Chongqing Fuling Zhacai Group Co., Ltd. Stock Forecast
Chongqing Fuling Zhacai Group Co., Ltd. stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on Jun 27, 2024)
The Chongqing Fuling Zhacai Group Co., Ltd. stock price fell by -2.15% on the last day (Thursday, 27th Jun 2024) from ¥12.56 to ¥12.29. During the last trading day the stock fluctuated 2.45% from a day low at ¥12.23 to a day high of ¥12.53. The price has fallen in 8 of the last 10 days and is down by -9.9% 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 -866 thousand shares and in total, 8 million shares were bought and sold for approximately ¥98.47 million.
Given the current horizontal trend, you can expect Chongqing Fuling Zhacai Group Co., Ltd. stock with a 90% probability to be traded between ¥12.21 and ¥14.74 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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002507.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Chongqing Fuling Zhacai 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 ¥12.46 and ¥13.80. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -17.46%. 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 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 Chongqing Fuling Zhacai Group 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 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 ¥0.300 between high and low, or 2.45%. For the last week, the stock has had daily average volatility of 3.38%.
Chongqing Fuling Zhacai Group Co., Ltd. is oversold on RSI14 (19). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002507.SZ) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Chongqing Fuling Zhacai Group Co., Ltd. to open at ¥12.35, and during the day (based on 14 day Average True Range), to move between ¥11.85 and ¥12.73, which gives a possible trading interval of +/-¥0.436 (+/-3.55%) up or down from last closing price. If Chongqing Fuling Zhacai Group Co., Ltd. takes out the full calculated possible swing range there will be an estimated 7.10% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ¥12.91, some ¥0.620 (5.04%) from the current price of ¥12.29, our system finds the risk reward not very attractive.
Is Chongqing Fuling Zhacai Group Co., Ltd. stock A Buy?
Chongqing Fuling Zhacai Group Co., Ltd. holds several negative signals and is within a 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 Hold/Accumulate to a Sell candidate.
Current score: -4.028 Sell Candidate Downgraded
Predicted Opening Price for Chongqing Fuling Zhacai Group Co., Ltd. of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| ¥12.35 ( 0.488%) | ¥12.29 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002507.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.65 | 2.93% |
| R2 | 12.54 | 2.00% |
| R1 | 12.46 | 1.42% |
| Price | 12.29 | |
| S1 | 12.24 | -0.444% |
| S2 | 12.16 | -1.02% |
| S3 | 12.05 | -1.95% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.21 | 15.62% |
| R2 | 14.02 | 14.08% |
| R1 | 12.91 | 5.04% |
| Price | 12.29 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
002507 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 18, 2024 | Jun 18, 2024 | Jun 18, 2024 | ¥0.300 | 2.37% |
| 2 | Jun 16, 2023 | Jun 16, 2023 | Jun 16, 2023 | ¥0.380 | 2.02% |
| 3 | May 18, 2022 | May 18, 2022 | May 18, 2022 | ¥0.350 | 1.30% |
| 4 | Oct 18, 2021 | Oct 18, 2021 | Oct 18, 2021 | ¥0.300 | 1.29% |
| 5 | Jun 18, 2020 | Jun 18, 2020 | Jun 18, 2020 | ¥0.300 | 1.13% |
FAQ
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