Longzhou Group Co Ltd Stock Forecast
Weaker technical forecast for Longzhou Group Co Ltd as stock downgraded to Strong Sell Candidate.
(Updated on Jun 24, 2024)
The Longzhou Group Co Ltd stock price fell by -4.44% on the last day (Monday, 24th Jun 2024) from ¥3.60 to ¥3.44. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 5.25% from a day low at ¥3.43 to a day high of ¥3.61. The price has fallen in 6 of the last 10 days and is down by -2.55% for this period. Volume has increased on the last day by 3 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, 13 million shares were bought and sold for approximately ¥45.97 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ¥3.62 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -29.53% during the next 3 months and, with a 90% probability hold a price between ¥1.91 and ¥2.55 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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002682.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Longzhou 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 ¥3.63 and ¥4.03. 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 07, 2024, and so far it has fallen -22.70%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Longzhou 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 ¥0.180 between high and low, or 5.25%. For the last week, the stock has had daily average volatility of 4.84%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002682.SZ) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Longzhou Group Co Ltd to open at ¥3.49, and during the day (based on 14 day Average True Range), to move between ¥3.21 and ¥3.67, which gives a possible trading interval of +/-¥0.232 (+/-6.75%) up or down from last closing price. If Longzhou Group Co Ltd takes out the full calculated possible swing range there will be an estimated 13.49% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ¥3.85, some ¥0.410 (11.92%) from the current price of ¥3.44, our system finds the risk reward not very attractive.
Is Longzhou Group Co Ltd stock A Buy?
Longzhou Group Co Ltd 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.110 Strong Sell Candidate Downgraded
Predicted Opening Price for Longzhou Group Co Ltd of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| ¥3.49 ( 1.55%) | ¥3.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002682.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.67 | 6.78% |
| R2 | 3.60 | 4.78% |
| R1 | 3.56 | 3.55% |
| Price | 3.44 | |
| S1 | 3.42 | -0.448% |
| S2 | 3.38 | -1.68% |
| S3 | 3.31 | -3.68% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.28 | 24.42% |
| R2 | 4.24 | 23.26% |
| R1 | 3.85 | 11.92% |
| Price | 3.44 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
002682 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 24, 2020 | Jun 24, 2020 | Jun 24, 2020 | ¥0.0700 | 1.74% |
| 2 | Jul 19, 2019 | Jul 19, 2019 | Jul 19, 2019 | ¥0.0700 | 1.50% |
| 3 | Jul 06, 2018 | Jul 06, 2018 | Jul 06, 2018 | ¥0.0600 | 1.22% |
| 4 | Jul 07, 2017 | Jul 07, 2017 | Jul 07, 2017 | ¥0.0500 | 0.586% |
| 5 | Jun 27, 2016 | Jun 27, 2016 | Jun 27, 2016 | ¥0.0500 | 0.617% |
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