Beijing Creative Distributn Atmtn Co Ltd Stock Forecast
Big movements in Beijing Creative Distributn Atmtn Co Ltd stock price on Tuesday moving 10.08% between high and low
(Updated on Jun 18, 2024)
The Beijing Creative Distributn Atmtn Co Ltd stock price gained 5.08% on the last trading day (Tuesday, 18th Jun 2024), rising from ¥5.31 to ¥5.58. During the last trading day the stock fluctuated 10.08% from a day low at ¥5.16 to a day high of ¥5.68. The price has risen in 6 of the last 10 days and is up by 10.71% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 41 million shares were bought and sold for approximately ¥230.28 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is ¥5.33, a level that may pose a second chance to hit a runner. According to fan-theory ¥6.39 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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002350.SZ Signals & Forecast
The Beijing Creative Distributn Atmtn Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥5.02 and ¥5.11. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 23.45%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A buy signal from a double bottom formation was found on Thursday, June 06, 2024 and based on theory for this formation the price should go up by 13.32% to ¥6.32 within 33 trading days since signal was issued (Thursday, June 20, 2024).
Support, Risk & Stop-loss for Beijing Creative Distributn Atmtn Co Ltd stock
Beijing Creative Distributn Atmtn Co Ltd finds support from accumulated volume at ¥5.54 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 ¥0.520 between high and low, or 10.08%. For the last week, the stock has had daily average volatility of 10.61%.
Our recommended stop-loss: ¥5.35 (-4.03%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (002350.SZ) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Beijing Creative Distributn Atmtn Co Ltd to open at ¥5.47, and during the day (based on 14 day Average True Range), to move between ¥5.19 and ¥5.97, which gives a possible trading interval of +/-¥0.395 (+/-7.07%) up or down from last closing price. If Beijing Creative Distributn Atmtn Co Ltd takes out the full calculated possible swing range there will be an estimated 14.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥5.60 (0.36%) than the support at ¥5.54 (0.72%), 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 Beijing Creative Distributn Atmtn Co Ltd stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.764 Buy Candidate Upgraded
Predicted Opening Price for Beijing Creative Distributn Atmtn Co Ltd of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| ¥5.47 ( 1.91%) | ¥5.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002350.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.99 | 7.41% |
| R2 | 5.79 | 3.85% |
| R1 | 5.67 | 1.65% |
| Price | 5.58 | |
| S1 | 5.27 | -5.47% |
| S2 | 5.15 | -7.67% |
| S3 | 4.95 | -11.23% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.68 | 1.79% |
| R2 | 5.63 | 0.90% |
| R1 | 5.60 | 0.358% |
| Price | 5.58 | |
| S1 | 5.54 | -0.717% |
| S2 | 5.32 | -4.66% |
| S3 | 5.31 | -4.84% |
002350 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | ¥0.0100 | 0.139% |
| 2 | Jun 11, 2021 | Jun 11, 2021 | Jun 11, 2021 | ¥0.0710 | 1.41% |
| 3 | May 19, 2020 | May 19, 2020 | May 19, 2020 | ¥0.0545 | 1.09% |
| 4 | Jun 10, 2019 | Jun 10, 2019 | Jun 10, 2019 | ¥0.0545 | 1.02% |
| 5 | Sep 14, 2018 | Sep 14, 2018 | Sep 14, 2018 | ¥0.0545 | 0.98% |
FAQ
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