Guangdong New Grand Long Packing Co Ltd Stock Forecast
Red day on Wednesday for Guangdong New Grand Long Packing Co Ltd stock after losing 0.503%
(Updated on Jul 03, 2024)
The Guangdong New Grand Long Packing Co Ltd stock price fell by -0.503% on the last day (Wednesday, 3rd Jul 2024) from ¥5.97 to ¥5.94. During the last trading day the stock fluctuated 2.56% from a day low at ¥5.85 to a day high of ¥6.00. The price has fallen in 6 of the last 10 days and is down by -1.82% for this period. Volume has increased on the last day by 98 thousand 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, 2 million shares were bought and sold for approximately ¥10.15 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 -7.47% during the next 3 months and, with a 90% probability hold a price between ¥4.51 and ¥6.34 at the end of this 3-month period.
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002836.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 6.45%. 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 Guangdong New Grand Long Packing 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 ¥6.33. On a fall, the stock will find some support from the short-term average at ¥5.89. 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. 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 Guangdong New Grand Long Packing Co Ltd stock
Guangdong New Grand Long Packing Co Ltd finds support from accumulated volume at ¥5.91 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 ¥0.150 between high and low, or 2.56%. For the last week, the stock has had daily average volatility of 4.77%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002836.SZ) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Guangdong New Grand Long Packing Co Ltd to open at ¥5.93, and during the day (based on 14 day Average True Range), to move between ¥5.59 and ¥6.29, which gives a possible trading interval of +/-¥0.355 (+/-5.98%) up or down from last closing price. If Guangdong New Grand Long Packing Co Ltd takes out the full calculated possible swing range there will be an estimated 11.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥5.91 (0.51%) than the resistance at ¥6.65 (11.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Guangdong New Grand Long Packing Co Ltd stock A Buy?
Guangdong New Grand Long Packing 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: -1.143 Sell Candidate Unchanged
Predicted Opening Price for Guangdong New Grand Long Packing Co Ltd of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| ¥5.93 ( 0.168%) | ¥5.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002836.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.08 | 2.36% |
| R2 | 6.02 | 1.39% |
| R1 | 5.99 | 0.796% |
| Price | 5.94 | |
| S1 | 5.87 | -1.13% |
| S2 | 5.84 | -1.73% |
| S3 | 5.78 | -2.69% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.04 | 18.52% |
| R2 | 6.90 | 16.16% |
| R1 | 6.65 | 11.95% |
| Price | 5.94 | |
| S1 | 5.91 | -0.505% |
| S2 | 5.81 | -2.19% |
| S3 | 5.66 | -4.71% |
002836 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2024 | May 31, 2024 | May 31, 2024 | ¥0.100 | 1.52% |
| 2 | Jun 08, 2023 | Jun 08, 2023 | Jun 08, 2023 | ¥0.400 | 5.19% |
| 3 | Jul 11, 2022 | Jul 11, 2022 | Jul 11, 2022 | ¥0.100 | 1.53% |
| 4 | Jun 16, 2021 | Jun 16, 2021 | Jun 16, 2021 | ¥0.250 | 4.11% |
| 5 | Jul 20, 2020 | Jul 20, 2020 | Jul 20, 2020 | ¥0.0833 | 1.01% |
FAQ
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