Inner Mongolia Erdos Resources Co.,ltd. Stock Forecast
Inner Mongolia Erdos Resources Co.,ltd. stock price took a fall of -8.66% on Wednesday
(Updated on Jun 26, 2024)
The Inner Mongolia Erdos Resources Co.,ltd. stock price fell by -8.66% on the last day (Wednesday, 26th Jun 2024) from $10.97 to $10.02. During the last trading day the stock fluctuated 3.06% from a day low at $9.79 to a day high of $10.09. The price has been going up and down for this period, and there has been a -10.7% loss for the last 2 weeks. Volume has increased on the last day by 957 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 13 million shares were bought and sold for approximately $129.83 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 $9.78 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -6.22% during the next 3 months and, with a 90% probability hold a price between $9.17 and $12.07 at the end of this 3-month period.
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600295.SS Signals & Forecast
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. The Inner Mongolia Erdos Resources 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 $10.84 and $11.52. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 30, 2024, and so far it has fallen -23.69%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Inner Mongolia Erdos Resources Co.,ltd. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.300 between high and low, or 3.06%. For the last week, the stock has had daily average volatility of 2.96%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (600295.SS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Inner Mongolia Erdos Resources Co.,ltd. to open at $9.97, and during the day (based on 14 day Average True Range), to move between $9.58 and $10.46, which gives a possible trading interval of +/-$0.440 (+/-4.39%) up or down from last closing price. If Inner Mongolia Erdos Resources Co.,ltd. takes out the full calculated possible swing range there will be an estimated 8.77% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $10.86, some $0.84 (8.38%) from the current price of $10.02, our system finds the risk reward not very attractive.
Is Inner Mongolia Erdos Resources Co.,ltd. stock A Buy?
Inner Mongolia Erdos Resources 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 Strong Sell candidate.
Current score: -6.727 Strong Sell Candidate Downgraded
Predicted Opening Price for Inner Mongolia Erdos Resources Co.,ltd. of Thursday, June 27, 2024
Fair opening price June 27, 2024 | Current price |
---|---|
$9.97 ( 0.532%) | $10.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600295.SS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 10.27 | 2.46% |
R2 | 10.15 | 1.32% |
R1 | 10.08 | 0.611% |
Price | 10.02 | |
S1 | 9.85 | -1.68% |
S2 | 9.78 | -2.38% |
S3 | 9.67 | -3.53% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 12.03 | 20.06% |
R2 | 11.34 | 13.17% |
R1 | 10.86 | 8.38% |
Price | 10.02 | |
S1 | 0 | - |
S2 | 0 | - |
S3 | 0 | - |
600295 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 26, 2024 | Jun 26, 2024 | Jun 26, 2024 | $0.80 | 8.00% |
2 | Jun 30, 2023 | Jun 30, 2023 | Jun 30, 2023 | $1.00 | 11.15% |
3 | Jun 13, 2022 | Jun 13, 2022 | Jun 13, 2022 | $2.00 | 13.54% |
4 | Jun 07, 2021 | Jun 07, 2021 | Jun 07, 2021 | $0.571 | 5.56% |
5 | May 26, 2020 | May 26, 2020 | May 26, 2020 | $0.286 | 7.98% |
FAQ
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