Gui Zhou Tyre Co., Ltd. Stock Forecast
Weaker technical forecast for Gui Zhou Tyre Co., Ltd. as stock downgraded to Hold/Accumulate.
(Updated on Apr 30, 2024)
No changes to the price of Gui Zhou Tyre Co., Ltd. stock on the last trading day (Tuesday, 30th Apr 2024). During the last trading day the stock fluctuated 2.84% from a day low at ¥6.34 to a day high of ¥6.52. The price has risen in 5 of the last 10 days and is up by 5.58% over the past 2 weeks.
The stock lies in the middle of a wide and strong 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 16.79% during the next 3 months and, with a 90% probability hold a price between ¥6.66 and ¥8.02 at the end of this 3-month period.
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000589.SZ Signals & Forecast
The Gui Zhou Tyre Co., Ltd. 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 ¥6.45. On a fall, the stock will find some support from the long-term average at approximately ¥5.91. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). The volume rose on the last day while price remained unchanged. This may be an early warning and 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. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -4.74%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Gui Zhou Tyre Co., Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥5.74 and ¥5.52. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Gui Zhou Tyre Co., Ltd. finds support just below today's level at ¥5.74. If this is broken, then the next support from accumulated volume will be at ¥5.52 and ¥5.50.
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 ¥0.180 between high and low, or 2.84%. For the last week, the stock has had daily average volatility of 5.97%.
Our recommended stop-loss: ¥6.12 (-4.83%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (000589.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Gui Zhou Tyre Co., Ltd. to open at ¥6.43, and during the day (based on 14 day Average True Range), to move between ¥6.01 and ¥6.85, which gives a possible trading interval of +/-¥0.422 (+/-6.57%) up or down from last closing price. If Gui Zhou Tyre Co., Ltd. takes out the full calculated possible swing range there will be an estimated 13.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥6.49 (0.93%) than the support at ¥5.74 (10.73%), 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.
Earnings coming up
Gui Zhou Tyre Co., Ltd. will release earnings BMO on Monday, May 06, 2024. We will update the financials statements for Gui Zhou Tyre Co., Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.61% in the first trading day after earnings release.
Is Gui Zhou Tyre Co., Ltd. stock A Buy?
Gui Zhou Tyre Co., Ltd. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.749 Hold/Accumulate Downgraded
Predicted Opening Price for Gui Zhou Tyre Co., Ltd. of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
¥6.43 ( 0%) | ¥6.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000589.SZ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 6.61 | 2.80 % | |
R2 | 6.54 | 1.73 % | ||
R1 | 6.50 | 1.07 % | ||
Current price: | 6.43 | |||
Support | S1 | 6.36 | -1.07 % | |
S2 | 6.32 | -1.73 % | ||
S3 | 6.25 | -2.80 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 6.75 | 4.98 % | |
R2 | 6.69 | 4.04 % | ||
R1 | 6.49 | 0.93 % | ||
Current price | 6.43 | |||
Support | S1 | 5.74 | -10.73% | |
S2 | 5.52 | -14.15% | ||
S3 | 5.50 | -14.46% |
000589 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 08, 2023 | Jun 08, 2023 | Jun 08, 2023 | ¥0.200 | 3.86% |
2 | Apr 12, 2022 | Apr 12, 2022 | Apr 12, 2022 | ¥0.100 | 2.22% |
3 | Jun 11, 2021 | Jun 11, 2021 | Jun 11, 2021 | ¥0.125 | 2.54% |
4 | Jul 09, 2020 | Jul 09, 2020 | Jul 09, 2020 | ¥0.0333 | 0.91% |
5 | Sep 15, 2015 | Sep 15, 2015 | Sep 15, 2015 | ¥0.0333 | 0.754% |
FAQ
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