Guangdong Chaohua Technology Co.,Ltd Stock Forecast
Big movements in Guangdong Chaohua Technology Co.,Ltd stock price on Tuesday moving 10.26% between high and low
(Updated on Jun 25, 2024)
The Guangdong Chaohua Technology Co.,Ltd stock price fell by -4.88% on the last day (Tuesday, 25th Jun 2024) from ¥0.410 to ¥0.390. It has now fallen 10 days in a row. During the last trading day the stock fluctuated 10.26% from a day low at ¥0.390 to a day high of ¥0.430. The price has fallen in 10 of the last 10 days and is down by -41.79% for this period. Volume has increased on the last day by 27 thousand 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, 276 thousand shares were bought and sold for approximately ¥107.76 thousand.
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. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. 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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002288.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 Guangdong Chaohua Technology 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 ¥0.463 and ¥1.14. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -84.02%. Further fall is indicated until a new bottom pivot has been found. Guangdong Chaohua Technology Co.,Ltd gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Guangdong Chaohua Technology 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 ¥0.0400 between high and low, or 10.26%. For the last week, the stock has had daily average volatility of 15.50%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002288.SZ) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Guangdong Chaohua Technology Co.,Ltd to open at ¥0.403, and during the day (based on 14 day Average True Range), to move between ¥0.267 and ¥0.513, which gives a possible trading interval of +/-¥0.123 (+/-31.60%) up or down from last closing price. If Guangdong Chaohua Technology Co.,Ltd takes out the full calculated possible swing range there will be an estimated 63.20% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ¥0.410, some ¥0.0200 (5.13%) from the current price of ¥0.390, our system finds the risk reward not very attractive.
Is Guangdong Chaohua Technology Co.,Ltd stock A Buy?
Guangdong Chaohua Technology 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -6.164 Strong Sell Candidate Downgraded
Predicted Opening Price for Guangdong Chaohua Technology Co.,Ltd of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ¥0.403 ( 3.42%) | ¥0.390 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002288.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.443 | 13.68% |
| R2 | 0.428 | 9.76% |
| R1 | 0.419 | 7.34% |
| Price | 0.390 | |
| S1 | 0.388 | -0.499% |
| S2 | 0.379 | -2.92% |
| S3 | 0.363 | -6.84% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.450 | 15.38% |
| R2 | 0.430 | 10.26% |
| R1 | 0.410 | 5.13% |
| Price | 0.390 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
002288 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 27, 2016 | Jun 27, 2016 | Jun 27, 2016 | ¥0.0030 | 0.0320% |
| 2 | Jun 01, 2015 | Jun 01, 2015 | Jun 01, 2015 | ¥0.0100 | 0.0701% |
| 3 | May 15, 2014 | May 15, 2014 | May 15, 2014 | ¥0.0100 | 0.220% |
| 4 | Apr 25, 2013 | Apr 25, 2013 | Apr 25, 2013 | ¥0.0083 | 0.194% |
| 5 | Mar 22, 2012 | Mar 22, 2012 | Mar 22, 2012 | ¥0.0083 | 0.129% |
FAQ
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