Tangrenshen Group Co Ltd Stock Forecast
Tangrenshen Group Co Ltd stock price up 1.15% on Friday
(Updated on May 10, 2024)
The Tangrenshen Group Co Ltd stock price gained 1.15% on the last trading day (Friday, 10th May 2024), rising from ¥6.09 to ¥6.16. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.65% from a day low at ¥6.02 to a day high of ¥6.24. The price has risen in 8 of the last 10 days and is up by 10.2% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 million more shares were traded than the day before. In total, 42 million shares were bought and sold for approximately ¥258.10 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Tangrenshen Group Co Ltd stock with a 90% probability to be traded between ¥5.23 and ¥6.33 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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002567.SZ Signals & Forecast
Mostly positive signals in the chart today. The Tangrenshen Group Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ¥5.96 and ¥5.95. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 15.57%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Tangrenshen Group Co Ltd stock
Tangrenshen Group Co Ltd finds support from accumulated volume at ¥5.93 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 ¥0.220 between high and low, or 3.65%. For the last week, the stock has had daily average volatility of 4.94%.
The Tangrenshen Group Co Ltd stock is extremely overbought on RSI14 (85). This increases the short-term risk substantially.
Our recommended stop-loss: ¥5.93 (-3.74%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 85 and this increases the risk substantially. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (002567.SZ) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Tangrenshen Group Co Ltd to open at ¥6.14, and during the day (based on 14 day Average True Range), to move between ¥5.85 and ¥6.47, which gives a possible trading interval of +/-¥0.311 (+/-5.05%) up or down from last closing price. If Tangrenshen Group Co Ltd takes out the full calculated possible swing range there will be an estimated 10.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥6.18 (0.32%) than the support at ¥5.93 (3.73%), 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 Tangrenshen Group Co Ltd stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Tangrenshen Group Co Ltd stock to perform well in the short-term period.
Current score: 2.600 Buy Candidate Unchanged
Predicted Opening Price for Tangrenshen Group Co Ltd of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ¥6.14 ( 0.325%) | ¥6.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002567.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.36 | 3.25 % | |
| R2 | 6.28 | 1.88 % | ||
| R1 | 6.22 | 1.04 % | ||
| Current price: | 6.16 | |||
| Support | S1 | 6.06 | -1.69 % | |
| S2 | 6.00 | -2.53 % | ||
| S3 | 5.92 | -3.90 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.25 | 1.46 % | |
| R2 | 6.21 | 0.81 % | ||
| R1 | 6.18 | 0.325 % | ||
| Current price | 6.16 | |||
| Support | S1 | 5.93 | -3.73% | |
| S2 | 5.72 | -7.14% | ||
| S3 | 5.66 | -8.12% |
002567 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 10, 2023 | Jul 10, 2023 | Jul 10, 2023 | ¥0.0370 | 0.529% |
| 2 | May 14, 2021 | May 14, 2021 | May 14, 2021 | ¥0.130 | 1.84% |
| 3 | Jun 19, 2020 | Jun 19, 2020 | Jun 19, 2020 | ¥0.230 | 2.56% |
| 4 | Jul 05, 2019 | Jul 05, 2019 | Jul 05, 2019 | ¥0.100 | 0.83% |
| 5 | Jun 14, 2018 | Jun 14, 2018 | Jun 14, 2018 | ¥0.150 | 3.04% |
FAQ
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