Shantui Construction Machinery Co., Ltd. Stock Forecast
Volatile ride for Shantui Construction Machinery Co., Ltd. stock price on Thursday moving between ¥6.75 and ¥7.94
(Updated on Mar 28, 2024)
The Shantui Construction Machinery Co., Ltd. stock price gained 7.08% on the last trading day (Thursday, 28th Mar 2024), rising from ¥7.34 to ¥7.86. 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 17.63% from a day low at ¥6.75 to a day high of ¥7.94. The price has risen in 6 of the last 10 days and is up by 17.84% over the past 2 weeks. Volume fell on the last day by -7 million shares and in total, 78 million shares were bought and sold for approximately ¥611.83 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 has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ¥7.59, a level that may pose a second chance to hit a runner. According to fan-theory ¥8.67 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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000680.SZ Signals & Forecast
Mostly positive signals in the chart today. The Shantui Construction Machinery Co., Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ¥6.99 and ¥6.50. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 22, 2024, and so far it has risen 20.74%. 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 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.
Support, Risk & Stop-loss for Shantui Construction Machinery Co., Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥7.34 and ¥7.25. 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, Shantui Construction Machinery Co., Ltd. finds support just below today's level at ¥7.34. If this is broken, then the next support from accumulated volume will be at ¥7.25 and ¥6.34.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ¥1.19 between high and low, or 17.63%. For the last week, the stock has had daily average volatility of 9.11%.
Our recommended stop-loss: ¥7.61 (-3.14%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (000680.SZ) For The Upcoming Trading Day Of Friday 29th
For the upcoming trading day on Friday, 29th we expect Shantui Construction Machinery Co., Ltd. to open at ¥7.52, and during the day (based on 14 day Average True Range), to move between ¥7.47 and ¥8.25, which gives a possible trading interval of +/-¥0.387 (+/-4.92%) up or down from last closing price. If Shantui Construction Machinery Co., Ltd. takes out the full calculated possible swing range there will be an estimated 9.84% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ¥7.34, some ¥0.520 (6.62%) from the current price of ¥7.86, our system finds the risk reward attractive.
Is Shantui Construction Machinery Co., Ltd. stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Shantui Construction Machinery Co., Ltd. stock to perform well in the short-term period.
Current score: 8.087 Strong Buy Candidate Unchanged
Predicted Opening Price for Shantui Construction Machinery Co., Ltd. of Friday, March 29, 2024
Fair opening price March 29, 2024 | Current price |
---|---|
¥7.52 ( 4.37%) | ¥7.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000680.SZ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 8.71 | 10.77 % | |
R2 | 8.25 | 4.99 % | ||
R1 | 7.97 | 1.42 % | ||
Current price: | 7.86 | |||
Support | S1 | 7.06 | -10.15 % | |
S2 | 6.78 | -13.72 % | ||
S3 | 6.33 | -19.51 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 7.86 | |||
Support | S1 | 7.34 | -6.62% | |
S2 | 7.25 | -7.76% | ||
S3 | 6.34 | -19.34% |
000680 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 28, 2023 | Jun 28, 2023 | Jun 28, 2023 | ¥0.0760 | 1.37% |
2 | Jul 15, 2022 | Jul 15, 2022 | Jul 15, 2022 | ¥0.0150 | 0.275% |
3 | Oct 21, 2021 | Oct 21, 2021 | Oct 21, 2021 | ¥0.0100 | 0.249% |
4 | Jul 25, 2019 | Jul 25, 2019 | Jul 25, 2019 | ¥0.0200 | 0.506% |
5 | Jun 28, 2012 | Jun 28, 2012 | Jun 28, 2012 | ¥0.133 | 2.25% |
FAQ
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