Nanjing Sanchao Advanced Materials Co., Stock Forecast
High volatility in Nanjing Sanchao Advanced Materials Co., stock price on Tuesday which ended trading at ¥22.26
(Updated on Jun 25, 2024)
The Nanjing Sanchao Advanced Materials Co., stock price fell by -0.447% on the last day (Tuesday, 25th Jun 2024) from ¥22.36 to ¥22.26. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 11.36% from a day low at ¥21.92 to a day high of ¥24.41. The price has fallen in 7 of the last 10 days and is down by -9.07% for this period. 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 -2 million shares and in total, 5 million shares were bought and sold for approximately ¥109.41 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥21.40 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 16.90% during the next 3 months and, with a 90% probability hold a price between ¥25.01 and ¥39.88 at the end of this 3-month period.
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300554.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Nanjing Sanchao Advanced Materials Co., 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 ¥24.21 and ¥25.49. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -30.96%. 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 Nanjing Sanchao Advanced Materials Co., stock
Nanjing Sanchao Advanced Materials Co., finds support from accumulated volume at ¥21.68 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ¥2.49 between high and low, or 11.36%. For the last week, the stock has had daily average volatility of 8.45%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (300554.SZ) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Nanjing Sanchao Advanced Materials Co., Ltd. to open at ¥22.86, and during the day (based on 14 day Average True Range), to move between ¥19.53 and ¥24.99, which gives a possible trading interval of +/-¥2.73 (+/-12.27%) up or down from last closing price. If Nanjing Sanchao Advanced Materials Co., Ltd. takes out the full calculated possible swing range there will be an estimated 24.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥22.36 (0.45%) than the support at ¥21.68 (2.61%), 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 Nanjing Sanchao Advanced Materials Co., Ltd. stock A Buy?
The Nanjing Sanchao Advanced Materials Co., stock holds several negative signals and despite the positive trend, we believe Nanjing Sanchao Advanced Materials Co., will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.785 Sell Candidate Unchanged
Predicted Opening Price for Nanjing Sanchao Advanced Materials Co., Ltd. of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
¥22.86 ( 2.71%) | ¥22.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300554.SZ
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 25.35 | 13.90% |
R2 | 24.40 | 9.62% |
R1 | 23.81 | 6.98% |
Price | 22.26 | |
S1 | 21.91 | -1.56% |
S2 | 21.32 | -4.20% |
S3 | 20.37 | -8.48% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 27.20 | 22.19% |
R2 | 25.92 | 16.44% |
R1 | 22.36 | 0.449% |
Price | 22.26 | |
S1 | 21.68 | -2.61% |
S2 | 20.41 | -8.31% |
S3 | 17.57 | -21.07% |
300554 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 25, 2024 | Apr 25, 2024 | Apr 25, 2024 | ¥0.0800 | 0.369% |
2 | Jun 07, 2021 | Jun 07, 2021 | Jun 07, 2021 | ¥0.0400 | 0.230% |
3 | Apr 30, 2020 | Apr 30, 2020 | Apr 30, 2020 | ¥0.0200 | 0.141% |
4 | Jun 03, 2019 | Jun 03, 2019 | Jun 03, 2019 | ¥0.100 | 0.617% |
5 | Jun 07, 2018 | Jun 07, 2018 | Jun 07, 2018 | ¥0.111 | 0.269% |
FAQ
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