Guangdong Highsun Group Co.,Ltd. Stock Forecast
Volatile ride for Guangdong Highsun Group Co.,Ltd. stock price on Wednesday moving between ¥0.89 and ¥1.15
(Updated on Jun 26, 2024)
The Guangdong Highsun Group Co.,Ltd. stock price fell by -10.10% on the last day (Wednesday, 26th Jun 2024) from ¥0.99 to ¥0.89. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 29.21% from a day low at ¥0.89 to a day high of ¥1.15. The price has fallen in 8 of the last 10 days and is down by -26.45% for this period. Volume has increased on the last day by 113 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, 286 million shares were bought and sold for approximately ¥254.84 million.
The stock has broken the very wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point (¥1.05) are considered to be a "second chance" to get out. According to the fan-theory ¥0.640 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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000861.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Guangdong Highsun Group 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 ¥1.07 and ¥1.37. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -45.06%. 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.
A sell signal from a double top formation was found on Friday, May 17, 2024 with a target of ¥1.29. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Guangdong Highsun Group Co.,Ltd. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ¥0.260 between high and low, or 29.21%. For the last week, the stock has had daily average volatility of 15.68%.
Guangdong Highsun Group Co.,Ltd. is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000861.SZ) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Guangdong Highsun Group Co.,Ltd. to open at ¥0.98, and during the day (based on 14 day Average True Range), to move between ¥0.775 and ¥1.00, which gives a possible trading interval of +/-¥0.115 (+/-12.89%) up or down from last closing price. If Guangdong Highsun Group Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 25.79% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ¥0.99, some ¥0.1000 (11.24%) from the current price of ¥0.89, our system finds the risk reward not very attractive.
Is Guangdong Highsun Group Co.,Ltd. stock A Buy?
Guangdong Highsun Group Co.,Ltd. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -7.125 Strong Sell Candidate Unchanged
Predicted Opening Price for Guangdong Highsun Group Co.,Ltd. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ¥0.98 ( 9.74%) | ¥0.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000861.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.24 | 38.95% |
| R2 | 1.14 | 27.79% |
| R1 | 1.08 | 20.90% |
| Price | 0.89 | |
| S1 | 0.88 | -1.42% |
| S2 | 0.82 | -8.32% |
| S3 | 0.717 | -19.48% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.08 | 21.35% |
| R2 | 1.05 | 17.98% |
| R1 | 0.99 | 11.24% |
| Price | 0.89 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
000861 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 21, 2021 | Jul 21, 2021 | Jul 21, 2021 | ¥0.0100 | 0.502% |
| 2 | Jul 17, 2020 | Jul 17, 2020 | Jul 17, 2020 | ¥0.0100 | 0.291% |
| 3 | Jul 23, 2019 | Jul 23, 2019 | Jul 23, 2019 | ¥0.0166 | 0.614% |
| 4 | Jul 11, 2017 | Jul 11, 2017 | Jul 11, 2017 | ¥0.0100 | 0.269% |
| 5 | Aug 28, 2015 | Aug 28, 2015 | Aug 28, 2015 | ¥0.105 | 1.51% |
FAQ
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