Cgn Power Co., Ltd. Stock Forecast
Stronger technical forecast for Cgn Power Co., Ltd. stock price after Friday trading.
(Updated on Jun 28, 2024)
The Cgn Power Co., Ltd. stock price gained 3.81% on the last trading day (Friday, 28th Jun 2024), rising from ¥4.46 to ¥4.63. During the last trading day the stock fluctuated 5.94% from a day low at ¥4.38 to a day high of ¥4.64. The price has risen in 6 of the last 10 days and is up by 2.43% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 30 million more shares were traded than the day before. In total, 177 million shares were bought and sold for approximately ¥820.22 million.
The stock lies in the middle of a narrow and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 8.42% during the next 3 months and, with a 90% probability hold a price between ¥4.84 and ¥5.07 at the end of this 3-month period.
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003816.SZ Signals & Forecast
Mostly positive signals in the chart today. The Cgn Power Co., Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ¥4.46 and ¥4.34. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 6.68%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Cgn Power Co., Ltd. stock
Cgn Power Co., Ltd. finds support from accumulated volume at ¥4.41 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ¥0.260 (5.94%) between high and low. For the last week, the stock has had daily average volatility of 4.58%.
Our recommended stop-loss: ¥4.43 (-4.36%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (003816.SZ) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Cgn Power Co., Ltd. to open at ¥4.55, and during the day (based on 14 day Average True Range), to move between ¥4.43 and ¥4.83, which gives a possible trading interval of +/-¥0.202 (+/-4.36%) up or down from last closing price. If Cgn Power Co., Ltd. takes out the full calculated possible swing range there will be an estimated 8.73% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ¥4.41, some ¥0.220 (4.75%) from the current price of ¥4.63, our system finds the risk reward attractive.
Is Cgn Power 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 Cgn Power Co., Ltd. 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: 4.887 Buy Candidate Upgraded
Predicted Opening Price for Cgn Power Co., Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ¥4.55 ( 1.73%) | ¥4.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 003816.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.81 | 3.89% |
| R2 | 4.71 | 1.74% |
| R1 | 4.65 | 0.417% |
| Price | 4.63 | |
| S1 | 4.45 | -3.87% |
| S2 | 4.39 | -5.20% |
| S3 | 4.29 | -7.34% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 4.63 | |
| S1 | 4.41 | -4.75% |
| S2 | 4.34 | -6.26% |
| S3 | 4.26 | -7.99% |
003816 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 07, 2023 | Jul 07, 2023 | Jul 07, 2023 | ¥0.0870 | 2.84% |
| 2 | Jul 07, 2022 | Jul 07, 2022 | Jul 07, 2022 | ¥0.0840 | 2.97% |
| 3 | Jul 08, 2021 | Jul 08, 2021 | Jul 08, 2021 | ¥0.0800 | 3.10% |
| 4 | Jul 10, 2020 | Jul 10, 2020 | Jul 10, 2020 | ¥0.0760 | 2.41% |
FAQ
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