Gansu Shangfeng Cement Co Ltd Stock Forecast
Gansu Shangfeng Cement Co Ltd stock price up 2.17% on Friday
(Updated on May 17, 2024)
The Gansu Shangfeng Cement Co Ltd stock price gained 2.17% on the last trading day (Friday, 17th May 2024), rising from ¥7.39 to ¥7.55. It has now gained 4 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 7.39% from a day low at ¥7.04 to a day high of ¥7.56. The price has risen in 7 of the last 10 days and is up by 8.48% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 15 million shares were bought and sold for approximately ¥116.49 million.
The stockhas broken the falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is ¥7.40, a level that may pose a second chance to hit a runner. According to fan-theory ¥7.97 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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000672.SZ Signals & Forecast
The Gansu Shangfeng Cement Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥7.20 and ¥7.25. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 08, 2024, and so far it has risen 9.58%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Gansu Shangfeng Cement Co Ltd stock
Gansu Shangfeng Cement Co Ltd finds support from accumulated volume at ¥7.52 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ¥0.520 (7.39%) between high and low. For the last week, the stock has had daily average volatility of 4.33%.
Our recommended stop-loss: ¥7.26 (-3.78%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (000672.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Gansu Shangfeng Cement Co Ltd to open at ¥7.38, and during the day (based on 14 day Average True Range), to move between ¥7.25 and ¥7.85, which gives a possible trading interval of +/-¥0.297 (+/-3.93%) up or down from last closing price. If Gansu Shangfeng Cement Co Ltd takes out the full calculated possible swing range there will be an estimated 7.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥7.52 (0.40%) than the resistance at ¥7.60 (0.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Gansu Shangfeng Cement Co Ltd stock A Buy?
Gansu Shangfeng Cement 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Gansu Shangfeng Cement Co Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥7.38 ( 2.21%) | ¥7.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000672.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.90 | 4.68 % | |
| R2 | 7.70 | 2.05 % | ||
| R1 | 7.58 | 0.423 % | ||
| Current price: | 7.55 | |||
| Support | S1 | 7.18 | -4.84 % | |
| S2 | 7.06 | -6.46 % | ||
| S3 | 6.86 | -9.09 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.70 | 1.99 % | |
| R2 | 7.62 | 0.93 % | ||
| R1 | 7.60 | 0.662 % | ||
| Current price | 7.55 | |||
| Support | S1 | 7.52 | -0.397% | |
| S2 | 7.39 | -2.12% | ||
| S3 | 7.26 | -3.84% |
000672 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 23, 2023 | May 23, 2023 | May 23, 2023 | ¥0.350 | 3.49% |
| 2 | May 30, 2022 | May 30, 2022 | May 30, 2022 | ¥0.80 | 5.00% |
| 3 | May 31, 2021 | May 31, 2021 | May 31, 2021 | ¥0.708 | 4.22% |
| 4 | May 18, 2020 | May 18, 2020 | May 18, 2020 | ¥0.750 | 3.43% |
| 5 | May 20, 2019 | May 20, 2019 | May 20, 2019 | ¥0.333 | 3.40% |
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