China Great Wall Securities Co Ltd Stock Forecast
Evaluation of China Great Wall Securities Co Ltd stock downgraded after the last trading session.
(Updated on Apr 23, 2024)
The China Great Wall Securities Co Ltd stock price fell by -0.96% on the last day (Tuesday, 23rd Apr 2024) from ¥7.29 to ¥7.22. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.80% from a day low at ¥7.21 to a day high of ¥7.34. The price has fallen in 7 of the last 10 days and is down by -1.37% 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 -4 million shares and in total, 13 million shares were bought and sold for approximately ¥90.48 million.
The stock lies in the middle of a 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 -2.56% during the next 3 months and, with a 90% probability hold a price between ¥6.40 and ¥7.61 at the end of this 3-month period.
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002939.SZ Signals & Forecast
There are mixed signals in the stock today. The China Great Wall Securities 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 ¥7.25 and ¥7.51. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 1.83%. 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).
Support, Risk & Stop-loss for China Great Wall Securities Co Ltd stock
China Great Wall Securities Co Ltd finds support from accumulated volume at ¥7.09 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ¥0.130 between high and low, or 1.80%. For the last week the stock has had daily average volatility of 2.11%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002939.SZ) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect China Great Wall Securities Co Ltd to open at ¥7.26, and during the day (based on 14 day Average True Range), to move between ¥7.03 and ¥7.41, which gives a possible trading interval of +/-¥0.191 (+/-2.65%) up or down from last closing price. If China Great Wall Securities Co Ltd takes out the full calculated possible swing range there will be an estimated 5.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥7.09 (1.80%) than the resistance at ¥7.59 (5.12%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is China Great Wall Securities Co Ltd stock A Buy?
China Great Wall Securities 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.497 Sell Candidate Downgraded
Predicted Opening Price for China Great Wall Securities Co Ltd of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| ¥7.26 ( 0.508%) | ¥7.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002939.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.39 | 2.31 % | |
| R2 | 7.34 | 1.62 % | ||
| R1 | 7.31 | 1.20 % | ||
| Current price: | 7.22 | |||
| Support | S1 | 7.21 | -0.180 % | |
| S2 | 7.18 | -0.605 % | ||
| S3 | 7.13 | -1.29 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.68 | 6.37 % | |
| R2 | 7.65 | 5.96 % | ||
| R1 | 7.59 | 5.12 % | ||
| Current price | 7.22 | |||
| Support | S1 | 7.09 | -1.80% | |
| S2 | 7.04 | -2.49% | ||
| S3 | 6.75 | -6.51% |
002939 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 24, 2023 | Jul 24, 2023 | Jul 24, 2023 | ¥0.100 | 1.23% |
| 2 | May 25, 2022 | May 25, 2022 | May 25, 2022 | ¥0.150 | 1.92% |
| 3 | Jul 28, 2021 | Jul 28, 2021 | Jul 28, 2021 | ¥0.100 | 1.08% |
| 4 | Aug 05, 2020 | Aug 05, 2020 | Aug 05, 2020 | ¥0.110 | 0.759% |
| 5 | Jun 24, 2019 | Jun 24, 2019 | Jun 24, 2019 | ¥0.200 | 1.35% |
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