Anhui Korrun Co., Ltd. Stock Forecast
Evaluation of Anhui Korrun Co., Ltd. stock downgraded after the last trading session.
(Updated on Jun 28, 2024)
The Anhui Korrun Co., Ltd. stock price gained 0.192% on the last trading day (Friday, 28th Jun 2024), rising from ¥20.79 to ¥20.83. During the last trading day the stock fluctuated 3.34% from a day low at ¥20.36 to a day high of ¥21.04. The price has fallen in 6 of the last 10 days and is down by -1.98% for this period. Volume fell on the last day by -157 thousand shares and in total, 827 thousand shares were bought and sold for approximately ¥17.23 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 ¥19.84 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 14.49% during the next 3 months and, with a 90% probability hold a price between ¥22.71 and ¥29.42 at the end of this 3-month period.
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300577.SZ Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Anhui Korrun Co., Ltd. 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 ¥21.07 and ¥21.73. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -13.06%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Anhui Korrun Co., Ltd. stock
Anhui Korrun Co., Ltd. finds support from accumulated volume at ¥20.70 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 ¥0.680 (3.34%) between high and low. For the last week, the stock has had daily average volatility of 4.11%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (300577.SZ) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Anhui Korrun Co., Ltd. to open at ¥20.74, and during the day (based on 14 day Average True Range), to move between ¥19.92 and ¥21.74, which gives a possible trading interval of +/-¥0.91 (+/-4.39%) up or down from last closing price. If Anhui Korrun Co., Ltd. takes out the full calculated possible swing range there will be an estimated 8.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥20.70 (0.62%) than the resistance at ¥21.00 (0.82%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Anhui Korrun Co., Ltd. stock A Buy?
The Anhui Korrun Co., Ltd. stock holds several negative signals and despite the positive trend, we believe Anhui Korrun Co., Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.211 Sell Candidate Downgraded
Predicted Opening Price for Anhui Korrun Co., Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ¥20.74 ( 0.416%) | ¥20.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300577.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.42 | 2.85% |
| R2 | 21.16 | 1.60% |
| R1 | 21.00 | 0.83% |
| Price | 20.83 | |
| S1 | 20.48 | -1.66% |
| S2 | 20.32 | -2.43% |
| S3 | 20.06 | -3.68% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.58 | 13.20% |
| R2 | 22.61 | 8.55% |
| R1 | 21.00 | 0.82% |
| Price | 20.83 | |
| S1 | 20.70 | -0.624% |
| S2 | 19.00 | -8.79% |
| S3 | 17.95 | -13.83% |
300577 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 05, 2024 | Jun 05, 2024 | Jun 05, 2024 | ¥0.0940 | 0.448% |
| 2 | Jun 14, 2023 | Jun 14, 2023 | Jun 14, 2023 | ¥0.0900 | 0.578% |
| 3 | Jun 16, 2022 | Jun 16, 2022 | Jun 16, 2022 | ¥0.100 | 0.618% |
| 4 | Jun 01, 2021 | Jun 01, 2021 | Jun 01, 2021 | ¥0.105 | 0.467% |
| 5 | May 25, 2020 | May 25, 2020 | May 25, 2020 | ¥0.117 | 0.416% |
FAQ
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