Shanghai Dazhong Public Utilities(Group) Stock Forecast
Red day on Friday for Shanghai Dazhong Public Utilities(Group)
(Updated on Jun 28, 2024)
No changes to the price of Shanghai Dazhong Public Utilities(Group) stock on the last trading day (Friday, 28th Jun 2024). During the last trading day the stock fluctuated 1.87% from a day low at $2.67 to a day high of $2.72. The price has fallen in 5 of the last 10 days and is down by -2.55% for this period.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $2.63 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -8.42% during the next 3 months and, with a 90% probability hold a price between $2.41 and $2.66 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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600635.SS Signals & Forecast
There are mixed signals in the stock today. 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 $2.69 and $2.84. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 1.13%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Shanghai Dazhong Public Utilities(Group) stock
Shanghai Dazhong Public Utilities(Group) finds support from accumulated volume at $2.65 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.0500 (1.87%) between high and low. For the last week, the stock has had daily average volatility of 2.27%.
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 Monday 1st
For the upcoming trading day on Monday, 1st we expect Shanghai Dazhong Public Utilities(Group) Co.,Ltd. to open at $2.69, and during the day (based on 14 day Average True Range), to move between $2.62 and $2.74, which gives a possible trading interval of +/-$0.0574 (+/-2.14%) 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 4.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.65 (1.12%) than the resistance at $2.91 (8.58%), 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 Dazhong Public Utilities(Group) Co.,Ltd. stock A Buy?
Shanghai Dazhong Public Utilities(Group) holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.622 Sell Candidate Unchanged
Predicted Opening Price for Shanghai Dazhong Public Utilities(Group) Co.,Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $2.69 ( 0.373%) | $2.68 |
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 | 2.74 | 2.24% |
| R2 | 2.72 | 1.53% |
| R1 | 2.71 | 1.09% |
| Price | 2.68 | |
| S1 | 2.67 | -0.340% |
| S2 | 2.66 | -0.780% |
| S3 | 2.64 | -1.49% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.99 | 11.57% |
| R2 | 2.96 | 10.45% |
| R1 | 2.91 | 8.58% |
| Price | 2.68 | |
| S1 | 2.65 | -1.12% |
| 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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