Shaanxi Broadcast & TV Network Stock Forecast
A very strong day for Shaanxi Broadcast & TV Network stock price on Wednesday
(Updated on Jun 26, 2024)
The Shaanxi Broadcast & TV Network stock price gained 7.31% on the last trading day (Wednesday, 26th Jun 2024), rising from $2.60 to $2.79. During the last trading day the stock fluctuated 8.95% from a day low at $2.57 to a day high of $2.80. The price has fallen in 6 of the last 10 days and is down by -8.52% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 13 million shares were bought and sold for approximately $35.65 million.
The stock lies in the middle of a 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 -34.07% during the next 3 months and, with a 90% probability hold a price between $1.68 and $2.05 at the end of this 3-month period. 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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600831.SS Signals & Forecast
There are mixed signals in the stock today. The Shaanxi Broadcast & TV Network 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 $2.80 and $3.25. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 7.31%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Shaanxi Broadcast & TV Network stock
On the downside, the stock finds support just below today's level from accumulated volume at $2.60. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
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 $0.230 between high and low, or 8.95%. For the last week, the stock has had daily average volatility of 5.79%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (600831.SS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Shaanxi Broadcast & TV Network Intermediary(Group)Co.,Ltd. to open at $2.72, and during the day (based on 14 day Average True Range), to move between $2.65 and $2.93, which gives a possible trading interval of +/-$0.140 (+/-5.02%) up or down from last closing price. If Shaanxi Broadcast & TV Network Intermediary(Group)Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 10.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.84 (1.79%) than the support at $2.60 (6.81%), 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 Shaanxi Broadcast & TV Network Intermediary(Group)Co.,Ltd. stock A Buy?
Shaanxi Broadcast & TV Network 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: -1.878 Sell Candidate Unchanged
Predicted Opening Price for Shaanxi Broadcast & TV Network Intermediary(Group)Co.,Ltd. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $2.72 ( 2.51%) | $2.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600831.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.95 | 5.73% |
| R2 | 2.86 | 2.59% |
| R1 | 2.81 | 0.640% |
| Price | 2.79 | |
| S1 | 2.63 | -5.66% |
| S2 | 2.58 | -7.60% |
| S3 | 2.49 | -10.75% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.48 | 24.73% |
| R2 | 2.94 | 5.38% |
| R1 | 2.84 | 1.79% |
| Price | 2.79 | |
| S1 | 2.60 | -6.81% |
| S2 | 0 | - |
| S3 | 0 | - |
600831 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 13, 2023 | Jul 13, 2023 | Jul 13, 2023 | $0.0200 | 0.342% |
| 2 | Jul 13, 2022 | Jul 13, 2022 | Jul 13, 2022 | $0.0300 | 0.532% |
| 3 | Jul 20, 2021 | Jul 20, 2021 | Jul 20, 2021 | $0.0300 | 0.540% |
| 4 | Jun 13, 2019 | Jun 13, 2019 | Jun 13, 2019 | $0.0100 | 0.0873% |
| 5 | May 25, 2018 | May 25, 2018 | May 25, 2018 | $0.0400 | 0.522% |
FAQ
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