Shanghai Dazhong Public Utilities(Group) Stock Forecast
Red day on Monday for Shanghai Dazhong Public Utilities(Group) stock after losing 2.21%
(Updated on Jun 24, 2024)
The Shanghai Dazhong Public Utilities(Group) stock price fell by -2.21% on the last day (Monday, 24th Jun 2024) from $2.71 to $2.65. During the last trading day the stock fluctuated 2.27% from a day low at $2.64 to a day high of $2.70. The price has fallen in 7 of the last 10 days and is down by -6.36% for this period. Volume has increased on the last day by 4 million 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, 12 million shares were bought and sold for approximately $30.82 million.
The stock has broken the falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($2.71) are considered to be a "second chance" to get out. According to the fan-theory $2.46 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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600635.SS Signals & Forecast
There are few to no technical positive signals at the moment. The Shanghai Dazhong Public Utilities(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 $2.73 and $2.87. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -13.11%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Shanghai Dazhong Public Utilities(Group) 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 $0.0600 between high and low, or 2.27%. For the last week, the stock has had daily average volatility of 1.85%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (600635.SS) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Shanghai Dazhong Public Utilities(Group) Co.,Ltd. to open at $2.66, and during the day (based on 14 day Average True Range), to move between $2.59 and $2.71, which gives a possible trading interval of +/-$0.0564 (+/-2.13%) up or down from last closing price. If Shanghai Dazhong Public Utilities(Group) Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 4.26% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $2.91, some $0.260 (9.81%) from the current price of $2.65, our system finds the risk reward not very attractive.
Is Shanghai Dazhong Public Utilities(Group) Co.,Ltd. stock A Buy?
Shanghai Dazhong Public Utilities(Group) holds several negative signals and is within a 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: -2.672 Sell Candidate Unchanged
Predicted Opening Price for Shanghai Dazhong Public Utilities(Group) Co.,Ltd. of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| $2.66 ( 0.503%) | $2.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600635.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.72 | 2.77% |
| R2 | 2.70 | 1.90% |
| R1 | 2.69 | 1.37% |
| Price | 2.65 | |
| S1 | 2.64 | -0.362% |
| S2 | 2.63 | -0.90% |
| S3 | 2.60 | -1.76% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.99 | 12.83% |
| R2 | 2.96 | 11.70% |
| R1 | 2.91 | 9.81% |
| Price | 2.65 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
600635 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 18, 2023 | Aug 18, 2023 | Aug 18, 2023 | $0.0300 | 0.88% |
| 2 | Jul 20, 2022 | Jul 20, 2022 | Jul 20, 2022 | $0.0500 | 1.57% |
| 3 | Aug 06, 2021 | Aug 06, 2021 | Aug 06, 2021 | $0.0550 | 1.61% |
| 4 | Aug 12, 2020 | Aug 12, 2020 | Aug 12, 2020 | $0.0600 | 1.24% |
| 5 | Aug 09, 2019 | Aug 09, 2019 | Aug 09, 2019 | $0.0600 | 1.22% |
FAQ
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