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AI Analysis of 600846.SS
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Shanghai Tongji Science&Technology stock upgraded to Sell Candidate.
(Updated on Jun 21, 2024)

Sell candidate since May 24, 2024 Loss -10.15% PDF

The Shanghai Tongji Science&Technology stock price gained 1.11% on the last trading day (Friday, 21st Jun 2024), rising from $7.18 to $7.26. During the last trading day the stock fluctuated 3.08% from a day low at $7.15 to a day high of $7.37. The price has risen in 5 of the last 10 days but is still down by -1.76% for this period. Volume fell on the last day by -1 million shares and in total, 4 million shares were bought and sold for approximately $28.40 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 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 -5.75% during the next 3 months and, with a 90% probability hold a price between $6.54 and $7.83 at the end of this 3-month period.

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600846.SS Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 1.11%. 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 Shanghai Tongji Science&Technology 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 $7.39 and $7.91. 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 Shanghai Tongji Science&Technology stock

Shanghai Tongji Science&Technology finds support from accumulated volume at $7.18 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 $0.220 between high and low, or 3.08%. For the last week, the stock has had daily average volatility of 2.34%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (600846.SS) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect Shanghai Tongji Science&Technology Industrial Co.,Ltd to open at $7.26, and during the day (based on 14 day Average True Range), to move between $7.08 and $7.44, which gives a possible trading interval of +/-$0.182 (+/-2.50%) up or down from last closing price. If Shanghai Tongji Science&Technology Industrial Co.,Ltd takes out the full calculated possible swing range there will be an estimated 5.01% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $7.18 (1.10%) than the resistance at $7.39 (1.79%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Shanghai Tongji Science&Technology Industrial Co.,Ltd stock A Buy?

Shanghai Tongji Science&Technology holds several negative signals and is within a 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: -2.631 Sell Candidate Upgraded

Predicted Opening Price for Shanghai Tongji Science&Technology Industrial Co.,Ltd of Monday, June 24, 2024

Fair opening price June 24, 2024 Current price
$7.26 ( 0.00000000%) $7.26

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for 600846.SS

Fibonacci Support & Resistance Levels

Level Price
R3 7.48 3.03%
R2 7.40 1.87%
R1 7.34 1.16%
Price 7.26
S1 7.18 -1.16%
S2 7.12 -1.87%
S3 7.04 -3.03%

Accumulated Volume Support & Resistance Levels

Level Price
R3 8.05 10.88%
R2 8.01 10.33%
R1 7.39 1.79%
Price 7.26
S1 7.18 -1.10%
S2 0 -
S3 0 -

600846 Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Oct 27, 2023 Oct 27, 2023 Oct 27, 2023 $0.170 1.95%
2 Aug 26, 2022 Aug 26, 2022 Aug 26, 2022 $0.280 3.55%
3 Jul 16, 2021 Jul 16, 2021 Jul 16, 2021 $0.320 3.91%
4 Jul 28, 2020 Jul 28, 2020 Jul 28, 2020 $0.340 3.95%
5 Aug 07, 2019 Aug 07, 2019 Aug 07, 2019 $0.150 1.99%

FAQ

What is the symbol for Shanghai Tongji Science&Technology Industrial Co.,Ltd Stock and on which exchange is it traded?
The symbol for Shanghai Tongji Science&Technology Industrial Co.,Ltd is 600846.SS and it is traded on the SHH (Shanghai Stock Exchange).

Should I buy or sell Shanghai Tongji Science&Technology Industrial Co.,Ltd Stock?
Shanghai Tongji Science&Technology holds several negative signals and is within a 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.

How to buy Shanghai Tongji Science&Technology Industrial Co.,Ltd Stock?
Shanghai Tongji Science&Technology Industrial Co.,Ltd Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Shanghai Tongji Science&Technology Industrial Co.,Ltd Stock.

What's the current price of Shanghai Tongji Science&Technology Industrial Co.,Ltd Stock?
As of the end of day on the Jun 21, 2024, the price of an Shanghai Tongji Science&Technology Industrial Co.,Ltd (600846.SS) share was $7.26.

What is the 52-week high and low for Shanghai Tongji Science&Technology Industrial Co.,Ltd Stock?
The 52-week high for Shanghai Tongji Science&Technology Industrial Co.,Ltd Stock is $12.10 and the 52-week low is $7.15.

What is the market capitalization of Shanghai Tongji Science&Technology Industrial Co.,Ltd Stock?
As of the Jun 21, 2024, the market capitalization of Shanghai Tongji Science&Technology Industrial Co.,Ltd is 4.536B.
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