Shanghai Film Co., Ltd. Stock Forecast
Red day on Tuesday for Shanghai Film Co., Ltd.
(Updated on Jun 25, 2024)
The Shanghai Film Co., Ltd. stock price fell by -1.63% on the last day (Tuesday, 25th Jun 2024) from $19.65 to $19.33. It has now fallen 8 days in a row. During the last trading day the stock fluctuated 4.25% from a day low at $19.08 to a day high of $19.89. The price has fallen in 8 of the last 10 days and is down by -17.15% for this period. 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 -2 million shares and in total, 9 million shares were bought and sold for approximately $175.25 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $18.78 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -23.74% during the next 3 months and, with a 90% probability hold a price between $14.32 and $20.33 at the end of this 3-month period.
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601595.SS Signals & Forecast
There are few to no technical positive signals at the moment. The Shanghai Film 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 $20.47 and $24.98. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -39.33%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Shanghai Film Co., Ltd. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.81 between high and low, or 4.25%. For the last week, the stock has had daily average volatility of 3.03%.
Shanghai Film Co., Ltd. is oversold on RSI14 (12). 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 (601595.SS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Shanghai Film Co., Ltd. to open at $19.43, and during the day (based on 14 day Average True Range), to move between $18.30 and $20.36, which gives a possible trading interval of +/-$1.03 (+/-5.35%) up or down from last closing price. If Shanghai Film Co., Ltd. takes out the full calculated possible swing range there will be an estimated 10.71% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $21.01, some $1.68 (8.69%) from the current price of $19.33, our system finds the risk reward not very attractive.
Is Shanghai Film Co., Ltd. stock A Buy?
Shanghai Film Co., Ltd. holds several negative signals and is within a very 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.
Current score: -5.454 Strong Sell Candidate Unchanged
Predicted Opening Price for Shanghai Film Co., Ltd. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $19.43 ( 0.535%) | $19.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 601595.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 20.24 | 4.72% |
| R2 | 19.93 | 3.12% |
| R1 | 19.74 | 2.14% |
| Price | 19.33 | |
| S1 | 19.12 | -1.07% |
| S2 | 18.93 | -2.06% |
| S3 | 18.62 | -3.66% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.71 | 22.66% |
| R2 | 22.00 | 13.81% |
| R1 | 21.01 | 8.69% |
| Price | 19.33 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
601595 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 24, 2020 | Jul 24, 2020 | Jul 24, 2020 | $0.113 | 0.759% |
| 2 | Jul 18, 2019 | Jul 18, 2019 | Jul 18, 2019 | $0.192 | 1.57% |
| 3 | Jul 12, 2018 | Jul 12, 2018 | Jul 12, 2018 | $0.217 | 1.64% |
| 4 | Jun 28, 2017 | Jun 28, 2017 | Jun 28, 2017 | $0.208 | 1.01% |
FAQ
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