Shanghai Belling Co., Ltd. Stock Forecast
Shanghai Belling Co., Ltd. stock price fell more than -5.49% Thursday closing at $18.60
(Updated on Jun 20, 2024)
The Shanghai Belling Co., Ltd. stock price fell by -5.49% on the last day (Thursday, 20th Jun 2024) from $19.68 to $18.60. During the last trading day the stock fluctuated 9.13% from a day low at $18.40 to a day high of $20.08. The price has been going up and down for this period, and there has been a 8.84% gain for the last 2 weeks. 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 -43 million shares and in total, 123 million shares were bought and sold for approximately $2.29 billion.
The stock lies in the middle of a very wide and strong 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 49.43% during the next 3 months and, with a 90% probability hold a price between $20.83 and $29.92 at the end of this 3-month period.
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600171.SS Signals & Forecast
The Shanghai Belling 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 $19.08. On a fall, the stock will find some support from the long-term average at approximately $14.89. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Tuesday, June 18, 2024, and so far it has fallen -6.06%. Further fall is indicated until a new bottom pivot has been found. 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 Shanghai Belling Co., Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $17.23 and $17.09. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Shanghai Belling Co., Ltd. finds support just below today's level at $17.23. If this is broken, then the next support from accumulated volume will be at $17.09 and $16.65.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $1.68 between high and low, or 9.13%. For the last week, the stock has had daily average volatility of 8.30%.
Our recommended stop-loss: $17.54 (-5.72%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 43 days ago.)
Trading Expectations (600171.SS) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Shanghai Belling Co., Ltd. to open at $19.03, and during the day (based on 14 day Average True Range), to move between $17.41 and $19.79, which gives a possible trading interval of +/-$1.19 (+/-6.40%) up or down from last closing price. If Shanghai Belling Co., Ltd. takes out the full calculated possible swing range there will be an estimated 12.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $18.80 (1.08%) than the support at $17.23 (7.37%), 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 Shanghai Belling Co., Ltd. stock A Buy?
Shanghai Belling Co., Ltd. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.767 Hold/Accumulate Downgraded
Predicted Opening Price for Shanghai Belling Co., Ltd. of Friday, June 21, 2024
Fair opening price June 21, 2024 | Current price |
---|---|
$19.03 ( 2.29%) | $18.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600171.SS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 20.71 | 11.33% |
R2 | 20.06 | 7.88% |
R1 | 19.67 | 5.74% |
Price | 18.60 | |
S1 | 18.38 | -1.16% |
S2 | 17.99 | -3.29% |
S3 | 17.35 | -6.74% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 19.68 | 5.81% |
R2 | 19.33 | 3.92% |
R1 | 18.80 | 1.08% |
Price | 18.60 | |
S1 | 17.23 | -7.37% |
S2 | 17.09 | -8.12% |
S3 | 16.65 | -10.48% |
600171 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 20, 2024 | Jun 20, 2024 | Jun 20, 2024 | $0.100 | 0.536% |
2 | Jun 12, 2023 | Jun 12, 2023 | Jun 12, 2023 | $0.200 | 1.15% |
3 | Jun 21, 2022 | Jun 21, 2022 | Jun 21, 2022 | $0.200 | 0.94% |
4 | Jun 11, 2021 | Jun 11, 2021 | Jun 11, 2021 | $0.130 | 0.560% |
5 | Jun 12, 2020 | Jun 12, 2020 | Jun 12, 2020 | $0.110 | 0.659% |
FAQ
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