Beijing Yuanlong Yat Cltre Dsemnt Co Ltd Stock Forecast
Red day on Friday for Beijing Yuanlong Yat Cltre Dsemnt Co Ltd
(Updated on Jun 21, 2024)
The Beijing Yuanlong Yat Cltre Dsemnt Co Ltd stock price fell by -1.35% on the last day (Friday, 21st Jun 2024) from ¥12.56 to ¥12.39. During the last trading day the stock fluctuated 7.39% from a day low at ¥12.31 to a day high of ¥13.22. The price has been going up and down for this period, and there has been a -2.67% loss for the last 2 weeks. 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 -984 thousand shares and in total, 2 million shares were bought and sold for approximately ¥30.71 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 -6.80% during the next 3 months and, with a 90% probability hold a price between ¥9.72 and ¥12.88 at the end of this 3-month period.
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002878.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Beijing Yuanlong Yat Cltre Dsemnt 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 ¥12.96 and ¥13.53. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -13.90%. 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 Beijing Yuanlong Yat Cltre Dsemnt Co Ltd stock
Beijing Yuanlong Yat Cltre Dsemnt Co Ltd finds support from accumulated volume at ¥12.28 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 ¥0.91 between high and low, or 7.39%. For the last week, the stock has had daily average volatility of 5.31%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002878.SZ) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Beijing Yuanlong Yat Cltre Dsemnt Co Ltd to open at ¥12.64, and during the day (based on 14 day Average True Range), to move between ¥11.67 and ¥13.11, which gives a possible trading interval of +/-¥0.717 (+/-5.79%) up or down from last closing price. If Beijing Yuanlong Yat Cltre Dsemnt Co Ltd takes out the full calculated possible swing range there will be an estimated 11.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥12.28 (0.89%) than the resistance at ¥12.53 (1.13%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Beijing Yuanlong Yat Cltre Dsemnt Co Ltd stock A Buy?
Beijing Yuanlong Yat Cltre Dsemnt 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: -3.019 Sell Candidate Unchanged
Predicted Opening Price for Beijing Yuanlong Yat Cltre Dsemnt Co Ltd of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ¥12.64 ( 2.02%) | ¥12.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002878.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.55 | 9.36% |
| R2 | 13.20 | 6.56% |
| R1 | 12.99 | 4.82% |
| Price | 12.39 | |
| S1 | 12.29 | -0.788% |
| S2 | 12.08 | -2.52% |
| S3 | 11.73 | -5.33% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.38 | 16.06% |
| R2 | 13.25 | 6.94% |
| R1 | 12.53 | 1.13% |
| Price | 12.39 | |
| S1 | 12.28 | -0.89% |
| S2 | 12.14 | -2.02% |
| S3 | 11.17 | -9.85% |
002878 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 28, 2024 | May 28, 2024 | May 28, 2024 | ¥0.0500 | 0.373% |
| 2 | May 31, 2023 | May 31, 2023 | May 31, 2023 | ¥0.500 | 2.90% |
| 3 | Jun 06, 2022 | Jun 06, 2022 | Jun 06, 2022 | ¥0.360 | 1.96% |
| 4 | May 14, 2021 | May 14, 2021 | May 14, 2021 | ¥0.360 | 1.90% |
| 5 | Jun 19, 2020 | Jun 19, 2020 | Jun 19, 2020 | ¥0.350 | 1.48% |
FAQ
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