Citic Press Corp Stock Forecast
Green day on Tuesday for Citic Press Corp stock after gaining 0.405%
(Updated on Apr 30, 2024)
The Citic Press Corp stock price gained 0.405% on the last trading day (Tuesday, 30th Apr 2024), rising from ¥29.64 to ¥29.76. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 6.43% from a day low at ¥28.60 to a day high of ¥30.44. The price has risen in 6 of the last 10 days and is up by 4.06% over the past 2 weeks. Volume fell on the last day by -923 thousand shares and in total, 7 million shares were bought and sold for approximately ¥204.93 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 is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Citic Press Corp stock with a 90% probability to be traded between ¥23.54 and ¥36.55 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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300788.SZ Signals & Forecast
The Citic Press Corp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥28.43 and ¥29.65. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 10, 2024, and so far it has risen 13.37%. Further rise is indicated until a new top pivot has been found. 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. Despite all the positive signals in the chart we there to be so much uncertainty and risk that we cannot upgrade this stock's score yet.
Support, Risk & Stop-loss for Citic Press Corp stock
Citic Press Corp finds support from accumulated volume at ¥29.50 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 ¥1.84 between high and low, or 6.43%. For the last week, the stock has had daily average volatility of 7.93%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (300788.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Citic Press Corp to open at ¥29.60, and during the day (based on 14 day Average True Range), to move between ¥27.28 and ¥32.24, which gives a possible trading interval of +/-¥2.48 (+/-8.34%) up or down from last closing price. If Citic Press Corp takes out the full calculated possible swing range there will be an estimated 16.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥29.90 (0.47%) than the support at ¥29.50 (0.87%), 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 Citic Press Corp stock A Buy?
Citic Press Corp holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.471 Sell Candidate Unchanged
Predicted Opening Price for Citic Press Corp of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥29.60 ( 0.538%) | ¥29.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300788.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.44 | 5.65 % | |
| R2 | 30.74 | 3.28 % | ||
| R1 | 30.30 | 1.82 % | ||
| Current price: | 29.76 | |||
| Support | S1 | 28.90 | -2.90 % | |
| S2 | 28.46 | -4.36 % | ||
| S3 | 27.76 | -6.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.70 | 6.52 % | |
| R2 | 31.37 | 5.41 % | ||
| R1 | 29.90 | 0.470 % | ||
| Current price | 29.76 | |||
| Support | S1 | 29.50 | -0.87% | |
| S2 | 28.75 | -3.39% | ||
| S3 | 24.01 | -19.32% |
300788 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 25, 2023 | Jul 25, 2023 | Jul 25, 2023 | ¥0.352 | 1.14% |
| 2 | Aug 10, 2022 | Aug 10, 2022 | Aug 10, 2022 | ¥0.508 | 2.84% |
| 3 | Jul 09, 2021 | Jul 09, 2021 | Jul 09, 2021 | ¥0.480 | 1.35% |
| 4 | Jun 24, 2020 | Jun 24, 2020 | Jun 24, 2020 | ¥0.417 | 0.84% |
FAQ
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