CSSC Offshore & Marine Engineering Stock Forecast
CSSC Offshore & Marine Engineering stock price down 0.368% on Thursday
(Updated on Jun 20, 2024)
The CSSC Offshore & Marine Engineering stock price fell by -0.368% on the last day (Thursday, 20th Jun 2024) from $27.21 to $27.11. During the last trading day the stock fluctuated 2.59% from a day low at $27.01 to a day high of $27.71. The price has fallen in 6 of the last 10 days and is down by -2.94% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 million shares and in total, 7 million shares were bought and sold for approximately $201.29 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $26.81 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 9.88% during the next 3 months and, with a 90% probability hold a price between $29.46 and $32.45 at the end of this 3-month period.
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600685.SS Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The CSSC Offshore & Marine Engineering stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $27.65 and $27.28. 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 -4.41%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for CSSC Offshore & Marine Engineering stock
CSSC Offshore & Marine Engineering finds support from accumulated volume at $26.66 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.700 between high and low, or 2.59%. For the last week the stock has had daily average volatility of 3.19%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (600685.SS) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect CSSC Offshore & Marine Engineering (Group) Company Limited to open at $27.28, and during the day (based on 14 day Average True Range), to move between $26.20 and $28.02, which gives a possible trading interval of +/-$0.91 (+/-3.36%) up or down from last closing price. If CSSC Offshore & Marine Engineering (Group) Company Limited takes out the full calculated possible swing range there will be an estimated 6.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $27.46 (1.29%) than the support at $26.66 (1.66%), 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 CSSC Offshore & Marine Engineering (Group) Company Limited stock A Buy?
The CSSC Offshore & Marine Engineering stock holds several negative signals and despite the positive trend, we believe CSSC Offshore & Marine Engineering will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.364 Sell Candidate Unchanged
Predicted Opening Price for CSSC Offshore & Marine Engineering (Group) Company Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $27.28 ( 0.615%) | $27.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600685.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 27.98 | 3.20% |
| R2 | 27.71 | 2.21% |
| R1 | 27.54 | 1.60% |
| Price | 27.11 | |
| S1 | 27.01 | -0.372% |
| S2 | 26.84 | -0.98% |
| S3 | 26.58 | -1.97% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 28.28 | 4.32% |
| R2 | 27.89 | 2.88% |
| R1 | 27.46 | 1.29% |
| Price | 27.11 | |
| S1 | 26.66 | -1.66% |
| S2 | 26.51 | -2.21% |
| S3 | 25.85 | -4.65% |
600685 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 20, 2023 | Jul 20, 2023 | Jul 20, 2023 | $0.0100 | 0.0366% |
| 2 | Jul 13, 2022 | Jul 13, 2022 | Jul 13, 2022 | $0.138 | 0.83% |
| 3 | Jul 20, 2021 | Jul 20, 2021 | Jul 20, 2021 | $0.166 | 0.81% |
| 4 | Jul 20, 2017 | Jul 20, 2017 | Jul 20, 2017 | $0.0160 | 0.0619% |
| 5 | Jul 20, 2016 | Jul 20, 2016 | Jul 20, 2016 | $0.0300 | 0.0978% |
FAQ
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