Cangzhou Dahua Co., Ltd. Stock Forecast
Red day on Thursday for Cangzhou Dahua Co., Ltd.
(Updated on Jun 20, 2024)
The Cangzhou Dahua Co., Ltd. stock price fell by -1.73% on the last day (Thursday, 20th Jun 2024) from $10.38 to $10.20. During the last trading day the stock fluctuated 3.05% from a day low at $10.17 to a day high of $10.48. The price has been going up and down for this period, and there has been a -6.68% loss 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 -4 million shares and in total, 5 million shares were bought and sold for approximately $49.55 million.
The stock has broken the very wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $10.36. A reaction back to this level may hold a second chance to get out before further falls.
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600230.SS Signals & Forecast
There are few to no technical positive signals at the moment. The Cangzhou Dahua 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 $10.83 and $11.43. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 27, 2024, and so far it has fallen -20.13%. 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 Cangzhou Dahua Co., Ltd. stock
Cangzhou Dahua Co., Ltd. finds support from accumulated volume at $9.88 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 $0.310 between high and low, or 3.05%. For the last week, the stock has had daily average volatility of 2.90%.
Cangzhou Dahua Co., Ltd. is oversold on RSI14 (13). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (600230.SS) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Cangzhou Dahua Co., Ltd. to open at $10.28, and during the day (based on 14 day Average True Range), to move between $9.76 and $10.64, which gives a possible trading interval of +/-$0.443 (+/-4.35%) up or down from last closing price. If Cangzhou Dahua Co., Ltd. takes out the full calculated possible swing range there will be an estimated 8.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $9.88 (3.14%) than the resistance at $12.03 (17.94%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cangzhou Dahua Co., Ltd. stock A Buy?
The Cangzhou Dahua Co., Ltd. stock holds several negative signals and despite the positive trend, we believe Cangzhou Dahua Co., Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.845 Sell Candidate Unchanged
Predicted Opening Price for Cangzhou Dahua Co., Ltd. of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $10.28 ( 0.82%) | $10.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600230.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.59 | 3.86% |
| R2 | 10.47 | 2.70% |
| R1 | 10.40 | 1.98% |
| Price | 10.20 | |
| S1 | 10.16 | -0.344% |
| S2 | 10.09 | -1.06% |
| S3 | 9.97 | -2.22% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.55 | 23.04% |
| R2 | 12.24 | 20.00% |
| R1 | 12.03 | 17.94% |
| Price | 10.20 | |
| S1 | 9.88 | -3.14% |
| S2 | 0 | - |
| S3 | 0 | - |
600230 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 28, 2023 | Jul 28, 2023 | Jul 28, 2023 | $0.302 | 1.96% |
| 2 | Aug 19, 2022 | Aug 19, 2022 | Aug 19, 2022 | $0.0600 | 0.361% |
| 3 | Jun 28, 2021 | Jun 28, 2021 | Jun 28, 2021 | $0.0150 | 0.123% |
| 4 | Aug 13, 2020 | Aug 13, 2020 | Aug 13, 2020 | $0.0180 | 0.160% |
| 5 | May 23, 2019 | May 23, 2019 | May 23, 2019 | $0.200 | 1.34% |
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