Anhui Ankai Automobile Co., Ltd Stock Forecast
Evaluation of Anhui Ankai Automobile Co., Ltd stock downgraded after the last trading session.
(Updated on May 22, 2024)
The Anhui Ankai Automobile Co., Ltd stock price fell by -0.215% on the last day (Wednesday, 22nd May 2024) from ¥4.66 to ¥4.65. During the last trading day the stock fluctuated 8.14% from a day low at ¥4.42 to a day high of ¥4.78. The price has fallen in 5 of the last 10 days but is still up by 5.92% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -12 million shares and in total, 47 million shares were bought and sold for approximately ¥220.42 million.
The stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ¥4.82 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Anhui Ankai Automobile Co., Ltd stock with a 90% probability to be traded between ¥3.83 and ¥4.80 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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000868.SZ Signals & Forecast
The Anhui Ankai Automobile Co., Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ¥4.56 and ¥4.42. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Tuesday, May 14, 2024, and so far it has fallen -1.90%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Anhui Ankai Automobile Co., Ltd stock
Anhui Ankai Automobile Co., Ltd finds support from accumulated volume at ¥4.53 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ¥0.360 between high and low, or 8.14%. For the last week, the stock has had daily average volatility of 5.72%.
Our recommended stop-loss: ¥4.47 (-3.97%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 23 days ago.)
Trading Expectations (000868.SZ) For The Upcoming Trading Day Of Thursday 23rd
For the upcoming trading day on Thursday, 23rd we expect Anhui Ankai Automobile Co., Ltd to open at ¥4.62, and during the day (based on 14 day Average True Range), to move between ¥4.40 and ¥4.90, which gives a possible trading interval of +/-¥0.250 (+/-5.37%) up or down from last closing price. If Anhui Ankai Automobile Co., Ltd takes out the full calculated possible swing range there will be an estimated 10.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥4.66 (0.22%) than the support at ¥4.53 (2.58%), 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 Anhui Ankai Automobile Co., Ltd stock A Buy?
Anhui Ankai Automobile Co., Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.210 Hold/Accumulate Downgraded
Predicted Opening Price for Anhui Ankai Automobile Co., Ltd of Thursday, May 23, 2024
| Fair opening price May 23, 2024 | Current price |
|---|---|
| ¥4.62 ( 0.717%) | ¥4.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000868.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.98 | 7.03 % | |
| R2 | 4.84 | 4.07 % | ||
| R1 | 4.75 | 2.24 % | ||
| Current price: | 4.65 | |||
| Support | S1 | 4.48 | -3.67 % | |
| S2 | 4.39 | -5.50 % | ||
| S3 | 4.26 | -8.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.84 | 4.09 % | |
| R2 | 4.74 | 1.94 % | ||
| R1 | 4.66 | 0.215 % | ||
| Current price | 4.65 | |||
| Support | S1 | 4.53 | -2.58% | |
| S2 | 4.51 | -3.01% | ||
| S3 | 4.46 | -4.09% |
000868 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 05, 2016 | Aug 05, 2016 | Aug 05, 2016 | ¥0.0200 | 0.296% |
| 2 | Jul 15, 2013 | Jul 15, 2013 | Jul 15, 2013 | ¥0.0600 | 1.33% |
| 3 | Jul 27, 2012 | Jul 27, 2012 | Jul 27, 2012 | ¥0.0500 | 1.31% |
| 4 | May 12, 2011 | May 12, 2011 | May 12, 2011 | ¥0.0125 | 0.236% |
| 5 | Aug 09, 2006 | Aug 09, 2006 | Aug 09, 2006 | ¥0.0223 | 1.67% |
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