Chutian Dragon Co., Ltd. Stock Forecast
Chutian Dragon Co., Ltd. stock downgraded from Hold/Accumulate to Strong Sell Candidate after Tuesday trading session.
(Updated on Jun 25, 2024)
The Chutian Dragon Co., Ltd. stock price fell by -4.72% on the last day (Tuesday, 25th Jun 2024) from ¥12.70 to ¥12.10. During the last trading day the stock fluctuated 6.69% from a day low at ¥11.80 to a day high of ¥12.59. The price has risen in 7 of the last 10 days and is up by 4.31% over the past 2 weeks. 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 -3 million shares and in total, 20 million shares were bought and sold for approximately ¥241.46 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 -2.58% during the next 3 months and, with a 90% probability hold a price between ¥10.95 and ¥12.36 at the end of this 3-month period.
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003040.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Chutian Dragon Co., Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ¥12.24 and ¥12.23. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -4.72%. 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 Chutian Dragon Co., Ltd. stock
Chutian Dragon Co., Ltd. finds support from accumulated volume at ¥12.07 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 ¥0.790 between high and low, or 6.69%. For the last week, the stock has had daily average volatility of 6.22%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (003040.SZ) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Chutian Dragon Co., Ltd. to open at ¥12.16, and during the day (based on 14 day Average True Range), to move between ¥11.41 and ¥12.79, which gives a possible trading interval of +/-¥0.694 (+/-5.74%) up or down from last closing price. If Chutian Dragon Co., Ltd. takes out the full calculated possible swing range there will be an estimated 11.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥12.07 (0.25%) than the resistance at ¥12.50 (3.31%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Chutian Dragon Co., Ltd. stock A Buy?
Chutian Dragon Co., Ltd. holds several negative signals and is within a wide 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. 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 Strong Sell candidate.
Current score: -5.203 Strong Sell Candidate Downgraded
Predicted Opening Price for Chutian Dragon Co., Ltd. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ¥12.16 ( 0.523%) | ¥12.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 003040.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.95 | 7.05% |
| R2 | 12.65 | 4.56% |
| R1 | 12.47 | 3.02% |
| Price | 12.10 | |
| S1 | 11.86 | -1.97% |
| S2 | 11.68 | -3.51% |
| S3 | 11.37 | -6.01% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.02 | 7.60% |
| R2 | 12.70 | 4.96% |
| R1 | 12.50 | 3.31% |
| Price | 12.10 | |
| S1 | 12.07 | -0.248% |
| S2 | 12.00 | -0.83% |
| S3 | 11.43 | -5.54% |
003040 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 22, 2023 | May 22, 2023 | May 22, 2023 | ¥0.180 | 0.95% |
| 2 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | ¥0.0600 | 0.294% |
| 3 | Jun 22, 2021 | Jun 22, 2021 | Jun 22, 2021 | ¥0.0800 | 0.259% |
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