Xinjiang Tianshan Cement Co., Ltd. Stock Forecast
Red day on Monday for Xinjiang Tianshan Cement Co., Ltd.
(Updated on May 06, 2024)
The Xinjiang Tianshan Cement Co., Ltd. stock price fell by -0.311% on the last day (Monday, 6th May 2024) from ¥6.44 to ¥6.42. During the last trading day the stock fluctuated 7.33% from a day low at ¥6.41 to a day high of ¥6.88. The price has been going up and down for this period, and there has been a -5.59% loss for the last 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 -13 million shares and in total, 24 million shares were bought and sold for approximately ¥153.21 million.
The stock has broken the 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 (¥6.44) are considered to be a "second chance" to get out. According to the fan-theory ¥5.89 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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000877.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Xinjiang Tianshan Cement 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 ¥6.58 and ¥6.80. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -8.29%. 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 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 Xinjiang Tianshan Cement 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 is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ¥0.470 (7.33%) between high and low. For the last week, the stock has had daily average volatility of 5.96%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000877.SZ) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Xinjiang Tianshan Cement Co., Ltd. to open at ¥6.57, and during the day (based on 14 day Average True Range), to move between ¥6.14 and ¥6.70, which gives a possible trading interval of +/-¥0.275 (+/-4.29%) up or down from last closing price. If Xinjiang Tianshan Cement Co., Ltd. takes out the full calculated possible swing range there will be an estimated 8.57% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ¥6.80, some ¥0.380 (5.92%) from the current price of ¥6.42, our system finds the risk reward not very attractive.
Is Xinjiang Tianshan Cement Co., Ltd. stock A Buy?
Xinjiang Tianshan Cement Co., Ltd. holds several negative signals and is within a 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: -4.910 Sell Candidate Unchanged
Predicted Opening Price for Xinjiang Tianshan Cement Co., Ltd. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| ¥6.57 ( 2.34%) | ¥6.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000877.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.04 | 9.66 % | |
| R2 | 6.86 | 6.86 % | ||
| R1 | 6.75 | 5.13 % | ||
| Current price: | 6.42 | |||
| Support | S1 | 6.39 | -0.460 % | |
| S2 | 6.28 | -2.19 % | ||
| S3 | 6.10 | -4.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.38 | 14.95 % | |
| R2 | 7.07 | 10.12 % | ||
| R1 | 6.80 | 5.92 % | ||
| Current price | 6.42 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
000877 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 02, 2023 | Jun 02, 2023 | Jun 02, 2023 | ¥0.270 | 3.23% |
| 2 | Jun 08, 2022 | Jun 08, 2022 | Jun 08, 2022 | ¥0.330 | 2.76% |
| 3 | May 26, 2021 | May 26, 2021 | May 26, 2021 | ¥0.480 | 3.12% |
| 4 | Jun 05, 2020 | Jun 05, 2020 | Jun 05, 2020 | ¥0.510 | 4.02% |
| 5 | May 29, 2019 | May 29, 2019 | May 29, 2019 | ¥0.380 | 3.59% |
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