Chongqing Baiya Sanitary Products Co., Stock Forecast
Stronger technical forecast for Chongqing Baiya Sanitary Products Co., stock price after Friday trading.
(Updated on Jun 28, 2024)
The Chongqing Baiya Sanitary Products Co., stock price gained 0.722% on the last trading day (Friday, 28th Jun 2024), rising from ¥23.53 to ¥23.70. During the last trading day the stock fluctuated 3.58% from a day low at ¥23.20 to a day high of ¥24.03. The price has risen in 6 of the last 10 days and is up by 1.07% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 3 million shares were bought and sold for approximately ¥71.38 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 stock lies in the lower part of a narrow and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥23.55 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 2.02% during the next 3 months and, with a 90% probability hold a price between ¥24.03 and ¥25.16 at the end of this 3-month period.
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003006.SZ Signals & Forecast
Mostly positive signals in the chart today. The Chongqing Baiya Sanitary Products Co., stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ¥23.94. On a fall, the stock will find some support from the long-term average at approximately ¥23.69. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 0.722%. 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 Chongqing Baiya Sanitary Products Co., stock
Chongqing Baiya Sanitary Products Co., finds support from accumulated volume at ¥23.55 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 ¥0.83 between high and low, or 3.58%. For the last week the stock has had daily average volatility of 4.46%.
Our recommended stop-loss: ¥22.48 (-5.14%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (003006.SZ) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Chongqing Baiya Sanitary Products Co., Ltd. to open at ¥23.64, and during the day (based on 14 day Average True Range), to move between ¥22.80 and ¥24.60, which gives a possible trading interval of +/-¥0.90 (+/-3.81%) up or down from last closing price. If Chongqing Baiya Sanitary Products Co., Ltd. takes out the full calculated possible swing range there will be an estimated 7.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥23.55 (0.63%) than the resistance at ¥23.90 (0.84%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Chongqing Baiya Sanitary Products Co., Ltd. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Chongqing Baiya Sanitary Products Co., stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.933 Buy Candidate Upgraded
Predicted Opening Price for Chongqing Baiya Sanitary Products Co., Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ¥23.64 ( 0.239%) | ¥23.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 003006.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.47 | 3.26% |
| R2 | 24.16 | 1.93% |
| R1 | 23.96 | 1.10% |
| Price | 23.70 | |
| S1 | 23.33 | -1.58% |
| S2 | 23.13 | -2.40% |
| S3 | 22.81 | -3.74% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.18 | 2.03% |
| R2 | 24.00 | 1.27% |
| R1 | 23.90 | 0.84% |
| Price | 23.70 | |
| S1 | 23.55 | -0.633% |
| S2 | 23.53 | -0.717% |
| S3 | 23.45 | -1.05% |
003006 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 24, 2024 | Apr 24, 2024 | Apr 24, 2024 | ¥0.550 | 2.71% |
| 2 | Apr 26, 2023 | Apr 26, 2023 | Apr 26, 2023 | ¥0.300 | 1.72% |
| 3 | Apr 28, 2022 | Apr 28, 2022 | Apr 28, 2022 | ¥0.300 | 3.24% |
| 4 | May 28, 2021 | May 28, 2021 | May 28, 2021 | ¥0.300 | 1.10% |
FAQ
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