Tianrun Crankshaft Co Ltd Stock Forecast
Tianrun Crankshaft Co Ltd stock price took a fall of -7.49% on Thursday
(Updated on Apr 25, 2024)
The Tianrun Crankshaft Co Ltd stock price fell by -7.49% on the last day (Thursday, 25th Apr 2024) from ¥5.61 to ¥5.19. During the last trading day the stock fluctuated 8.45% from a day low at ¥5.09 to a day high of ¥5.52. The price has been going up and down for this period, and there has been a -6.15% loss for the last 2 weeks. Volume has increased on the last day by 34 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, 50 million shares were bought and sold for approximately ¥258.97 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 13.18% during the next 3 months and, with a 90% probability hold a price between ¥5.45 and ¥6.90 at the end of this 3-month period.
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002283.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Tianrun Crankshaft 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 ¥5.47 and ¥5.50. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 18, 2024, and so far it has fallen -10.21%. 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.
Support, Risk & Stop-loss for Tianrun Crankshaft Co Ltd stock
Tianrun Crankshaft Co Ltd finds support from accumulated volume at ¥4.96 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ¥0.430 (8.45%) between high and low. For the last week, the stock has had daily average volatility of 3.89%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002283.SZ) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Tianrun Crankshaft Co Ltd to open at ¥5.27, and during the day (based on 14 day Average True Range), to move between ¥4.96 and ¥5.42, which gives a possible trading interval of +/-¥0.227 (+/-4.38%) up or down from last closing price. If Tianrun Crankshaft Co Ltd takes out the full calculated possible swing range there will be an estimated 8.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥5.42 (4.43%) than the support at ¥4.96 (4.43%), 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 Tianrun Crankshaft Co Ltd stock A Buy?
The Tianrun Crankshaft Co Ltd stock holds several negative signals and despite the positive trend, we believe Tianrun Crankshaft Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -2.964 Sell Candidate Downgraded
Predicted Opening Price for Tianrun Crankshaft Co Ltd of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| ¥5.27 ( 1.48%) | ¥5.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002283.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.70 | 9.76 % | |
| R2 | 5.53 | 6.60 % | ||
| R1 | 5.43 | 4.64 % | ||
| Current price: | 5.19 | |||
| Support | S1 | 5.10 | -1.69 % | |
| S2 | 5.00 | -3.64 % | ||
| S3 | 4.84 | -6.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.63 | 8.48 % | |
| R2 | 5.48 | 5.59 % | ||
| R1 | 5.42 | 4.43 % | ||
| Current price | 5.19 | |||
| Support | S1 | 4.96 | -4.43% | |
| S2 | 4.53 | -12.72% | ||
| S3 | 4.18 | -19.46% |
002283 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 26, 2024 | Apr 26, 2024 | Apr 26, 2024 | ¥0.230 | 4.45% |
| 2 | Jul 12, 2023 | Jul 12, 2023 | Jul 12, 2023 | ¥0.0500 | 0.729% |
| 3 | Jul 08, 2022 | Jul 08, 2022 | Jul 08, 2022 | ¥0.100 | 1.54% |
| 4 | Jun 25, 2021 | Jun 25, 2021 | Jun 25, 2021 | ¥0.0500 | 0.88% |
| 5 | Jul 10, 2020 | Jul 10, 2020 | Jul 10, 2020 | ¥0.0350 | 0.746% |
FAQ
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