Qingdao Sentury Tire Co., Ltd. Stock Forecast
Red day on Thursday for Qingdao Sentury Tire Co., Ltd.
(Updated on Jun 27, 2024)
The Qingdao Sentury Tire Co., Ltd. stock price fell by -1.92% on the last day (Thursday, 27th Jun 2024) from ¥24.47 to ¥24.00. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 3.10% from a day low at ¥23.90 to a day high of ¥24.64. The price has fallen in 7 of the last 10 days and is down by -6.14% 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 ¥301.32 million.
The stock has broken the narrow and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately ¥24.66 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
002984.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Qingdao Sentury Tire 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 ¥24.86 and ¥25.13. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 21, 2024, and so far it has fallen -5.70%. 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 Qingdao Sentury Tire Co., Ltd. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 ¥0.740 between high and low, or 3.10%. For the last week the stock has had daily average volatility of 3.53%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002984.SZ) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Qingdao Sentury Tire Co., Ltd. to open at ¥24.18, and during the day (based on 14 day Average True Range), to move between ¥23.20 and ¥24.80, which gives a possible trading interval of +/-¥0.80 (+/-3.34%) up or down from last closing price. If Qingdao Sentury Tire Co., Ltd. takes out the full calculated possible swing range there will be an estimated 6.67% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ¥25.29, some ¥1.29 (5.38%) from the current price of ¥24.00, our system finds the risk reward not very attractive.
Is Qingdao Sentury Tire Co., Ltd. stock A Buy?
Qingdao Sentury Tire Co., Ltd. holds several negative signals and is within a narrow 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: -4.626 Sell Candidate Unchanged
Predicted Opening Price for Qingdao Sentury Tire Co., Ltd. of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| ¥24.18 ( 0.750%) | ¥24.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002984.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.92 | 3.83% |
| R2 | 24.64 | 2.66% |
| R1 | 24.46 | 1.93% |
| Price | 24.00 | |
| S1 | 23.90 | -0.428% |
| S2 | 23.72 | -1.16% |
| S3 | 23.44 | -2.33% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.96 | 8.17% |
| R2 | 25.39 | 5.79% |
| R1 | 25.29 | 5.38% |
| Price | 24.00 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
002984 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 19, 2024 | Apr 19, 2024 | Apr 19, 2024 | ¥0.410 | 1.59% |
| 2 | Apr 29, 2022 | Apr 29, 2022 | Apr 29, 2022 | ¥0.170 | 0.94% |
| 3 | Jan 15, 2021 | Jan 15, 2021 | Jan 15, 2021 | ¥0.166 | 0.92% |
FAQ
Click here for our free guide on how to buy Qingdao Sentury Tire Co., Ltd. Stock.
