Luoniushan Co Ltd Stock Forecast
Red day on Friday for Luoniushan Co Ltd stock after losing 1.81%
(Updated on May 31, 2024)
The Luoniushan Co Ltd stock price fell by -1.81% on the last day (Friday, 31st May 2024) from ¥4.98 to ¥4.89. During the last trading day the stock fluctuated 2.45% from a day low at ¥4.89 to a day high of ¥5.01. The price has fallen in 5 of the last 10 days and is down by -3.93% for this period. Volume has increased on the last day by 1 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 11 million shares were bought and sold for approximately ¥55.52 million.
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 -6.54% during the next 3 months and, with a 90% probability hold a price between ¥3.74 and ¥4.83 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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000735.SZ Signals & Forecast
The Luoniushan 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 ¥5.03. On a fall, the stock will find some support from the long-term average at approximately ¥4.88. 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. 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 Wednesday, May 22, 2024, and so far it has fallen -6.14%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Luoniushan Co Ltd stock
Luoniushan Co Ltd finds support from accumulated volume at ¥4.78 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ¥0.120 between high and low, or 2.45%. For the last week the stock has had daily average volatility of 2.78%.
Our recommended stop-loss: ¥4.66 (-4.73%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (000735.SZ) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Luoniushan Co Ltd to open at ¥4.93, and during the day (based on 14 day Average True Range), to move between ¥4.71 and ¥5.07, which gives a possible trading interval of +/-¥0.175 (+/-3.59%) up or down from last closing price. If Luoniushan Co Ltd takes out the full calculated possible swing range there will be an estimated 7.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥4.99 (2.04%) than the support at ¥4.78 (2.25%), 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 Luoniushan Co Ltd stock A Buy?
Luoniushan Co Ltd holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.571 Hold/Accumulate Unchanged
Predicted Opening Price for Luoniushan Co Ltd of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| ¥4.93 ( 0.82%) | ¥4.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000735.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.05 | 3.27 % | |
| R2 | 5.00 | 2.33 % | ||
| R1 | 4.98 | 1.76 % | ||
| Current price: | 4.89 | |||
| Support | S1 | 4.88 | -0.119 % | |
| S2 | 4.86 | -0.699 % | ||
| S3 | 4.81 | -1.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.21 | 6.54 % | |
| R2 | 5.17 | 5.73 % | ||
| R1 | 4.99 | 2.04 % | ||
| Current price | 4.89 | |||
| Support | S1 | 4.78 | -2.25% | |
| S2 | 4.62 | -5.52% | ||
| S3 | 4.47 | -8.59% |
000735 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 07, 2023 | Jun 07, 2023 | Jun 07, 2023 | ¥0.0200 | 0.294% |
| 2 | Jul 10, 2020 | Jul 10, 2020 | Jul 10, 2020 | ¥0.0200 | 0.179% |
| 3 | Jul 11, 2019 | Jul 11, 2019 | Jul 11, 2019 | ¥0.0200 | 0.216% |
| 4 | Nov 23, 2017 | Nov 23, 2017 | Nov 23, 2017 | ¥0.0200 | 0.284% |
| 5 | Mar 26, 2015 | Mar 26, 2015 | Mar 26, 2015 | ¥0.0200 | 0.222% |
FAQ
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