Cofco Sugar Holding CO.,LTD. Stock Forecast
Stronger technical forecast for Cofco Sugar Holding CO.,LTD. stock price after Friday trading.
(Updated on Jun 28, 2024)
The Cofco Sugar Holding CO.,LTD. stock price gained 1.48% on the last trading day (Friday, 28th Jun 2024), rising from $9.45 to $9.59. During the last trading day the stock fluctuated 3.29% from a day low at $9.43 to a day high of $9.74. The price has fallen in 5 of the last 10 days and is down by -3.71% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 9 million more shares were traded than the day before. In total, 32 million shares were bought and sold for approximately $304.83 million.
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 $9.44 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -3.44% during the next 3 months and, with a 90% probability hold a price between $9.12 and $10.54 at the end of this 3-month period.
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600737.SS Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 1.48%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Cofco Sugar Holding 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 $9.62 and $10.15. 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). The stock had a Golden Star Signal on Tuesday, January 02, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Tuesday, January 02, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Cofco Sugar Holding CO.,LTD. stock
Cofco Sugar Holding CO.,LTD. finds support from accumulated volume at $9.45 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.310 between high and low, or 3.29%. For the last week, the stock has had daily average volatility of 2.54%.
Our recommended stop-loss: $8.98 (-6.37%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (600737.SS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Cofco Sugar Holding CO.,LTD. to open at $9.59, and during the day (based on 14 day Average True Range), to move between $9.29 and $9.89, which gives a possible trading interval of +/-$0.305 (+/-3.18%) up or down from last closing price. If Cofco Sugar Holding CO.,LTD. takes out the full calculated possible swing range there will be an estimated 6.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $9.45 (1.46%) than the resistance at $9.96 (3.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cofco Sugar Holding CO.,LTD. stock A Buy?
Cofco Sugar Holding CO.,LTD. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.113 Hold/Accumulate Upgraded
Predicted Opening Price for Cofco Sugar Holding CO.,LTD. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $9.59 ( 0.0348%) | $9.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600737.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 9.90 | 3.20% |
| R2 | 9.78 | 1.96% |
| R1 | 9.71 | 1.20% |
| Price | 9.59 | |
| S1 | 9.47 | -1.27% |
| S2 | 9.40 | -2.03% |
| S3 | 9.28 | -3.27% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.03 | 15.02% |
| R2 | 10.19 | 6.26% |
| R1 | 9.96 | 3.86% |
| Price | 9.59 | |
| S1 | 9.45 | -1.46% |
| S2 | 0 | - |
| S3 | 0 | - |
600737 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 26, 2023 | Sep 26, 2023 | Sep 26, 2023 | $0.240 | 2.94% |
| 2 | Jul 12, 2023 | Jul 12, 2023 | Jul 12, 2023 | $0.260 | 3.27% |
| 3 | Jun 24, 2022 | Jun 24, 2022 | Jun 24, 2022 | $0.110 | 1.46% |
| 4 | Jun 28, 2021 | Jun 28, 2021 | Jun 28, 2021 | $0.0800 | 0.81% |
| 5 | Jul 20, 2020 | Jul 20, 2020 | Jul 20, 2020 | $0.125 | 1.52% |
FAQ
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