Hangzhou Changchuan Technology Co Ltd Stock Forecast
Hangzhou Changchuan Technology Co Ltd stock downgraded to Sell Candidate
(Updated on May 29, 2024)
The Hangzhou Changchuan Technology Co Ltd stock price fell by -1.81% on the last day (Wednesday, 29th May 2024) from ¥29.26 to ¥28.73. During the last trading day the stock fluctuated 4.18% from a day low at ¥28.46 to a day high of ¥29.65. The price has been going up and down for this period, and there has been a 5.01% gain for the last 2 weeks. 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 -7 million shares and in total, 11 million shares were bought and sold for approximately ¥324.00 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -7.00% during the next 3 months and, with a 90% probability hold a price between ¥22.92 and ¥30.40 at the end of this 3-month period.
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300604.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, May 24, 2024, and so far it has risen 0.95%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Hangzhou Changchuan Technology Co Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ¥29.53 and ¥28.76. A break-up above any of these levels will issue buy signals. 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 Hangzhou Changchuan Technology Co Ltd stock
Hangzhou Changchuan Technology Co Ltd finds support from accumulated volume at ¥28.35 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 ¥1.19 between high and low, or 4.18%. For the last week, the stock has had daily average volatility of 5.42%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (300604.SZ) For The Upcoming Trading Day Of Thursday 30th
For the upcoming trading day on Thursday, 30th we expect Hangzhou Changchuan Technology Co Ltd to open at ¥28.95, and during the day (based on 14 day Average True Range), to move between ¥26.64 and ¥30.82, which gives a possible trading interval of +/-¥2.09 (+/-7.28%) up or down from last closing price. If Hangzhou Changchuan Technology Co Ltd takes out the full calculated possible swing range there will be an estimated 14.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥28.35 (1.32%) than the resistance at ¥30.28 (5.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hangzhou Changchuan Technology Co Ltd stock A Buy?
Hangzhou Changchuan Technology Co Ltd 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. 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: -2.252 Sell Candidate Downgraded
Predicted Opening Price for Hangzhou Changchuan Technology Co Ltd of Thursday, May 30, 2024
| Fair opening price May 30, 2024 | Current price |
|---|---|
| ¥28.95 ( 0.754%) | ¥28.73 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300604.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.14 | 4.90 % | |
| R2 | 29.68 | 3.31 % | ||
| R1 | 29.40 | 2.34 % | ||
| Current price: | 28.73 | |||
| Support | S1 | 28.49 | -0.83 % | |
| S2 | 28.21 | -1.81 % | ||
| S3 | 27.76 | -3.39 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.60 | 16.95 % | |
| R2 | 31.15 | 8.42 % | ||
| R1 | 30.28 | 5.40 % | ||
| Current price | 28.73 | |||
| Support | S1 | 28.35 | -1.32% | |
| S2 | 28.17 | -1.95% | ||
| S3 | 27.36 | -4.77% |
300604 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 30, 2023 | Jun 30, 2023 | Jun 30, 2023 | ¥0.100 | 0.211% |
| 2 | Jul 20, 2022 | Jul 20, 2022 | Jul 20, 2022 | ¥0.100 | 0.221% |
| 3 | Jul 15, 2021 | Jul 15, 2021 | Jul 15, 2021 | ¥0.0526 | 0.119% |
| 4 | Jun 14, 2019 | Jun 14, 2019 | Jun 14, 2019 | ¥0.0277 | 0.317% |
| 5 | Jun 21, 2018 | Jun 21, 2018 | Jun 21, 2018 | ¥0.0219 | 0.271% |
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