Gansu Yasheng Industrial (Group) Co., Stock Forecast
Gansu Yasheng Industrial (Group) Co., stock upgraded to Sell Candidate.
(Updated on Jun 21, 2024)
The Gansu Yasheng Industrial (Group) Co., stock price gained 2.12% on the last trading day (Friday, 21st Jun 2024), rising from $2.36 to $2.41. During the last trading day the stock fluctuated 3.85% from a day low at $2.34 to a day high of $2.43. The price has been going up and down for this period, and there has been a -0.41% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 million more shares were traded than the day before. In total, 18 million shares were bought and sold for approximately $43.63 million.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $2.35 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -10.08% during the next 3 months and, with a 90% probability hold a price between $2.12 and $2.40 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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600108.SS Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 2.12%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Gansu Yasheng Industrial (Group) Co., stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $2.60. On a fall, the stock will find some support from the short-term average at $2.41. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Gansu Yasheng Industrial (Group) Co., stock
Gansu Yasheng Industrial (Group) Co., finds support from accumulated volume at $2.40 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 $0.0900 between high and low, or 3.85%. For the last week, the stock has had daily average volatility of 2.20%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (600108.SS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Gansu Yasheng Industrial (Group) Co., Ltd. to open at $2.39, and during the day (based on 14 day Average True Range), to move between $2.35 and $2.47, which gives a possible trading interval of +/-$0.0553 (+/-2.29%) up or down from last closing price. If Gansu Yasheng Industrial (Group) Co., Ltd. takes out the full calculated possible swing range there will be an estimated 4.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.40 (0.41%) than the resistance at $2.70 (12.03%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Gansu Yasheng Industrial (Group) Co., Ltd. stock A Buy?
Gansu Yasheng Industrial (Group) Co., 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -1.391 Sell Candidate Upgraded
Predicted Opening Price for Gansu Yasheng Industrial (Group) Co., Ltd. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $2.39 ( 0.692%) | $2.41 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600108.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.48 | 3.04% |
| R2 | 2.45 | 1.62% |
| R1 | 2.43 | 0.735% |
| Price | 2.41 | |
| S1 | 2.36 | -2.12% |
| S2 | 2.34 | -3.00% |
| S3 | 2.30 | -4.43% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.75 | 14.11% |
| R2 | 2.73 | 13.28% |
| R1 | 2.70 | 12.03% |
| Price | 2.41 | |
| S1 | 2.40 | -0.415% |
| S2 | 2.36 | -2.07% |
| S3 | 0 | - |
600108 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 19, 2023 | Jul 19, 2023 | Jul 19, 2023 | $0.0040 | 0.127% |
| 2 | Jul 22, 2022 | Jul 22, 2022 | Jul 22, 2022 | $0.0040 | 0.118% |
| 3 | Jul 23, 2020 | Jul 23, 2020 | Jul 23, 2020 | $0.0045 | 0.132% |
| 4 | Jul 23, 2019 | Jul 23, 2019 | Jul 23, 2019 | $0.0045 | 0.140% |
| 5 | Jul 18, 2018 | Jul 18, 2018 | Jul 18, 2018 | $0.0050 | 0.171% |
FAQ
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