Anhui Coreach Technology Co.,ltd Stock Forecast
Red day on Thursday for Anhui Coreach Technology Co.,ltd
(Updated on Jun 27, 2024)
The Anhui Coreach Technology Co.,ltd stock price fell by -1.52% on the last day (Thursday, 27th Jun 2024) from ¥16.49 to ¥16.24. During the last trading day the stock fluctuated 4.38% from a day low at ¥16.21 to a day high of ¥16.92. The price has fallen in 6 of the last 10 days and is down by -23.86% 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 -208 thousand shares and in total, 3 million shares were bought and sold for approximately ¥43.78 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 -24.66% during the next 3 months and, with a 90% probability hold a price between ¥11.24 and ¥14.57 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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002983.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 4.77%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Anhui Coreach Technology 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 ¥16.52 and ¥19.86. A break-up above any of these levels will issue buy signals. 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 Anhui Coreach Technology Co.,ltd stock
Anhui Coreach Technology Co.,ltd finds support from accumulated volume at ¥15.77 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ¥0.710 between high and low, or 4.38%. For the last week, the stock has had daily average volatility of 12.59%.
Our recommended stop-loss: ¥15.38 (-5.31%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (002983.SZ) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Anhui Coreach Technology Co.,ltd to open at ¥16.46, and during the day (based on 14 day Average True Range), to move between ¥14.50 and ¥17.98, which gives a possible trading interval of +/-¥1.74 (+/-10.69%) up or down from last closing price. If Anhui Coreach Technology Co.,ltd takes out the full calculated possible swing range there will be an estimated 21.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥16.49 (1.54%) than the support at ¥15.77 (2.89%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Anhui Coreach Technology Co.,ltd stock A Buy?
Anhui Coreach Technology Co.,ltd holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.300 Hold/Accumulate Unchanged
Predicted Opening Price for Anhui Coreach Technology Co.,ltd of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| ¥16.46 ( 1.33%) | ¥16.24 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002983.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.17 | 5.71% |
| R2 | 16.90 | 4.04% |
| R1 | 16.73 | 3.00% |
| Price | 16.24 | |
| S1 | 16.19 | -0.336% |
| S2 | 16.02 | -1.37% |
| S3 | 15.75 | -3.04% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.64 | 8.62% |
| R2 | 16.98 | 4.56% |
| R1 | 16.49 | 1.54% |
| Price | 16.24 | |
| S1 | 15.77 | -2.89% |
| S2 | 15.50 | -4.56% |
| S3 | 0 | - |
002983 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 18, 2024 | Jun 18, 2024 | Jun 18, 2024 | ¥0.349 | 1.98% |
| 2 | Jun 21, 2023 | Jun 21, 2023 | Jun 21, 2023 | ¥0.248 | 1.22% |
| 3 | Jul 11, 2022 | Jul 11, 2022 | Jul 11, 2022 | ¥0.200 | 1.24% |
| 4 | Jul 09, 2021 | Jul 09, 2021 | Jul 09, 2021 | ¥0.231 | 1.23% |
FAQ
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