China West Construction Group Co Ltd Stock Forecast
China West Construction Group Co Ltd stock price down 2.15% on Tuesday
(Updated on Apr 30, 2024)
The China West Construction Group Co Ltd stock price fell by -2.15% on the last day (Tuesday, 30th Apr 2024) from ¥6.06 to ¥5.93. During the last trading day the stock fluctuated 4.66% from a day low at ¥5.80 to a day high of ¥6.07. The price has risen in 6 of the last 10 days but is still down by -10.02% 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 -8 million shares and in total, 14 million shares were bought and sold for approximately ¥83.37 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥5.75 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 3.20% during the next 3 months and, with a 90% probability hold a price between ¥5.94 and ¥7.15 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
002302.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 1.72%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The China West Construction Group 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 ¥5.97 and ¥6.52. A break-up above any of these levels will issue buy signals. 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 China West Construction Group Co Ltd stock
China West Construction Group Co Ltd finds support from accumulated volume at ¥5.84 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 ¥0.270 between high and low, or 4.66%. For the last week, the stock has had daily average volatility of 12.00%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002302.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect China West Construction Group Co Ltd to open at ¥5.93, and during the day (based on 14 day Average True Range), to move between ¥5.51 and ¥6.35, which gives a possible trading interval of +/-¥0.423 (+/-7.13%) up or down from last closing price. If China West Construction Group Co Ltd takes out the full calculated possible swing range there will be an estimated 14.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥6.00 (1.18%) than the support at ¥5.84 (1.52%), 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 China West Construction Group Co Ltd stock A Buy?
The China West Construction Group Co Ltd stock holds several negative signals and despite the positive trend, we believe China West Construction Group Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.359 Sell Candidate Unchanged
Predicted Opening Price for China West Construction Group Co Ltd of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥5.93 ( 0.0562%) | ¥5.93 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002302.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.20 | 4.61 % | |
| R2 | 6.10 | 2.87 % | ||
| R1 | 6.04 | 1.80 % | ||
| Current price: | 5.93 | |||
| Support | S1 | 5.83 | -1.68 % | |
| S2 | 5.77 | -2.76 % | ||
| S3 | 5.66 | -4.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.57 | 10.79 % | |
| R2 | 6.21 | 4.72 % | ||
| R1 | 6.00 | 1.18 % | ||
| Current price | 5.93 | |||
| Support | S1 | 5.84 | -1.52% | |
| S2 | 5.83 | -1.69% | ||
| S3 | 5.77 | -2.70% |
002302 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 26, 2023 | May 26, 2023 | May 26, 2023 | ¥0.0950 | 1.27% |
| 2 | May 25, 2022 | May 25, 2022 | May 25, 2022 | ¥0.0950 | 1.26% |
| 3 | May 25, 2021 | May 25, 2021 | May 25, 2021 | ¥0.0900 | 1.08% |
| 4 | May 28, 2020 | May 28, 2020 | May 28, 2020 | ¥0.0850 | 0.86% |
| 5 | Jun 06, 2019 | Jun 06, 2019 | Jun 06, 2019 | ¥0.0700 | 0.698% |
FAQ
Click here for our free guide on how to buy China West Construction Group Co Ltd Stock.
