Sinotrans Limited Stock Forecast
Sinotrans Limited stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)
The Sinotrans Limited stock price gained 3.49% on the last trading day (Friday, 28th Jun 2024), rising from $5.44 to $5.63. During the last trading day the stock fluctuated 4.61% from a day low at $5.42 to a day high of $5.67. The price has fallen in 6 of the last 10 days and is down by -0.88% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 million more shares were traded than the day before. In total, 23 million shares were bought and sold for approximately $132.01 million.
The stock lies in the middle of a 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 -11.66% during the next 3 months and, with a 90% probability hold a price between $4.79 and $5.27 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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601598.SS Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 3.49%. 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 Sinotrans Limited 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 $5.85. On a fall, the stock will find some support from the short-term average at $5.56. 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 Sinotrans Limited stock
Sinotrans Limited finds support from accumulated volume at $5.55 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 $0.250 between high and low, or 4.61%. For the last week, the stock has had daily average volatility of 3.28%.
Our recommended stop-loss: $5.39 (-4.32%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 48 days ago.)
Trading Expectations (601598.SS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Sinotrans Limited to open at $5.57, and during the day (based on 14 day Average True Range), to move between $5.46 and $5.80, which gives a possible trading interval of +/-$0.173 (+/-3.07%) up or down from last closing price. If Sinotrans Limited takes out the full calculated possible swing range there will be an estimated 6.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.55 (1.42%) than the resistance at $5.79 (2.84%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sinotrans Limited stock A Buy?
Sinotrans Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.379 Hold/Accumulate Upgraded
Predicted Opening Price for Sinotrans Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $5.57 ( 1.01%) | $5.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 601598.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.82 | 3.43% |
| R2 | 5.73 | 1.74% |
| R1 | 5.67 | 0.690% |
| Price | 5.63 | |
| S1 | 5.48 | -2.70% |
| S2 | 5.42 | -3.75% |
| S3 | 5.32 | -5.45% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.24 | 10.83% |
| R2 | 5.87 | 4.26% |
| R1 | 5.79 | 2.84% |
| Price | 5.63 | |
| S1 | 5.55 | -1.42% |
| S2 | 5.47 | -2.84% |
| S3 | 5.44 | -3.37% |
601598 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 19, 2023 | Oct 19, 2023 | Oct 19, 2023 | $0.145 | 3.10% |
| 2 | Jun 28, 2023 | Jun 28, 2023 | Jun 28, 2023 | $0.100 | 2.22% |
| 3 | Nov 18, 2022 | Nov 18, 2022 | Nov 18, 2022 | $0.100 | 2.72% |
| 4 | Jul 15, 2022 | Jul 15, 2022 | Jul 15, 2022 | $0.180 | 5.04% |
| 5 | Jul 28, 2021 | Jul 28, 2021 | Jul 28, 2021 | $0.120 | 2.64% |
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