Dashang Co., Ltd. Stock Forecast
Dashang Co., Ltd. stock upgraded to Sell Candidate.
(Updated on Jun 25, 2024)
The Dashang Co., Ltd. stock price gained 1.58% on the last trading day (Tuesday, 25th Jun 2024), rising from $16.48 to $16.74. During the last trading day the stock fluctuated 3.25% from a day low at $16.33 to a day high of $16.86. The price has been going up and down for this period, and there has been a -0.71% loss for the last 2 weeks. Volume fell on the last day by -243 thousand shares and in total, 2 million shares were bought and sold for approximately $39.58 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $16.48 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Dashang Co., Ltd. stock with a 90% probability to be traded between $16.34 and $21.39 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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600694.SS Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 1.58%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. 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. The Dashang 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 $16.82 and $19.45. 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 Dashang Co., Ltd. stock
Dashang Co., Ltd. finds support from accumulated volume at $16.66 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 $0.530 between high and low, or 3.25%. For the last week, the stock has had daily average volatility of 2.47%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (600694.SS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Dashang Co., Ltd. to open at $16.64, and during the day (based on 14 day Average True Range), to move between $16.17 and $17.31, which gives a possible trading interval of +/-$0.569 (+/-3.40%) up or down from last closing price. If Dashang Co., Ltd. takes out the full calculated possible swing range there will be an estimated 6.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $16.66 (0.48%) than the resistance at $17.77 (6.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Dashang Co., Ltd. stock A Buy?
Dashang 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.279 Sell Candidate Upgraded
Predicted Opening Price for Dashang Co., Ltd. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $16.64 ( 0.577%) | $16.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600694.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.17 | 2.59% |
| R2 | 16.97 | 1.38% |
| R1 | 16.85 | 0.632% |
| Price | 16.74 | |
| S1 | 16.44 | -1.79% |
| S2 | 16.32 | -2.53% |
| S3 | 16.11 | -3.74% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 20.42 | 21.98% |
| R2 | 19.53 | 16.67% |
| R1 | 17.77 | 6.15% |
| Price | 16.74 | |
| S1 | 16.66 | -0.478% |
| S2 | 16.54 | -1.19% |
| S3 | 16.48 | -1.55% |
600694 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 11, 2024 | Jun 11, 2024 | Jun 11, 2024 | $1.00 | 5.93% |
| 2 | Jun 07, 2023 | Jun 07, 2023 | Jun 07, 2023 | $0.500 | 2.83% |
| 3 | May 31, 2022 | May 31, 2022 | May 31, 2022 | $2.00 | 12.06% |
| 4 | Jul 02, 2021 | Jul 02, 2021 | Jul 02, 2021 | $0.600 | 3.28% |
| 5 | Jun 24, 2020 | Jun 24, 2020 | Jun 24, 2020 | $0.770 | 3.57% |
FAQ
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