the next 3 months and, with a 90% probability hold a price between ¥2.43 and ¥3.70 at the end of this 3-month period.
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000520.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 13.54%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Chang Jiang Shipping Group Phoenix Co. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ¥2.88. On a fall, the stock will find some support from the short-term average at ¥2.38. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Chang Jiang Shipping Group Phoenix Co. stock
Chang Jiang Shipping Group Phoenix Co. finds support from accumulated volume at ¥2.59 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 ¥0.320 between high and low, or 14.04%. For the last week, the stock has had daily average volatility of 11.95%.
Our recommended stop-loss: ¥2.45 (-5.80%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (000520.SZ) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Chang Jiang Shipping Group Phoenix Co. to open at ¥2.49, and during the day (based on 14 day Average True Range), to move between ¥2.29 and ¥2.91, which gives a possible trading interval of +/-¥0.313 (+/-12.04%) 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 24.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥2.59 (0.38%) than the resistance at ¥2.78 (6.92%), 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?
Chang Jiang Shipping Group Phoenix Co. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.647 Hold/Accumulate Upgraded
Predicted Opening Price for Chang Jiang Shipping Group Phoenix Co. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| ¥2.49 ( 4.10%) | ¥2.60 |
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 | |
|---|---|---|
| R3 | 2.81 | 8.21% |
| R2 | 2.69 | 3.50% |
| R1 | 2.62 | 0.599% |
| Price | 2.60 | |
| S1 | 2.37 | -8.80% |
| S2 | 2.30 | -11.71% |
| S3 | 2.17 | -16.41% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.02 | 16.15% |
| R2 | 2.96 | 13.85% |
| R1 | 2.78 | 6.92% |
| Price | 2.60 | |
| S1 | 2.59 | -0.385% |
| S2 | 2.55 | -1.92% |
| S3 | 2.35 | -9.62% |
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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