Yuhuan CNC Machine Tool Co Ltd Stock Forecast
Yuhuan CNC Machine Tool Co Ltd stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Jun 28, 2024)
The Yuhuan CNC Machine Tool Co Ltd stock price gained 1.57% on the last trading day (Friday, 28th Jun 2024), rising from ¥17.20 to ¥17.47. During the last trading day the stock fluctuated 5.58% from a day low at ¥16.67 to a day high of ¥17.60. The price has fallen in 6 of the last 10 days but is still up by 4.86% over the past 2 weeks. Volume fell on the last day by -25 thousand shares and in total, 10 million shares were bought and sold for approximately ¥182.27 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is ¥17.19, a level that may pose a second chance to hit a runner. According to fan-theory ¥20.57 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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002903.SZ Signals & Forecast
Mostly positive signals in the chart today. The Yuhuan CNC Machine Tool Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥16.99 and ¥17.04. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 14.56%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Yuhuan CNC Machine Tool Co Ltd stock
Yuhuan CNC Machine Tool Co Ltd finds support from accumulated volume at ¥17.29 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 ¥0.93 between high and low, or 5.58%. For the last week, the stock has had daily average volatility of 6.19%.
Our recommended stop-loss: ¥16.92 (-3.14%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 33 days ago.)
Trading Expectations (002903.SZ) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Yuhuan CNC Machine Tool Co Ltd to open at ¥17.25, and during the day (based on 14 day Average True Range), to move between ¥16.47 and ¥18.47, which gives a possible trading interval of +/-¥1.00 (+/-5.73%) up or down from last closing price. If Yuhuan CNC Machine Tool Co Ltd takes out the full calculated possible swing range there will be an estimated 11.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥17.29 (1.03%) than the resistance at ¥18.22 (4.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Yuhuan CNC Machine Tool Co Ltd stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.626 Buy Candidate Upgraded
Predicted Opening Price for Yuhuan CNC Machine Tool Co Ltd of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ¥17.25 ( 1.28%) | ¥17.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002903.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.18 | 4.05% |
| R2 | 17.82 | 2.01% |
| R1 | 17.60 | 0.755% |
| Price | 17.47 | |
| S1 | 16.89 | -3.31% |
| S2 | 16.67 | -4.57% |
| S3 | 16.32 | -6.60% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 19.74 | 12.99% |
| R2 | 18.39 | 5.27% |
| R1 | 18.22 | 4.29% |
| Price | 17.47 | |
| S1 | 17.29 | -1.03% |
| S2 | 17.20 | -1.55% |
| S3 | 17.11 | -2.06% |
002903 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 21, 2024 | May 21, 2024 | May 21, 2024 | ¥0.200 | 1.14% |
| 2 | May 25, 2023 | May 25, 2023 | May 25, 2023 | ¥0.150 | 0.599% |
| 3 | May 17, 2022 | May 17, 2022 | May 17, 2022 | ¥0.200 | 1.52% |
| 4 | May 17, 2021 | May 17, 2021 | May 17, 2021 | ¥0.100 | 0.752% |
| 5 | Jun 05, 2019 | Jun 05, 2019 | Jun 05, 2019 | ¥0.100 | 0.660% |
FAQ
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