Shanxi Road & Bridge Co Ltd Stock Forecast
Green day on Friday for Shanxi Road & Bridge Co Ltd
(Updated on May 17, 2024)
The Shanxi Road & Bridge Co Ltd stock price gained 1.09% on the last trading day (Friday, 17th May 2024), rising from ¥4.59 to ¥4.64. During the last trading day the stock fluctuated 1.31% from a day low at ¥4.58 to a day high of ¥4.64. The price has been going up and down for this period, and there has been a -0.43% loss for the last 2 weeks. Volume fell on the last day by -2 million shares and in total, 3 million shares were bought and sold for approximately ¥12.74 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 lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥4.60 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 6.37% during the next 3 months and, with a 90% probability hold a price between ¥4.89 and ¥5.33 at the end of this 3-month period.
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000755.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 16, 2024, and so far it has risen 1.09%. Further rise is indicated until a new top pivot has been found. 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. The Shanxi Road & Bridge Co Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ¥4.64 and ¥4.65. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Shanxi Road & Bridge Co Ltd stock
Shanxi Road & Bridge Co Ltd finds support from accumulated volume at ¥4.63 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 ¥0.0600 between high and low, or 1.31%. For the last week the stock has had daily average volatility of 2.35%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000755.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Shanxi Road & Bridge Co Ltd to open at ¥4.62, and during the day (based on 14 day Average True Range), to move between ¥4.50 and ¥4.78, which gives a possible trading interval of +/-¥0.141 (+/-3.03%) up or down from last closing price. If Shanxi Road & Bridge Co Ltd takes out the full calculated possible swing range there will be an estimated 6.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥4.63 (0.22%) than the resistance at ¥4.68 (0.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Shanxi Road & Bridge Co Ltd stock A Buy?
The Shanxi Road & Bridge Co Ltd stock holds several negative signals and despite the positive trend, we believe Shanxi Road & Bridge Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.930 Sell Candidate Unchanged
Predicted Opening Price for Shanxi Road & Bridge Co Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥4.62 ( 0.431%) | ¥4.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000755.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.68 | 0.86 % | |
| R2 | 4.66 | 0.368 % | ||
| R1 | 4.64 | 0.0629 % | ||
| Current price: | 4.64 | |||
| Support | S1 | 4.60 | -0.92 % | |
| S2 | 4.58 | -1.23 % | ||
| S3 | 4.56 | -1.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.90 | 5.60 % | |
| R2 | 4.75 | 2.37 % | ||
| R1 | 4.68 | 0.86 % | ||
| Current price | 4.64 | |||
| Support | S1 | 4.63 | -0.216% | |
| S2 | 4.54 | -2.16% | ||
| S3 | 4.41 | -4.96% |
000755 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 21, 2008 | Apr 21, 2008 | Apr 21, 2008 | ¥0.125 | 0.94% |
| 2 | Apr 24, 2007 | Apr 24, 2007 | Apr 24, 2007 | ¥0.125 | 0.638% |
| 3 | Apr 08, 2003 | Apr 08, 2003 | Apr 08, 2003 | ¥0.104 | 1.61% |
| 4 | May 31, 2002 | May 31, 2002 | May 31, 2002 | ¥0.104 | 1.41% |
| 5 | May 18, 2001 | May 18, 2001 | May 18, 2001 | ¥0.125 | 1.22% |
FAQ
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