Changchun Yidong Clutch CO.,LTD Stock Forecast
Changchun Yidong Clutch CO.,LTD stock price ended at $11.99 on Wednesday, after gaining 2.39%.
(Updated on Jun 26, 2024)
The Changchun Yidong Clutch CO.,LTD stock price gained 2.39% on the last trading day (Wednesday, 26th Jun 2024), rising from $11.71 to $11.99. During the last trading day the stock fluctuated 4.51% from a day low at $11.52 to a day high of $12.04. The price has been going up and down for this period, and there has been a -0.75% loss for the last 2 weeks. Volume fell on the last day by -217 thousand shares and in total, 945 thousand shares were bought and sold for approximately $11.33 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 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 -14.39% during the next 3 months and, with a 90% probability hold a price between $8.29 and $10.98 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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600148.SS Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 4.99%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Changchun Yidong Clutch 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 $12.03 and $12.58. A break-up above any of these levels will issue buy signals.
A buy signal from a double bottom formation was found on Thursday, June 06, 2024 and based on theory for this formation the price should go up by 28.88% to $15.45 within 34 trading days since signal was issued (Thursday, July 25, 2024).
Support, Risk & Stop-loss for Changchun Yidong Clutch CO.,LTD stock
Changchun Yidong Clutch CO.,LTD finds support from accumulated volume at $11.71 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 $0.520 between high and low, or 4.51%. For the last week, the stock has had daily average volatility of 3.68%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (600148.SS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Changchun Yidong Clutch CO.,LTD to open at $11.85, and during the day (based on 14 day Average True Range), to move between $11.51 and $12.47, which gives a possible trading interval of +/-$0.480 (+/-4.00%) up or down from last closing price. If Changchun Yidong Clutch CO.,LTD takes out the full calculated possible swing range there will be an estimated 8.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $11.71 (2.34%) than the resistance at $13.49 (12.51%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Changchun Yidong Clutch CO.,LTD stock A Buy?
Changchun Yidong Clutch 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: -1.189 Sell Candidate Unchanged
Predicted Opening Price for Changchun Yidong Clutch CO.,LTD of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $11.85 ( 1.17%) | $11.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600148.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.37 | 3.17% |
| R2 | 12.17 | 1.51% |
| R1 | 12.05 | 0.489% |
| Price | 11.99 | |
| S1 | 11.65 | -2.82% |
| S2 | 11.53 | -3.85% |
| S3 | 11.33 | -5.50% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.07 | 17.35% |
| R2 | 13.97 | 16.51% |
| R1 | 13.49 | 12.51% |
| Price | 11.99 | |
| S1 | 11.71 | -2.34% |
| S2 | 11.42 | -4.75% |
| S3 | 11.40 | -4.92% |
600148 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2022 | Jun 28, 2022 | Jun 28, 2022 | $0.0875 | 0.546% |
| 2 | Jul 13, 2021 | Jul 13, 2021 | Jul 13, 2021 | $0.181 | 1.43% |
| 3 | Jun 30, 2020 | Jun 30, 2020 | Jun 30, 2020 | $0.115 | 0.86% |
| 4 | Jul 11, 2018 | Jul 11, 2018 | Jul 11, 2018 | $0.0985 | 0.551% |
| 5 | Jun 25, 2015 | Jun 25, 2015 | Jun 25, 2015 | $0.0816 | 0.282% |
FAQ
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