Chongqing Sansheng Industrial Co Ltd Stock Forecast
Big movements in Chongqing Sansheng Industrial Co Ltd stock price on Friday moving 11.34% between high and low
(Updated on May 10, 2024)
The Chongqing Sansheng Industrial Co Ltd stock price fell by -4.90% on the last day (Friday, 10th May 2024) from ¥2.04 to ¥1.94. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 11.34% from a day low at ¥1.94 to a day high of ¥2.16. The price has fallen in 7 of the last 10 days and is down by -12.22% 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 -9 million shares and in total, 2 million shares were bought and sold for approximately ¥2.92 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥1.84 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -25.93% during the next 3 months and, with a 90% probability hold a price between ¥1.36 and ¥2.06 at the end of this 3-month period.
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002742.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Chongqing Sansheng Industrial 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 ¥2.17 and ¥2.72. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -41.74%. 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 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 Chongqing Sansheng Industrial 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 may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ¥0.220 between high and low, or 11.34%. For the last week, the stock has had daily average volatility of 9.91%.
Chongqing Sansheng Industrial Co Ltd is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002742.SZ) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Chongqing Sansheng Industrial Co Ltd to open at ¥2.01, and during the day (based on 14 day Average True Range), to move between ¥1.72 and ¥2.16, which gives a possible trading interval of +/-¥0.222 (+/-11.46%) up or down from last closing price. If Chongqing Sansheng Industrial Co Ltd takes out the full calculated possible swing range there will be an estimated 22.91% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ¥2.21, some ¥0.270 (13.92%) from the current price of ¥1.94, our system finds the risk reward not very attractive.
Is Chongqing Sansheng Industrial Co Ltd stock A Buy?
Chongqing Sansheng Industrial 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.
Current score: -6.559 Strong Sell Candidate Unchanged
Predicted Opening Price for Chongqing Sansheng Industrial Co Ltd of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ¥2.01 ( 3.78%) | ¥1.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002742.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.23 | 15.12 % | |
| R2 | 2.15 | 10.79 % | ||
| R1 | 2.10 | 8.11 % | ||
| Current price: | 1.94 | |||
| Support | S1 | 1.93 | -0.552 % | |
| S2 | 1.88 | -3.23 % | ||
| S3 | 1.79 | -7.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.32 | 19.59 % | |
| R2 | 2.23 | 14.95 % | ||
| R1 | 2.21 | 13.92 % | ||
| Current price | 1.94 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
002742 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 01, 2020 | Jul 01, 2020 | Jul 01, 2020 | ¥0.0400 | 0.638% |
| 2 | Aug 22, 2019 | Aug 22, 2019 | Aug 22, 2019 | ¥0.100 | 1.62% |
| 3 | May 11, 2018 | May 11, 2018 | May 11, 2018 | ¥0.0700 | 0.515% |
| 4 | May 12, 2017 | May 12, 2017 | May 12, 2017 | ¥0.0750 | 0.560% |
| 5 | May 24, 2016 | May 24, 2016 | May 24, 2016 | ¥0.0833 | 0.81% |
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