China Grand Automotive Services Group Stock Forecast
Big movements in China Grand Automotive Services Group stock price on Wednesday moving 21.88% between high and low
(Updated on Jun 26, 2024)
The China Grand Automotive Services Group stock price gained 9.86% on the last trading day (Wednesday, 26th Jun 2024), rising from $0.710 to $0.780. During the last trading day the stock fluctuated 21.88% from a day low at $0.640 to a day high of $0.780. The price has fallen in 7 of the last 10 days and is down by -33.33% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 908 million more shares were traded than the day before. In total, 932 million shares were bought and sold for approximately $727.19 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 $0.700 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -31.44% during the next 3 months and, with a 90% probability hold a price between $0.480 and $0.85 at the end of this 3-month period.
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600297.SS Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 9.86%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The China Grand Automotive Services Group 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 $0.90 and $1.27. 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).
Support, Risk & Stop-loss for China Grand Automotive Services Group stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.710. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
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 $0.140 between high and low, or 21.88%. For the last week, the stock has had daily average volatility of 7.58%.
China Grand Automotive Services Group is oversold on RSI14 (11). 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 (600297.SS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect China Grand Automotive Services Group Co., Ltd. to open at $0.733, and during the day (based on 14 day Average True Range), to move between $0.703 and $0.86, which gives a possible trading interval of +/-$0.0766 (+/-9.82%) up or down from last closing price. If China Grand Automotive Services Group Co., Ltd. takes out the full calculated possible swing range there will be an estimated 19.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.790 (1.28%) than the support at $0.710 (8.97%), 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 China Grand Automotive Services Group Co., Ltd. stock A Buy?
China Grand Automotive Services Group 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.588 Sell Candidate Upgraded
Predicted Opening Price for China Grand Automotive Services Group Co., Ltd. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $0.733 ( 5.98%) | $0.780 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600297.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.87 | 11.97% |
| R2 | 0.82 | 5.11% |
| R1 | 0.787 | 0.87% |
| Price | 0.780 | |
| S1 | 0.680 | -12.84% |
| S2 | 0.647 | -17.08% |
| S3 | 0.593 | -23.93% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0.88 | 12.82% |
| R1 | 0.790 | 1.28% |
| Price | 0.780 | |
| S1 | 0.710 | -8.97% |
| S2 | 0 | - |
| S3 | 0 | - |
600297 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 11, 2019 | Jul 11, 2019 | Jul 11, 2019 | $0.0150 | 0.359% |
| 2 | Jun 01, 2018 | Jun 01, 2018 | Jun 01, 2018 | $0.150 | 2.25% |
| 3 | Jun 08, 2017 | Jun 08, 2017 | Jun 08, 2017 | $0.154 | 2.05% |
| 4 | Jul 08, 2014 | Jul 08, 2014 | Jul 08, 2014 | $0.0232 | 0.576% |
| 5 | Aug 15, 2013 | Aug 15, 2013 | Aug 15, 2013 | $0.0204 | 0.537% |
FAQ
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