Shenzhen Cotran New Material Co Ltd Stock Forecast
Shenzhen Cotran New Material Co Ltd stock price ended at ¥13.85 on Tuesday, after losing 0.93%.
(Updated on Jun 25, 2024)
The Shenzhen Cotran New Material Co Ltd stock price fell by -0.93% on the last day (Tuesday, 25th Jun 2024) from ¥13.98 to ¥13.85. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 4.23% from a day low at ¥13.70 to a day high of ¥14.28. The price has fallen in 6 of the last 10 days and is down by -2.05% 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, 2 million shares were bought and sold for approximately ¥33.96 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 -7.13% during the next 3 months and, with a 90% probability hold a price between ¥10.75 and ¥16.93 at the end of this 3-month period.
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300731.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Shenzhen Cotran New Material 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 ¥14.69 and ¥15.41. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 24, 2024, and so far it has fallen -25.94%. 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 Shenzhen Cotran New Material Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥12.66. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at ¥ may give a huge drop in the stock price.
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 ¥0.580 between high and low, or 4.23%. For the last week, the stock has had daily average volatility of 7.01%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (300731.SZ) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Shenzhen Cotran New Material Co Ltd to open at ¥13.94, and during the day (based on 14 day Average True Range), to move between ¥12.78 and ¥14.92, which gives a possible trading interval of +/-¥1.07 (+/-7.72%) up or down from last closing price. If Shenzhen Cotran New Material Co Ltd takes out the full calculated possible swing range there will be an estimated 15.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥14.72 (6.28%) than the support at ¥12.66 (8.59%), 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 Shenzhen Cotran New Material Co Ltd stock A Buy?
Shenzhen Cotran New Material 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.
Current score: -2.290 Sell Candidate Unchanged
Predicted Opening Price for Shenzhen Cotran New Material Co Ltd of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ¥13.94 ( 0.674%) | ¥13.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300731.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.52 | 4.86% |
| R2 | 14.30 | 3.26% |
| R1 | 14.16 | 2.27% |
| Price | 13.85 | |
| S1 | 13.72 | -0.93% |
| S2 | 13.58 | -1.91% |
| S3 | 13.36 | -3.51% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.63 | 20.07% |
| R2 | 16.35 | 18.05% |
| R1 | 14.72 | 6.28% |
| Price | 13.85 | |
| S1 | 12.66 | -8.59% |
| S2 | 0 | - |
| S3 | 0 | - |
300731 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 27, 2024 | May 27, 2024 | May 27, 2024 | ¥0.100 | 0.618% |
| 2 | Jun 01, 2021 | Jun 01, 2021 | Jun 01, 2021 | ¥0.100 | 0.366% |
| 3 | Jun 29, 2020 | Jun 29, 2020 | Jun 29, 2020 | ¥0.100 | 0.305% |
| 4 | Jul 15, 2019 | Jul 15, 2019 | Jul 15, 2019 | ¥0.0714 | 0.376% |
| 5 | May 21, 2018 | May 21, 2018 | May 21, 2018 | ¥0.250 | 0.90% |
FAQ
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