YanTai Yuancheng Gold Co., Ltd. Stock Forecast
Volatile ride for YanTai Yuancheng Gold Co., Ltd. stock price on Tuesday moving between $0.360 and $0.410
(Updated on Jun 25, 2024)
The YanTai Yuancheng Gold Co., Ltd. stock price gained 2.63% on the last trading day (Tuesday, 25th Jun 2024), rising from $0.380 to $0.390. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 13.89% from a day low at $0.360 to a day high of $0.410. The price has been going up and down for this period, and there has been a -11.36% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 843 thousand more shares were traded than the day before. In total, 9 million shares were bought and sold for approximately $3.51 million.
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. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. 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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600766.SS Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 14.71%. 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 YanTai Yuancheng Gold Co., Ltd. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $8.97. On a fall, the stock will find some support from the short-term average at $0.366. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for YanTai Yuancheng Gold Co., Ltd. stock
YanTai Yuancheng Gold Co., Ltd. finds support from accumulated volume at $0.380 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0500 between high and low, or 13.89%. For the last week, the stock has had daily average volatility of 10.26%.
YanTai Yuancheng Gold Co., Ltd. is oversold on RSI14 (1). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (600766.SS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect YanTai Yuancheng Gold Co., Ltd. to open at $0.387, and during the day (based on 14 day Average True Range), to move between -$0.174 and $0.95, which gives a possible trading interval of +/-$0.564 (+/-144.59%) up or down from last closing price. If YanTai Yuancheng Gold Co., Ltd. takes out the full calculated possible swing range there will be an estimated 289.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.400 (2.56%) than the support at $0.380 (2.56%), 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 YanTai Yuancheng Gold Co., Ltd. stock A Buy?
YanTai Yuancheng Gold Co., Ltd. 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: -2.465 Sell Candidate Unchanged
Predicted Opening Price for YanTai Yuancheng Gold Co., Ltd. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.387 ( 0.85%) | $0.390 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600766.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.437 | 11.97% |
| R2 | 0.418 | 7.07% |
| R1 | 0.406 | 4.04% |
| Price | 0.390 | |
| S1 | 0.368 | -5.75% |
| S2 | 0.356 | -8.78% |
| S3 | 0.337 | -13.68% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.440 | 12.82% |
| R2 | 0.420 | 7.69% |
| R1 | 0.400 | 2.56% |
| Price | 0.390 | |
| S1 | 0.380 | -2.56% |
| S2 | 0.360 | -7.69% |
| S3 | 0.340 | -12.82% |
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