Xiamen Sunrise Wheel Group Co Ltd Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Big movements in Xiamen Sunrise Wheel Group Co Ltd stock price on Friday moving 22.38% between high and low
(Updated on Jun 21, 2024)
The Xiamen Sunrise Wheel Group Co Ltd stock price gained 10.06% on the last trading day (Friday, 21st Jun 2024), rising from ¥3.08 to ¥3.39. 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 22.38% from a day low at ¥2.77 to a day high of ¥3.39. The price has risen in 6 of the last 10 days and is up by 15.7% over the past 2 weeks. Volume fell on the last day by -10 million shares and in total, 59 million shares were bought and sold for approximately ¥199.65 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 very 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 ¥3.18, a level that may pose a second chance to hit a runner. According to fan-theory ¥3.85 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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002593.SZ Signals & Forecast
The Xiamen Sunrise Wheel Group 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 ¥2.93 and ¥3.17. 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 25.56%. 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).
Support, Risk & Stop-loss for Xiamen Sunrise Wheel Group Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥3.20 and ¥3.08. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Xiamen Sunrise Wheel Group Co Ltd finds support just below today's level at ¥3.20. If this is broken, then the next support from accumulated volume will be at ¥3.08 and ¥2.70.
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 ¥0.620 between high and low, or 22.38%. For the last week, the stock has had daily average volatility of 10.90%.
Our recommended stop-loss: ¥3.28 (-3.34%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (002593.SZ) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Xiamen Sunrise Wheel Group Co Ltd to open at ¥3.18, and during the day (based on 14 day Average True Range), to move between ¥3.17 and ¥3.61, which gives a possible trading interval of +/-¥0.218 (+/-6.42%) up or down from last closing price. If Xiamen Sunrise Wheel Group Co Ltd takes out the full calculated possible swing range there will be an estimated 12.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥3.40 (0.29%) than the support at ¥3.20 (5.60%), 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 Xiamen Sunrise Wheel Group 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 Sell to a Buy candidate.
Current score: 2.356 Buy Candidate Upgraded
Predicted Opening Price for Xiamen Sunrise Wheel Group Co Ltd of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ¥3.18 ( 6.10%) | ¥3.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002593.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.80 | 12.19% |
| R2 | 3.57 | 5.21% |
| R1 | 3.42 | 0.89% |
| Price | 3.39 | |
| S1 | 2.95 | -13.08% |
| S2 | 2.80 | -17.40% |
| S3 | 2.56 | -24.39% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.44 | 1.47% |
| R2 | 3.43 | 1.18% |
| R1 | 3.40 | 0.295% |
| Price | 3.39 | |
| S1 | 3.20 | -5.60% |
| S2 | 3.08 | -9.14% |
| S3 | 2.70 | -20.35% |
002593 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 28, 2024 | May 28, 2024 | May 28, 2024 | ¥0.0500 | 1.58% |
| 2 | Jun 24, 2022 | Jun 24, 2022 | Jun 24, 2022 | ¥0.0500 | 1.44% |
| 3 | May 18, 2021 | May 18, 2021 | May 18, 2021 | ¥0.0500 | 1.41% |
| 4 | Jun 22, 2020 | Jun 22, 2020 | Jun 22, 2020 | ¥0.0500 | 1.44% |
| 5 | May 24, 2019 | May 24, 2019 | May 24, 2019 | ¥0.0503 | 1.05% |
FAQ
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