Long Yuan Construction Group Co., Ltd. Stock Forecast
Long Yuan Construction Group Co., Ltd. stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)
No changes to the price of Long Yuan Construction Group Co., Ltd. stock on the last trading day (Friday, 28th Jun 2024). During the last trading day the stock fluctuated 6.64% from a day low at $2.71 to a day high of $2.89. The price has fallen in 5 of the last 10 days but is still up by 13.69% over the past 2 weeks.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.53% during the next 3 months and, with a 90% probability hold a price between $2.20 and $2.88 at the end of this 3-month period.
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600491.SS Signals & Forecast
The Long Yuan Construction Group 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 $2.78. On a fall, the stock will find some support from the long-term average at approximately $2.62. 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). The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. 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 Monday, June 24, 2024, and so far it has fallen -8.36%. Further fall is indicated until a new bottom pivot has been found.
A buy signal from a double bottom formation was found on Thursday, June 06, 2024 and based on theory for this formation the price should go up by 15.35% to $3.16 within 34 trading days since signal was issued (Thursday, July 25, 2024).
Support, Risk & Stop-loss for Long Yuan Construction Group Co., Ltd. stock
Long Yuan Construction Group Co., Ltd. finds support from accumulated volume at $2.71 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 $0.180 between high and low, or 6.64%. For the last week, the stock has had daily average volatility of 6.97%.
Our recommended stop-loss: $2.61 (-4.62%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (600491.SS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Long Yuan Construction Group Co., Ltd. to open at $2.78, and during the day (based on 14 day Average True Range), to move between $2.58 and $2.90, which gives a possible trading interval of +/-$0.157 (+/-5.75%) up or down from last closing price. If Long Yuan Construction Group Co., Ltd. takes out the full calculated possible swing range there will be an estimated 11.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.71 (1.09%) than the resistance at $2.80 (2.19%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Long Yuan Construction Group Co., Ltd. stock A Buy?
Long Yuan Construction Group 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: -0.570 Hold/Accumulate Downgraded
Predicted Opening Price for Long Yuan Construction Group Co., Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $2.78 ( 1.46%) | $2.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600491.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.96 | 8.03% |
| R2 | 2.89 | 5.52% |
| R1 | 2.85 | 3.97% |
| Price | 2.74 | |
| S1 | 2.71 | -1.05% |
| S2 | 2.67 | -2.60% |
| S3 | 2.60 | -5.11% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.99 | 9.12% |
| R2 | 2.82 | 2.92% |
| R1 | 2.80 | 2.19% |
| Price | 2.74 | |
| S1 | 2.71 | -1.09% |
| S2 | 2.56 | -6.57% |
| S3 | 2.46 | -10.22% |
600491 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 01, 2022 | Jul 01, 2022 | Jul 01, 2022 | $0.0420 | 0.627% |
| 2 | Jul 08, 2021 | Jul 08, 2021 | Jul 08, 2021 | $0.0500 | 0.99% |
| 3 | Jul 15, 2020 | Jul 15, 2020 | Jul 15, 2020 | $0.0720 | 0.759% |
| 4 | Jul 18, 2019 | Jul 18, 2019 | Jul 18, 2019 | $0.0600 | 0.90% |
| 5 | Jul 09, 2018 | Jul 09, 2018 | Jul 09, 2018 | $0.0350 | 0.512% |
FAQ
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