CASIN Guoxing Property Devlopment Co Ltd Stock Forecast
Big movements in CASIN Guoxing Property Devlopment Co Ltd stock price on Friday moving 14.58% between high and low
(Updated on May 17, 2024)
The CASIN Guoxing Property Devlopment Co Ltd stock price gained 5.45% on the last trading day (Friday, 17th May 2024), rising from ¥3.12 to ¥3.29. 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 14.58% from a day low at ¥2.88 to a day high of ¥3.30. The price has risen in 8 of the last 10 days and is up by 12.29% 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, 9 million more shares were traded than the day before. In total, 46 million shares were bought and sold for approximately ¥151.78 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect CASIN Guoxing Property Devlopment Co Ltd stock with a 90% probability to be traded between ¥2.60 and ¥3.58 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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000838.SZ Signals & Forecast
Mostly positive signals in the chart today. The CASIN Guoxing Property Devlopment 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 ¥2.99 and ¥3.10. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 23.22%. 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 CASIN Guoxing Property Devlopment Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥3.04 and ¥3.00. 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, CASIN Guoxing Property Devlopment Co Ltd finds support just below today's level at ¥3.04. If this is broken, then the next support from accumulated volume will be at ¥3.00 and ¥2.89.
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 ¥0.420 between high and low, or 14.58%. For the last week, the stock has had daily average volatility of 7.46%.
Our recommended stop-loss: ¥3.17 (-3.50%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (000838.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect CASIN Guoxing Property Devlopment Co Ltd to open at ¥3.16, and during the day (based on 14 day Average True Range), to move between ¥3.06 and ¥3.52, which gives a possible trading interval of +/-¥0.225 (+/-6.85%) up or down from last closing price. If CASIN Guoxing Property Devlopment Co Ltd takes out the full calculated possible swing range there will be an estimated 13.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥3.46 (5.17%) than the support at ¥3.04 (7.60%), 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 CASIN Guoxing Property Devlopment Co Ltd stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for CASIN Guoxing Property Devlopment Co Ltd stock to perform well in the short-term period. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 4.362 Buy Candidate Downgraded
Predicted Opening Price for CASIN Guoxing Property Devlopment Co Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥3.16 ( 4.05%) | ¥3.29 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000838.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.58 | 8.71 % | |
| R2 | 3.42 | 3.84 % | ||
| R1 | 3.32 | 0.82 % | ||
| Current price: | 3.29 | |||
| Support | S1 | 3.00 | -8.93 % | |
| S2 | 2.90 | -11.94 % | ||
| S3 | 2.74 | -16.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.68 | 11.85 % | |
| R2 | 3.61 | 9.73 % | ||
| R1 | 3.46 | 5.17 % | ||
| Current price | 3.29 | |||
| Support | S1 | 3.04 | -7.60% | |
| S2 | 3.00 | -8.81% | ||
| S3 | 2.89 | -12.16% |
000838 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 14, 2021 | May 14, 2021 | May 14, 2021 | ¥0.0210 | 0.739% |
| 2 | May 21, 2020 | May 21, 2020 | May 21, 2020 | ¥0.132 | 5.10% |
| 3 | Jul 05, 2019 | Jul 05, 2019 | Jul 05, 2019 | ¥0.0210 | 0.544% |
| 4 | Apr 26, 2018 | Apr 26, 2018 | Apr 26, 2018 | ¥0.0360 | 0.742% |
| 5 | Apr 07, 2017 | Apr 07, 2017 | Apr 07, 2017 | ¥0.0210 | 0.268% |
FAQ
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