Zhongbai Holdings Group Co., Ltd. Stock Forecast
Big movements in Zhongbai Holdings Group Co., Ltd. stock price on Tuesday moving 11.75% between high and low
(Updated on Jun 25, 2024)
The Zhongbai Holdings Group Co., Ltd. stock price gained 10.00% on the last trading day (Tuesday, 25th Jun 2024), rising from ¥3.20 to ¥3.52. During the last trading day the stock fluctuated 11.75% from a day low at ¥3.15 to a day high of ¥3.52. The price has risen in 6 of the last 10 days and is up by 8.64% 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, 29 million more shares were traded than the day before. In total, 52 million shares were bought and sold for approximately ¥182.87 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ¥3.58 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -10.99% during the next 3 months and, with a 90% probability hold a price between ¥2.50 and ¥3.19 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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000759.SZ Signals & Forecast
Mostly positive signals in the chart today. The Zhongbai Holdings Group 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 ¥3.27 and ¥3.49. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 13.92%. 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 Zhongbai Holdings Group Co., Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥3.34 and ¥3.24. 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, Zhongbai Holdings Group Co., Ltd. finds support just below today's level at ¥3.34. If this is broken, then the next support from accumulated volume will be at ¥3.24 and ¥3.20.
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 ¥0.370 between high and low, or 11.75%. For the last week, the stock has had daily average volatility of 8.79%.
Our recommended stop-loss: ¥3.38 (-3.92%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (000759.SZ) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Zhongbai Holdings Group Co., Ltd. to open at ¥3.40, and during the day (based on 14 day Average True Range), to move between ¥3.28 and ¥3.76, which gives a possible trading interval of +/-¥0.240 (+/-6.83%) up or down from last closing price. If Zhongbai Holdings Group Co., Ltd. takes out the full calculated possible swing range there will be an estimated 13.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥3.59 (1.99%) than the support at ¥3.34 (5.11%), 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 Zhongbai Holdings Group Co., Ltd. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.543 Buy Candidate Upgraded
Predicted Opening Price for Zhongbai Holdings Group Co., Ltd. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ¥3.40 ( 3.50%) | ¥3.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000759.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.77 | 7.01% |
| R2 | 3.63 | 2.99% |
| R1 | 3.54 | 0.512% |
| Price | 3.52 | |
| S1 | 3.26 | -7.52% |
| S2 | 3.17 | -10.00% |
| S3 | 3.03 | -14.02% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.99 | 13.35% |
| R2 | 3.93 | 11.65% |
| R1 | 3.59 | 1.99% |
| Price | 3.52 | |
| S1 | 3.34 | -5.11% |
| S2 | 3.24 | -7.95% |
| S3 | 3.20 | -9.09% |
000759 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 28, 2021 | May 28, 2021 | May 28, 2021 | ¥0.0500 | 0.96% |
| 2 | Jul 09, 2020 | Jul 09, 2020 | Jul 09, 2020 | ¥0.0500 | 0.700% |
| 3 | May 22, 2019 | May 22, 2019 | May 22, 2019 | ¥0.0500 | 0.634% |
| 4 | May 11, 2018 | May 11, 2018 | May 11, 2018 | ¥0.0600 | 0.757% |
| 5 | Jun 19, 2017 | Jun 19, 2017 | Jun 19, 2017 | ¥0.0800 | 0.94% |
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