Chongqing Sanxia Paints Co Ltd Stock Forecast
Chongqing Sanxia Paints Co Ltd stock upgraded from Strong Sell Candidate to Sell Candidate after Tuesday trading session.
(Updated on Jun 25, 2024)
The Chongqing Sanxia Paints Co Ltd stock price gained 2.07% on the last trading day (Tuesday, 25th Jun 2024), rising from ¥3.87 to ¥3.95. During the last trading day the stock fluctuated 4.94% from a day low at ¥3.85 to a day high of ¥4.04. The price has fallen in 5 of the last 10 days and is down by -5.5% for this period. Volume fell on the last day by -2 million shares and in total, 3 million shares were bought and sold for approximately ¥12.83 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 -9.43% during the next 3 months and, with a 90% probability hold a price between ¥3.20 and ¥4.36 at the end of this 3-month period.
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000565.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 2.07%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Chongqing Sanxia Paints Co Ltd 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 ¥4.03 and ¥4.49. 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).
Support, Risk & Stop-loss for Chongqing Sanxia Paints Co Ltd stock
Chongqing Sanxia Paints Co Ltd finds support from accumulated volume at ¥3.92 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 ¥0.190 between high and low, or 4.94%. For the last week, the stock has had daily average volatility of 4.52%.
Chongqing Sanxia Paints Co Ltd is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000565.SZ) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Chongqing Sanxia Paints Co Ltd to open at ¥3.95, and during the day (based on 14 day Average True Range), to move between ¥3.72 and ¥4.18, which gives a possible trading interval of +/-¥0.228 (+/-5.78%) up or down from last closing price. If Chongqing Sanxia Paints Co Ltd takes out the full calculated possible swing range there will be an estimated 11.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥3.92 (0.76%) than the resistance at ¥4.08 (3.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Chongqing Sanxia Paints Co Ltd stock A Buy?
Chongqing Sanxia Paints Co Ltd 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.091 Sell Candidate Upgraded
Predicted Opening Price for Chongqing Sanxia Paints Co Ltd of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ¥3.95 ( 0.0844%) | ¥3.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000565.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.14 | 4.73% |
| R2 | 4.06 | 2.89% |
| R1 | 4.02 | 1.75% |
| Price | 3.95 | |
| S1 | 3.87 | -1.92% |
| S2 | 3.83 | -3.06% |
| S3 | 3.76 | -4.89% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.45 | 12.66% |
| R2 | 4.20 | 6.33% |
| R1 | 4.08 | 3.29% |
| Price | 3.95 | |
| S1 | 3.92 | -0.759% |
| S2 | 3.87 | -2.03% |
| S3 | 0 | - |
000565 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 07, 2024 | Jun 07, 2024 | Jun 07, 2024 | ¥0.0150 | 0.359% |
| 2 | Jun 07, 2023 | Jun 07, 2023 | Jun 07, 2023 | ¥0.0150 | 0.274% |
| 3 | May 10, 2022 | May 10, 2022 | May 10, 2022 | ¥0.0250 | 0.445% |
| 4 | May 25, 2021 | May 25, 2021 | May 25, 2021 | ¥0.0250 | 0.434% |
| 5 | Jun 19, 2020 | Jun 19, 2020 | Jun 19, 2020 | ¥0.0150 | 0.314% |
FAQ
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