Guosheng Financial Holding Inc Stock Forecast
Red day on Wednesday for Guosheng Financial Holding Inc
(Updated on Apr 24, 2024)
The Guosheng Financial Holding Inc stock price fell by -1.12% on the last day (Wednesday, 24th Apr 2024) from ¥8.96 to ¥8.86. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 4.94% from a day low at ¥8.71 to a day high of ¥9.14. The price has fallen in 6 of the last 10 days and is down by -0.11% for this period. Volume has increased on the last day by 7 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 33 million shares were bought and sold for approximately ¥288.99 million.
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 -9.69% during the next 3 months and, with a 90% probability hold a price between ¥7.18 and ¥9.24 at the end of this 3-month period.
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002670.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 4.48%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Guosheng Financial Holding Inc 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 ¥8.95 and ¥9.53. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Guosheng Financial Holding Inc stock
Guosheng Financial Holding Inc finds support from accumulated volume at ¥8.74 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 ¥0.430 between high and low, or 4.94%. For the last week, the stock has had daily average volatility of 5.16%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002670.SZ) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Guosheng Financial Holding Inc to open at ¥8.90, and during the day (based on 14 day Average True Range), to move between ¥8.43 and ¥9.29, which gives a possible trading interval of +/-¥0.425 (+/-4.80%) up or down from last closing price. If Guosheng Financial Holding Inc takes out the full calculated possible swing range there will be an estimated 9.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥8.74 (1.35%) than the resistance at ¥9.77 (10.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Guosheng Financial Holding Inc stock A Buy?
Guosheng Financial Holding Inc 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: -1.722 Sell Candidate Unchanged
Predicted Opening Price for Guosheng Financial Holding Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| ¥8.90 ( 0.489%) | ¥8.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002670.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.33 | 5.34 % | |
| R2 | 9.17 | 3.49 % | ||
| R1 | 9.07 | 2.34 % | ||
| Current price: | 8.86 | |||
| Support | S1 | 8.74 | -1.36 % | |
| S2 | 8.64 | -2.51 % | ||
| S3 | 8.47 | -4.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.98 | 23.93 % | |
| R2 | 10.24 | 15.58 % | ||
| R1 | 9.77 | 10.27 % | ||
| Current price | 8.86 | |||
| Support | S1 | 8.74 | -1.35% | |
| S2 | 8.72 | -1.58% | ||
| S3 | 8.48 | -4.29% |
002670 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 29, 2018 | Jun 29, 2018 | Jun 29, 2018 | ¥0.0077 | 0.0716% |
| 2 | Apr 28, 2017 | Apr 28, 2017 | Apr 28, 2017 | ¥0.0096 | 0.0787% |
| 3 | Jun 04, 2015 | Jun 04, 2015 | Jun 04, 2015 | ¥0.192 | 2.14% |
| 4 | May 23, 2014 | May 23, 2014 | May 23, 2014 | ¥0.144 | 3.43% |
| 5 | Jun 06, 2013 | Jun 06, 2013 | Jun 06, 2013 | ¥0.120 | 3.73% |
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