Shandong Ruyi Woolen Garment Grop Co Ltd Stock Forecast
Red day on Tuesday for Shandong Ruyi Woolen Garment Grop Co Ltd stock after losing 1.27%
(Updated on May 21, 2024)
The Shandong Ruyi Woolen Garment Grop Co Ltd stock price fell by -1.27% on the last day (Tuesday, 21st May 2024) from ¥3.93 to ¥3.88. During the last trading day the stock fluctuated 6.53% from a day low at ¥3.83 to a day high of ¥4.08. The price has fallen in 6 of the last 10 days and is down by -5.37% for this period. 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 -5 million shares and in total, 8 million shares were bought and sold for approximately ¥29.88 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -15.53% during the next 3 months and, with a 90% probability hold a price between ¥2.48 and ¥3.69 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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002193.SZ Signals & Forecast
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. The Shandong Ruyi Woolen Garment Grop 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 ¥3.99 and ¥4.03. 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 -5.60%. 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 Shandong Ruyi Woolen Garment Grop Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥3.67 and ¥3.42. 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, Shandong Ruyi Woolen Garment Grop Co Ltd finds support just below today's level at ¥3.67. If this is broken, then the next support from accumulated volume will be at ¥3.42 and ¥3.18.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ¥0.250 between high and low, or 6.53%. For the last week, the stock has had daily average volatility of 4.33%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002193.SZ) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Shandong Ruyi Woolen Garment Grop Co Ltd to open at ¥3.93, and during the day (based on 14 day Average True Range), to move between ¥3.57 and ¥4.19, which gives a possible trading interval of +/-¥0.308 (+/-7.94%) up or down from last closing price. If Shandong Ruyi Woolen Garment Grop Co Ltd takes out the full calculated possible swing range there will be an estimated 15.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥4.04 (4.12%) than the support at ¥3.67 (5.41%), 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 Shandong Ruyi Woolen Garment Grop Co Ltd stock A Buy?
Shandong Ruyi Woolen Garment Grop 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: -3.290 Sell Candidate Unchanged
Predicted Opening Price for Shandong Ruyi Woolen Garment Grop Co Ltd of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| ¥3.93 ( 1.29%) | ¥3.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002193.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.18 | 7.73 % | |
| R2 | 4.08 | 5.27 % | ||
| R1 | 4.03 | 3.75 % | ||
| Current price: | 3.88 | |||
| Support | S1 | 3.83 | -1.17 % | |
| S2 | 3.78 | -2.69 % | ||
| S3 | 3.68 | -5.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.47 | 15.21 % | |
| R2 | 4.30 | 10.82 % | ||
| R1 | 4.04 | 4.12 % | ||
| Current price | 3.88 | |||
| Support | S1 | 3.67 | -5.41% | |
| S2 | 3.42 | -11.86% | ||
| S3 | 3.18 | -18.04% |
002193 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 15, 2022 | Jul 15, 2022 | Jul 15, 2022 | ¥0.0110 | 0.177% |
| 2 | Jul 20, 2021 | Jul 20, 2021 | Jul 20, 2021 | ¥0.0100 | 0.178% |
| 3 | Jun 12, 2019 | Jun 12, 2019 | Jun 12, 2019 | ¥0.0500 | 0.583% |
| 4 | Jun 11, 2018 | Jun 11, 2018 | Jun 11, 2018 | ¥0.100 | 0.633% |
| 5 | Jun 06, 2017 | Jun 06, 2017 | Jun 06, 2017 | ¥0.0200 | 0.136% |
FAQ
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