China Shanshui Cement Group Limited Stock Forecast
High volatility in China Shanshui Cement Group Limited stock price on Thursday which ended trading at HK$0.650
(Updated on Jun 20, 2024)
The China Shanshui Cement Group Limited stock price fell by -1.52% on the last day (Thursday, 20th Jun 2024) from HK$0.660 to HK$0.650. During the last trading day the stock fluctuated 18.18% from a day low at HK$0.550 to a day high of HK$0.650. The price has fallen in 5 of the last 10 days and is down by -9.72% for this period. Volume has increased on the last day by 121 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 143 thousand shares were bought and sold for approximately HK$92.95 thousand.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect China Shanshui Cement Group Limited stock with a 90% probability to be traded between HK$0.509 and HK$0.768 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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0691.HK Signals & Forecast
There are few to no technical positive signals at the moment. The China Shanshui Cement Group Limited 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 HK$0.656 and HK$0.674. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -17.72%. 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). China Shanshui Cement Group Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for China Shanshui Cement Group Limited stock
China Shanshui Cement Group Limited finds support from accumulated volume at HK$0.640 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 HK$0.1000 between high and low, or 18.18%. For the last week, the stock has had daily average volatility of 3.94%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0691.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect China Shanshui Cement Group Limited to open at HK$0.617, and during the day (based on 14 day Average True Range), to move between HK$0.602 and HK$0.698, which gives a possible trading interval of +/-HK$0.0482 (+/-7.42%) up or down from last closing price. If China Shanshui Cement Group Limited takes out the full calculated possible swing range there will be an estimated 14.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at HK$0.660 (1.54%) than the support at HK$0.640 (1.54%), 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 China Shanshui Cement Group Limited stock A Buy?
China Shanshui Cement Group Limited holds several negative signals and is within a very 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.
Current score: -6.703 Strong Sell Candidate Unchanged
Predicted Opening Price for China Shanshui Cement Group Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$0.617 ( 5.13%) | HK$0.650 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0691.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.717 | 10.26% |
| R2 | 0.678 | 4.38% |
| R1 | 0.655 | 0.749% |
| Price | 0.650 | |
| S1 | 0.578 | -11.01% |
| S2 | 0.555 | -14.64% |
| S3 | 0.517 | -20.51% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.740 | 13.85% |
| R2 | 0.680 | 4.62% |
| R1 | 0.660 | 1.54% |
| Price | 0.650 | |
| S1 | 0.640 | -1.54% |
| S2 | 0.630 | -3.08% |
| S3 | 0.610 | -6.15% |
0691 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 20, 2014 | May 20, 2014 | May 20, 2014 | HK$0.0920 | 3.22% |
| 2 | May 28, 2013 | May 28, 2013 | May 28, 2013 | HK$0.233 | 5.34% |
| 3 | May 22, 2012 | May 22, 2012 | May 22, 2012 | HK$0.242 | 4.54% |
| 4 | May 13, 2011 | May 13, 2011 | May 13, 2011 | HK$0.145 | 1.77% |
| 5 | May 12, 2010 | May 12, 2010 | May 12, 2010 | HK$0.0970 | 2.88% |
FAQ
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