Shanghai Tianchen Co.,Ltd Stock Forecast
Green day on Wednesday for Shanghai Tianchen Co.,Ltd
(Updated on Jun 26, 2024)
The Shanghai Tianchen Co.,Ltd stock price gained 3.50% on the last trading day (Wednesday, 26th Jun 2024), rising from $4.28 to $4.43. During the last trading day the stock fluctuated 6.73% from a day low at $4.16 to a day high of $4.44. The price has fallen in 5 of the last 10 days and is down by -6.74% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 696 thousand more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately $21.77 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 $4.23 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -20.02% during the next 3 months and, with a 90% probability hold a price between $3.38 and $4.68 at the end of this 3-month period.
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600620.SS Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 3.50%. 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 Shanghai Tianchen 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 $4.48 and $5.12. 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 Shanghai Tianchen Co.,Ltd stock
Shanghai Tianchen Co.,Ltd finds support from accumulated volume at $4.28 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 $0.280 between high and low, or 6.73%. For the last week, the stock has had daily average volatility of 4.42%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (600620.SS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Shanghai Tianchen Co.,Ltd to open at $4.34, and during the day (based on 14 day Average True Range), to move between $4.16 and $4.70, which gives a possible trading interval of +/-$0.270 (+/-6.09%) up or down from last closing price. If Shanghai Tianchen Co.,Ltd takes out the full calculated possible swing range there will be an estimated 12.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.28 (3.39%) than the resistance at $5.01 (13.09%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Shanghai Tianchen Co.,Ltd stock A Buy?
Shanghai Tianchen 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.
Current score: -2.003 Sell Candidate Unchanged
Predicted Opening Price for Shanghai Tianchen Co.,Ltd of Thursday, June 27, 2024
Fair opening price June 27, 2024 | Current price |
---|---|
$4.34 ( 1.96%) | $4.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600620.SS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 4.62 | 4.36% |
R2 | 4.52 | 1.95% |
R1 | 4.45 | 0.458% |
Price | 4.43 | |
S1 | 4.24 | -4.37% |
S2 | 4.17 | -5.86% |
S3 | 4.06 | -8.28% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 5.41 | 22.12% |
R2 | 5.30 | 19.64% |
R1 | 5.01 | 13.09% |
Price | 4.43 | |
S1 | 4.28 | -3.39% |
S2 | 0 | - |
S3 | 0 | - |
600620 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Aug 16, 2023 | Aug 16, 2023 | Aug 16, 2023 | $0.0300 | 0.256% |
2 | Aug 23, 2022 | Aug 23, 2022 | Aug 23, 2022 | $0.0550 | 0.464% |
3 | Aug 13, 2021 | Aug 13, 2021 | Aug 13, 2021 | $0.0500 | 0.641% |
4 | Jul 24, 2020 | Jul 24, 2020 | Jul 24, 2020 | $0.0300 | 0.334% |
5 | Jul 31, 2019 | Jul 31, 2019 | Jul 31, 2019 | $0.0300 | 0.419% |
FAQ
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