China Sports Industry Group Co., Ltd. Stock Forecast
Evaluation of China Sports Industry Group Co., Ltd. stock downgraded after the last trading session.
(Updated on Jun 27, 2024)
The China Sports Industry Group Co., Ltd. stock price fell by -2.42% on the last day (Thursday, 27th Jun 2024) from $7.86 to $7.67. During the last trading day the stock fluctuated 2.48% from a day low at $7.67 to a day high of $7.86. The price has fallen in 6 of the last 10 days and is down by -10.92% 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 -5 million shares and in total, 12 million shares were bought and sold for approximately $89.01 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $7.43 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -2.22% during the next 3 months and, with a 90% probability hold a price between $7.26 and $9.12 at the end of this 3-month period.
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600158.SS Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 3.09%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The China Sports Industry Group 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 $7.70 and $8.68. A break-up above any of these levels will issue buy signals. 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 China Sports Industry Group Co., Ltd. stock
China Sports Industry Group Co., Ltd. finds support from accumulated volume at $7.44 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.190 between high and low, or 2.48%. For the last week, the stock has had daily average volatility of 3.45%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (600158.SS) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect China Sports Industry Group Co., Ltd. to open at $7.73, and during the day (based on 14 day Average True Range), to move between $7.40 and $7.94, which gives a possible trading interval of +/-$0.270 (+/-3.52%) up or down from last closing price. If China Sports Industry Group Co., Ltd. takes out the full calculated possible swing range there will be an estimated 7.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.44 (3.00%) than the resistance at $8.39 (9.39%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is China Sports Industry Group Co., Ltd. stock A Buy?
China Sports Industry Group 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.607 Sell Candidate Downgraded
Predicted Opening Price for China Sports Industry Group Co., Ltd. of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $7.73 ( 0.83%) | $7.67 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600158.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.92 | 3.30% |
| R2 | 7.85 | 2.36% |
| R1 | 7.81 | 1.77% |
| Price | 7.67 | |
| S1 | 7.66 | -0.121% |
| S2 | 7.62 | -0.705% |
| S3 | 7.54 | -1.65% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 9.13 | 19.04% |
| R2 | 9.06 | 18.12% |
| R1 | 8.39 | 9.39% |
| Price | 7.67 | |
| S1 | 7.44 | -3.00% |
| S2 | 0 | - |
| S3 | 0 | - |
600158 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | $0.0040 | 0.0397% |
| 2 | Jun 30, 2022 | Jun 30, 2022 | Jun 30, 2022 | $0.0180 | 0.219% |
| 3 | Jul 06, 2021 | Jul 06, 2021 | Jul 06, 2021 | $0.0170 | 0.148% |
| 4 | Jun 15, 2020 | Jun 15, 2020 | Jun 15, 2020 | $0.0350 | 0.423% |
| 5 | May 15, 2019 | May 15, 2019 | May 15, 2019 | $0.0300 | 0.289% |
FAQ
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