Chaozhou Three-circle Group Co Ltd Stock Forecast
Chaozhou Three-circle Group Co Ltd stock price ended at ¥28.05 on Thursday, after losing 0.0356%.
(Updated on May 09, 2024)
The Chaozhou Three-circle Group Co Ltd stock price fell by -0.0356% on the last day (Thursday, 9th May 2024) from ¥28.06 to ¥28.05. During the last trading day the stock fluctuated 1.55% from a day low at ¥27.82 to a day high of ¥28.25. The price has risen in 6 of the last 10 days and is up by 10.87% over the past 2 weeks. Volume has increased on the last day by 220 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, 8 million shares were bought and sold for approximately ¥211.18 million.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ¥28.76 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 7.21% during the next 3 months and, with a 90% probability hold a price between ¥26.62 and ¥30.84 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
300408.SZ Signals & Forecast
The Chaozhou Three-circle Group 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 ¥27.91 and ¥25.78. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -2.23%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Chaozhou Three-circle Group Co Ltd stock
Chaozhou Three-circle Group Co Ltd finds support from accumulated volume at ¥27.99 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 ¥0.430 between high and low, or 1.55%. For the last week, the stock has had daily average volatility of 5.11%.
The Chaozhou Three-circle Group Co Ltd stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: ¥27.15 (-3.20%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 80 and this increases the risk substantially. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (300408.SZ) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Chaozhou Three-circle Group Co Ltd to open at ¥28.04, and during the day (based on 14 day Average True Range), to move between ¥26.94 and ¥29.16, which gives a possible trading interval of +/-¥1.11 (+/-3.95%) up or down from last closing price. If Chaozhou Three-circle Group Co Ltd takes out the full calculated possible swing range there will be an estimated 7.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥28.06 (0.04%) than the support at ¥27.99 (0.21%), 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 Chaozhou Three-circle Group 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 Chaozhou Three-circle Group Co Ltd stock to perform well in the short-term.
Current score: 2.885 Buy Candidate Unchanged
Predicted Opening Price for Chaozhou Three-circle Group Co Ltd of Friday, May 10, 2024
Fair opening price May 10, 2024 | Current price |
---|---|
¥28.04 ( 0.0357%) | ¥28.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300408.SZ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 28.47 | 1.50 % | |
R2 | 28.31 | 0.91 % | ||
R1 | 28.20 | 0.550 % | ||
Current price: | 28.05 | |||
Support | S1 | 27.88 | -0.621 % | |
S2 | 27.77 | -0.98 % | ||
S3 | 27.61 | -1.57 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 28.69 | 2.28 % | |
R2 | 28.56 | 1.82 % | ||
R1 | 28.06 | 0.0357 % | ||
Current price | 28.05 | |||
Support | S1 | 27.99 | -0.214% | |
S2 | 25.30 | -9.80% | ||
S3 | 25.00 | -10.87% |
300408 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jul 17, 2023 | Jul 17, 2023 | Jul 17, 2023 | ¥0.250 | 0.781% |
2 | Jun 10, 2022 | Jun 10, 2022 | Jun 10, 2022 | ¥0.320 | 1.11% |
3 | Jun 17, 2021 | Jun 17, 2021 | Jun 17, 2021 | ¥0.250 | 0.643% |
4 | May 27, 2020 | May 27, 2020 | May 27, 2020 | ¥0.200 | 1.02% |
5 | Jul 01, 2019 | Jul 01, 2019 | Jul 01, 2019 | ¥0.250 | 1.27% |
FAQ
Click here for our free guide on how to buy Chaozhou Three-circle Group Co Ltd Stock.