Zheshang Securities Co., Ltd. Stock Forecast
Zheshang Securities Co., Ltd. stock downgraded to Sell Candidate
(Updated on Jun 26, 2024)
The Zheshang Securities Co., Ltd. stock price gained 0.91% on the last trading day (Wednesday, 26th Jun 2024), rising from $10.93 to $11.03. During the last trading day the stock fluctuated 2.79% from a day low at $10.75 to a day high of $11.05. The price has risen in 6 of the last 10 days and is up by 0.64% over the past 2 weeks. Volume fell on the last day by -34 million shares and in total, 52 million shares were bought and sold for approximately $570.73 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 lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $10.56 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 7.18% during the next 3 months and, with a 90% probability hold a price between $11.32 and $14.87 at the end of this 3-month period.
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601878.SS Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 2.89%. 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 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 Zheshang Securities 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 $11.27 and $11.37. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Zheshang Securities Co., Ltd. stock
Zheshang Securities Co., Ltd. finds support from accumulated volume at $10.97 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.300 (2.79%) between high and low. For the last week, the stock has had daily average volatility of 4.05%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (601878.SS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Zheshang Securities Co., Ltd. to open at $10.94, and during the day (based on 14 day Average True Range), to move between $10.64 and $11.42, which gives a possible trading interval of +/-$0.389 (+/-3.53%) up or down from last closing price. If Zheshang Securities Co., Ltd. takes out the full calculated possible swing range there will be an estimated 7.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.97 (0.54%) than the resistance at $11.30 (2.45%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Zheshang Securities Co., Ltd. stock A Buy?
The Zheshang Securities Co., Ltd. stock holds several negative signals and despite the positive trend, we believe Zheshang Securities 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 Sell candidate.
Current score: -4.196 Sell Candidate Downgraded
Predicted Opening Price for Zheshang Securities Co., Ltd. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $10.94 ( 0.786%) | $11.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 601878.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.24 | 1.93% |
| R2 | 11.13 | 0.90% |
| R1 | 11.06 | 0.253% |
| Price | 11.03 | |
| S1 | 10.83 | -1.82% |
| S2 | 10.76 | -2.47% |
| S3 | 10.64 | -3.51% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.06 | 9.34% |
| R2 | 11.47 | 3.99% |
| R1 | 11.30 | 2.45% |
| Price | 11.03 | |
| S1 | 10.97 | -0.544% |
| S2 | 10.65 | -3.45% |
| S3 | 9.93 | -9.97% |
601878 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 11, 2023 | Aug 11, 2023 | Aug 11, 2023 | $0.130 | 1.18% |
| 2 | Oct 31, 2022 | Oct 31, 2022 | Oct 31, 2022 | $0.170 | 1.67% |
| 3 | Nov 18, 2021 | Nov 18, 2021 | Nov 18, 2021 | $0.130 | 1.09% |
| 4 | Jun 11, 2020 | Jun 11, 2020 | Jun 11, 2020 | $0.0900 | 0.92% |
| 5 | Jun 06, 2019 | Jun 06, 2019 | Jun 06, 2019 | $0.0700 | 0.82% |
FAQ
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