Tangrenshen Group Co Ltd Stock Forecast
Tangrenshen Group Co Ltd stock price ended at ¥5.59 on Wednesday, after losing 1.06%.
(Updated on Jul 03, 2024)
The Tangrenshen Group Co Ltd stock price fell by -1.06% on the last day (Wednesday, 3rd Jul 2024) from ¥5.65 to ¥5.59. During the last trading day the stock fluctuated 5.59% from a day low at ¥5.37 to a day high of ¥5.67. The price has fallen in 6 of the last 10 days and is down by -2.95% 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 -11 million shares and in total, 30 million shares were bought and sold for approximately ¥169.57 million.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at ¥5.37 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Tangrenshen Group Co Ltd stock with a 90% probability to be traded between ¥5.46 and ¥7.35 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
A buy signal was issued from a pivot bottom point on Friday, June 28, 2024, and so far it has risen 4.29%. 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 Tangrenshen Group Co Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ¥6.31. On a fall, the stock will find some support from the short-term average at ¥5.49. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 Tangrenshen Group Co Ltd stock
Tangrenshen Group Co Ltd finds support from accumulated volume at ¥5.48 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ¥0.300 between high and low, or 5.59%. For the last week, the stock has had daily average volatility of 5.83%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002567.SZ) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Tangrenshen Group Co Ltd to open at ¥5.54, and during the day (based on 14 day Average True Range), to move between ¥5.23 and ¥5.95, which gives a possible trading interval of +/-¥0.362 (+/-6.47%) 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 12.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥5.66 (1.25%) than the support at ¥5.48 (1.97%), 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?
Tangrenshen Group Co Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.758 Sell Candidate Unchanged
Predicted Opening Price for Tangrenshen Group Co Ltd of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| ¥5.54 ( 0.83%) | ¥5.59 |
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 | |
|---|---|---|
| R3 | 5.84 | 4.53% |
| R2 | 5.73 | 2.48% |
| R1 | 5.66 | 1.22% |
| Price | 5.59 | |
| S1 | 5.43 | -2.88% |
| S2 | 5.36 | -4.15% |
| S3 | 5.24 | -6.20% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.98 | 24.87% |
| R2 | 6.43 | 15.03% |
| R1 | 5.66 | 1.25% |
| Price | 5.59 | |
| S1 | 5.48 | -1.97% |
| S2 | 5.40 | -3.40% |
| S3 | 5.33 | -4.65% |
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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