Sichuan Road & Bridge Co.,Ltd Stock Forecast
Stronger technical forecast for Sichuan Road & Bridge Co.,Ltd stock price after Tuesday trading.
(Updated on Jun 25, 2024)
The Sichuan Road & Bridge Co.,Ltd stock price fell by -1.37% on the last day (Tuesday, 25th Jun 2024) from $8.01 to $7.90. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 2.80% from a day low at $7.85 to a day high of $8.07. The price has fallen in 7 of the last 10 days and is down by -3.19% 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 -598 thousand shares and in total, 19 million shares were bought and sold for approximately $148.73 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 8.16% during the next 3 months and, with a 90% probability hold a price between $8.26 and $9.19 at the end of this 3-month period.
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600039.SS Signals & Forecast
The Sichuan Road & Bridge Co.,Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $8.10. On a fall, the stock will find some support from the long-term average at approximately $7.86. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, June 12, 2024, and so far it has fallen -5.95%. 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 Sichuan Road & Bridge Co.,Ltd stock
Sichuan Road & Bridge Co.,Ltd finds support from accumulated volume at $7.86 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 $0.220 between high and low, or 2.80%. For the last week, the stock has had daily average volatility of 1.68%.
Our recommended stop-loss: $7.41 (-6.22%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 37 days ago.)
Trading Expectations (600039.SS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Sichuan Road & Bridge Co.,Ltd to open at $7.94, and during the day (based on 14 day Average True Range), to move between $7.73 and $8.07, which gives a possible trading interval of +/-$0.172 (+/-2.18%) up or down from last closing price. If Sichuan Road & Bridge Co.,Ltd takes out the full calculated possible swing range there will be an estimated 4.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.86 (0.51%) than the resistance at $8.03 (1.65%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sichuan Road & Bridge Co.,Ltd stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Sichuan Road & Bridge Co.,Ltd stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.252 Buy Candidate Upgraded
Predicted Opening Price for Sichuan Road & Bridge Co.,Ltd of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $7.94 ( 0.506%) | $7.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600039.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.16 | 3.29% |
| R2 | 8.08 | 2.23% |
| R1 | 8.02 | 1.57% |
| Price | 7.90 | |
| S1 | 7.86 | -0.557% |
| S2 | 7.80 | -1.21% |
| S3 | 7.72 | -2.28% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.19 | 3.67% |
| R2 | 8.13 | 2.91% |
| R1 | 8.03 | 1.65% |
| Price | 7.90 | |
| S1 | 7.86 | -0.506% |
| S2 | 7.71 | -2.41% |
| S3 | 7.26 | -8.10% |
600039 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 15, 2023 | Jun 15, 2023 | Jun 15, 2023 | $0.91 | 9.39% |
| 2 | Jun 15, 2022 | Jun 15, 2022 | Jun 15, 2022 | $0.470 | 6.15% |
| 3 | Jul 08, 2021 | Jul 08, 2021 | Jul 08, 2021 | $0.250 | 5.68% |
| 4 | Jul 08, 2020 | Jul 08, 2020 | Jul 08, 2020 | $0.0700 | 2.36% |
| 5 | Jul 18, 2019 | Jul 18, 2019 | Jul 18, 2019 | $0.0500 | 2.01% |
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