Beijing Creative Distributn Atmtn Co Ltd Stock Forecast
High volatility in Beijing Creative Distributn Atmtn Co Ltd stock price on Friday which ended trading at ¥4.55
(Updated on Jun 07, 2024)
The Beijing Creative Distributn Atmtn Co Ltd stock price gained 0.664% on the last trading day (Friday, 7th Jun 2024), rising from ¥4.52 to ¥4.55. During the last trading day the stock fluctuated 16.44% from a day low at ¥4.50 to a day high of ¥5.24. The price has fallen in 6 of the last 10 days and is down by -11.48% for this period. Volume fell on the last day by -5 million shares and in total, 5 million shares were bought and sold for approximately ¥23.52 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 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 -8.74% during the next 3 months and, with a 90% probability hold a price between ¥3.84 and ¥4.88 at the end of this 3-month period.
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002350.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 0.664%. 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. The Beijing Creative Distributn Atmtn 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 ¥4.92 and ¥5.02. 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).
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 38.97% to ¥6.32 within 33 trading days since signal was issued (Tuesday, June 11, 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 ¥4.54 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 ¥0.740 between high and low, or 16.44%. For the last week, the stock has had daily average volatility of 11.25%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002350.SZ) For The Upcoming Trading Day Of Tuesday 11th
For the upcoming trading day on Tuesday, 11th we expect Beijing Creative Distributn Atmtn Co Ltd to open at ¥4.76, and during the day (based on 14 day Average True Range), to move between ¥4.19 and ¥4.91, which gives a possible trading interval of +/-¥0.357 (+/-7.86%) 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 15.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥4.54 (0.22%) than the resistance at ¥5.30 (16.48%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Beijing Creative Distributn Atmtn Co Ltd stock A Buy?
Beijing Creative Distributn Atmtn 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: -4.870 Sell Candidate Unchanged
Predicted Opening Price for Beijing Creative Distributn Atmtn Co Ltd of Tuesday, June 11, 2024
| Fair opening price June 11, 2024 | Current price |
|---|---|
| ¥4.76 ( 4.69%) | ¥4.55 |
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 | 5.50 | 20.95% |
| R2 | 5.22 | 14.74% |
| R1 | 5.05 | 10.90% |
| Price | 4.55 | |
| S1 | 4.48 | -1.52% |
| S2 | 4.31 | -5.36% |
| S3 | 4.02 | -11.58% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.48 | 20.44% |
| R2 | 5.32 | 16.92% |
| R1 | 5.30 | 16.48% |
| Price | 4.55 | |
| S1 | 4.54 | -0.220% |
| S2 | 4.52 | -0.659% |
| S3 | 4.50 | -1.10% |
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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