Beijing Yanjing Brewery Co., Ltd. Stock Forecast
Stronger technical forecast for Beijing Yanjing Brewery Co., Ltd. stock price after Thursday trading.
(Updated on Mar 28, 2024)
The Beijing Yanjing Brewery Co., Ltd. stock price gained 0.658% on the last trading day (Thursday, 28th Mar 2024), rising from ¥9.12 to ¥9.18. During the last trading day the stock fluctuated 2.99% from a day low at ¥9.02 to a day high of ¥9.29. The price has been going up and down for this period, and there has been a 1.66% gain for the last 2 weeks. Volume fell on the last day by -232 thousand shares and in total, 17 million shares were bought and sold for approximately ¥152.23 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 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 10.74% during the next 3 months and, with a 90% probability hold a price between ¥9.35 and ¥10.43 at the end of this 3-month period.
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000729.SZ Signals & Forecast
The Beijing Yanjing Brewery 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 ¥9.16 and ¥8.84. A breakdown below any of these levels will issue sell signals. 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. 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 Tuesday, March 19, 2024, and so far it has fallen -1.40%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Beijing Yanjing Brewery Co., Ltd. stock
Beijing Yanjing Brewery Co., Ltd. finds support from accumulated volume at ¥8.87 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ¥0.270 between high and low, or 2.99%. For the last week, the stock has had daily average volatility of 2.98%.
Our recommended stop-loss: ¥8.86 (-3.46%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (000729.SZ) For The Upcoming Trading Day Of Friday 29th
For the upcoming trading day on Friday, 29th we expect Beijing Yanjing Brewery Co., Ltd. to open at ¥9.16, and during the day (based on 14 day Average True Range), to move between ¥8.93 and ¥9.43, which gives a possible trading interval of +/-¥0.251 (+/-2.73%) up or down from last closing price. If Beijing Yanjing Brewery Co., Ltd. takes out the full calculated possible swing range there will be an estimated 5.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥9.19 (0.11%) than the support at ¥8.87 (3.38%), 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.
Is Beijing Yanjing Brewery Co., Ltd. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Beijing Yanjing Brewery Co., Ltd. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.721 Buy Candidate Upgraded
Predicted Opening Price for Beijing Yanjing Brewery Co., Ltd. of Friday, March 29, 2024
Fair opening price March 29, 2024 | Current price |
---|---|
¥9.16 ( 0.182%) | ¥9.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000729.SZ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 9.43 | 2.76 % | |
R2 | 9.33 | 1.64 % | ||
R1 | 9.27 | 0.94 % | ||
Current price: | 9.18 | |||
Support | S1 | 9.06 | -1.31 % | |
S2 | 9.00 | -2.00 % | ||
S3 | 8.89 | -3.12 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 9.30 | 1.31 % | |
R2 | 9.26 | 0.87 % | ||
R1 | 9.19 | 0.109 % | ||
Current price | 9.18 | |||
Support | S1 | 8.87 | -3.38% | |
S2 | 8.76 | -4.58% | ||
S3 | 8.71 | -5.12% |
000729 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jul 04, 2023 | Jul 04, 2023 | Jul 04, 2023 | ¥0.0800 | 0.650% |
2 | Jul 14, 2022 | Jul 14, 2022 | Jul 14, 2022 | ¥0.0400 | 0.454% |
3 | Jul 14, 2021 | Jul 14, 2021 | Jul 14, 2021 | ¥0.0220 | 0.312% |
4 | Jul 10, 2020 | Jul 10, 2020 | Jul 10, 2020 | ¥0.0220 | 0.303% |
5 | Jul 15, 2019 | Jul 15, 2019 | Jul 15, 2019 | ¥0.0220 | 0.339% |
FAQ
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