Chengtun Mining Group Co., Ltd. Stock Forecast
Chengtun Mining Group Co., Ltd. stock price ended at $3.67 on Tuesday, after gaining 0.82%.
(Updated on Jun 25, 2024)
The Chengtun Mining Group Co., Ltd. stock price gained 0.82% on the last trading day (Tuesday, 25th Jun 2024), rising from $3.64 to $3.67. During the last trading day the stock fluctuated 3.03% from a day low at $3.63 to a day high of $3.74. The price has been going up and down for this period, and there has been a 3.09% gain for the last 2 weeks. Volume fell on the last day by -31 million shares and in total, 81 million shares were bought and sold for approximately $297.44 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 lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -20.47% during the next 3 months and, with a 90% probability hold a price between $2.60 and $3.70 at the end of this 3-month period.
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600711.SS Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Chengtun Mining Group 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 $3.67 and $4.17. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 20, 2024, and so far it has fallen -5.90%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Chengtun Mining Group Co., Ltd. stock
Chengtun Mining Group Co., Ltd. finds support from accumulated volume at $3.64 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 $0.110 between high and low, or 3.03%. For the last week, the stock has had daily average volatility of 5.45%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (600711.SS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Chengtun Mining Group Co., Ltd. to open at $3.68, and during the day (based on 14 day Average True Range), to move between $3.48 and $3.86, which gives a possible trading interval of +/-$0.195 (+/-5.30%) up or down from last closing price. If Chengtun Mining Group Co., Ltd. takes out the full calculated possible swing range there will be an estimated 10.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.64 (0.82%) than the resistance at $3.90 (6.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Chengtun Mining Group Co., Ltd. stock A Buy?
Chengtun Mining Group 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: -4.155 Sell Candidate Unchanged
Predicted Opening Price for Chengtun Mining Group Co., Ltd. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $3.68 ( 0.272%) | $3.67 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600711.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.79 | 3.27% |
| R2 | 3.75 | 2.12% |
| R1 | 3.72 | 1.42% |
| Price | 3.67 | |
| S1 | 3.64 | -0.87% |
| S2 | 3.61 | -1.58% |
| S3 | 3.57 | -2.72% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.56 | 24.25% |
| R2 | 4.34 | 18.26% |
| R1 | 3.90 | 6.27% |
| Price | 3.67 | |
| S1 | 3.64 | -0.82% |
| S2 | 3.63 | -1.09% |
| S3 | 3.58 | -2.45% |
600711 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 21, 2024 | Jun 21, 2024 | Jun 21, 2024 | $0.0257 | 0.675% |
| 2 | Jul 11, 2022 | Jul 11, 2022 | Jul 11, 2022 | $0.0380 | 0.517% |
| 3 | Jul 14, 2021 | Jul 14, 2021 | Jul 14, 2021 | $0.0100 | 0.116% |
| 4 | Jul 14, 2020 | Jul 14, 2020 | Jul 14, 2020 | $0.0420 | 0.718% |
| 5 | Jun 10, 2019 | Jun 10, 2019 | Jun 10, 2019 | $0.0230 | 0.449% |
FAQ
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