Beijing Aerospace Changfeng Co.,Ltd Stock Forecast
Beijing Aerospace Changfeng Co.,Ltd stock downgraded from Hold/Accumulate to Strong Sell Candidate after Friday trading session.
(Updated on Jun 21, 2024)
The Beijing Aerospace Changfeng Co.,Ltd stock price fell by -2.43% on the last day (Friday, 21st Jun 2024) from $9.45 to $9.22. During the last trading day the stock fluctuated 3.38% from a day low at $9.16 to a day high of $9.47. The price has risen in 6 of the last 10 days and is up by 4.18% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -9 million shares and in total, 13 million shares were bought and sold for approximately $116.36 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 12.27% during the next 3 months and, with a 90% probability hold a price between $8.93 and $11.30 at the end of this 3-month period.
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600855.SS Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Beijing Aerospace Changfeng Co.,Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $9.64 and $9.24. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 19, 2024, and so far it has fallen -8.08%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Beijing Aerospace Changfeng Co.,Ltd stock
Beijing Aerospace Changfeng Co.,Ltd finds support from accumulated volume at $8.84 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 3.38%. For the last week, the stock has had daily average volatility of 4.25%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (600855.SS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Beijing Aerospace Changfeng Co.,Ltd to open at $9.28, and during the day (based on 14 day Average True Range), to move between $8.71 and $9.73, which gives a possible trading interval of +/-$0.509 (+/-5.53%) up or down from last closing price. If Beijing Aerospace Changfeng Co.,Ltd takes out the full calculated possible swing range there will be an estimated 11.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $9.34 (1.30%) than the support at $8.84 (4.12%), 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 Beijing Aerospace Changfeng Co.,Ltd stock A Buy?
The Beijing Aerospace Changfeng Co.,Ltd stock holds several negative signals and despite the positive trend, we believe Beijing Aerospace Changfeng Co.,Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.
Current score: -5.225 Strong Sell Candidate Downgraded
Predicted Opening Price for Beijing Aerospace Changfeng Co.,Ltd of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $9.28 ( 0.687%) | $9.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600855.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 9.59 | 4.05% |
| R2 | 9.47 | 2.76% |
| R1 | 9.40 | 1.97% |
| Price | 9.22 | |
| S1 | 9.16 | -0.597% |
| S2 | 9.09 | -1.39% |
| S3 | 8.97 | -2.68% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 9.75 | 5.75% |
| R2 | 9.49 | 2.93% |
| R1 | 9.34 | 1.30% |
| Price | 9.22 | |
| S1 | 8.84 | -4.12% |
| S2 | 8.75 | -5.10% |
| S3 | 8.58 | -6.94% |
600855 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.0035 | 0.0319% |
| 2 | Jun 28, 2022 | Jun 28, 2022 | Jun 28, 2022 | $0.0790 | 0.685% |
| 3 | Jul 15, 2021 | Jul 15, 2021 | Jul 15, 2021 | $0.0980 | 0.777% |
| 4 | Jul 06, 2020 | Jul 06, 2020 | Jul 06, 2020 | $0.0300 | 0.180% |
| 5 | Jun 20, 2019 | Jun 20, 2019 | Jun 20, 2019 | $0.0650 | 0.481% |
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