Chaozhou Three-circle Group Co Ltd Stock Forecast
Chaozhou Three-circle Group Co Ltd stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 17, 2024)
The Chaozhou Three-circle Group Co Ltd stock price gained 0.580% on the last trading day (Friday, 17th May 2024), rising from ¥27.57 to ¥27.73. During the last trading day the stock fluctuated 3.58% from a day low at ¥27.40 to a day high of ¥28.38. The price has fallen in 6 of the last 10 days and is down by -0.68% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 679 thousand more shares were traded than the day before. In total, 6 million shares were bought and sold for approximately ¥156.17 million.
The stock lies in the middle of a wide and strong 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 10.04% during the next 3 months and, with a 90% probability hold a price between ¥27.77 and ¥31.97 at the end of this 3-month period.
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300408.SZ Signals & Forecast
The Chaozhou Three-circle Group Co Ltd 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 ¥27.80. On a fall, the stock will find some support from the long-term average at approximately ¥26.10. 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. 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. 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 -3.35%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Chaozhou Three-circle Group Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥25.85 and ¥25.30. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Chaozhou Three-circle Group Co Ltd finds support just below today's level at ¥25.85. If this is broken, then the next support from accumulated volume will be at ¥25.30 and ¥25.00.
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 ¥0.98 between high and low, or 3.58%. For the last week, the stock has had daily average volatility of 3.32%.
Our recommended stop-loss: ¥26.72 (-3.63%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 21 days ago.)
Trading Expectations (300408.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Chaozhou Three-circle Group Co Ltd to open at ¥27.84, and during the day (based on 14 day Average True Range), to move between ¥26.70 and ¥28.76, which gives a possible trading interval of +/-¥1.03 (+/-3.71%) 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 7.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥27.92 (0.69%) than the support at ¥25.85 (6.78%), 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.640 Buy Candidate Upgraded
Predicted Opening Price for Chaozhou Three-circle Group Co Ltd of Monday, May 20, 2024
Fair opening price May 20, 2024 | Current price |
---|---|
¥27.84 ( 0.385%) | ¥27.73 |
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 | 28.82 | 3.92 % | |
R2 | 28.44 | 2.57 % | ||
R1 | 28.21 | 1.73 % | ||
Current price: | 27.73 | |||
Support | S1 | 27.46 | -0.97 % | |
S2 | 27.23 | -1.80 % | ||
S3 | 26.86 | -3.15 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 28.56 | 2.99 % | |
R2 | 27.99 | 0.94 % | ||
R1 | 27.92 | 0.685 % | ||
Current price | 27.73 | |||
Support | S1 | 25.85 | -6.78% | |
S2 | 25.30 | -8.76% | ||
S3 | 25.00 | -9.84% |
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
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