Yonghui Superstores Co., Ltd. Stock Forecast
Yonghui Superstores Co., Ltd. stock downgraded to Hold/Accumulate
(Updated on Jun 21, 2024)
The Yonghui Superstores Co., Ltd. stock price fell by -0.362% on the last day (Friday, 21st Jun 2024) from $2.76 to $2.75. During the last trading day the stock fluctuated 7.09% from a day low at $2.68 to a day high of $2.87. The price has risen in 6 of the last 10 days and is up by 9.13% 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 -55 million shares and in total, 206 million shares were bought and sold for approximately $566.29 million.
The stock lies in the middle of a 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 23.53% during the next 3 months and, with a 90% probability hold a price between $3.09 and $3.59 at the end of this 3-month period.
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601933.SS Signals & Forecast
The Yonghui Superstores Co., Ltd. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $2.77. On a fall, the stock will find some support from the long-term average at approximately $2.56. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Wednesday, June 19, 2024, and so far it has fallen -4.84%. 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 Yonghui Superstores Co., Ltd. stock
Yonghui Superstores Co., Ltd. finds support from accumulated volume at $2.72 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.190 between high and low, or 7.09%. For the last week, the stock has had daily average volatility of 7.29%.
Our recommended stop-loss: $2.62 (-4.87%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (601933.SS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Yonghui Superstores Co., Ltd. to open at $2.77, and during the day (based on 14 day Average True Range), to move between $2.59 and $2.91, which gives a possible trading interval of +/-$0.155 (+/-5.64%) up or down from last closing price. If Yonghui Superstores Co., Ltd. takes out the full calculated possible swing range there will be an estimated 11.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.76 (0.36%) than the support at $2.72 (1.09%), 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 Yonghui Superstores Co., Ltd. stock A Buy?
Yonghui Superstores Co., Ltd. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.846 Hold/Accumulate Downgraded
Predicted Opening Price for Yonghui Superstores Co., Ltd. of Monday, June 24, 2024
Fair opening price June 24, 2024 | Current price |
---|---|
$2.77 ( 0.606%) | $2.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 601933.SS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 2.96 | 7.52% |
R2 | 2.88 | 4.88% |
R1 | 2.84 | 3.25% |
Price | 2.75 | |
S1 | 2.69 | -2.03% |
S2 | 2.65 | -3.66% |
S3 | 2.58 | -6.30% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 2.89 | 5.09% |
R2 | 2.80 | 1.82% |
R1 | 2.76 | 0.364% |
Price | 2.75 | |
S1 | 2.72 | -1.09% |
S2 | 2.63 | -4.36% |
S3 | 2.56 | -6.91% |
601933 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 17, 2022 | Jun 17, 2022 | Jun 17, 2022 | $0.0200 | 0.484% |
2 | Jul 21, 2021 | Jul 21, 2021 | Jul 21, 2021 | $0.0204 | 0.471% |
3 | Jun 18, 2020 | Jun 18, 2020 | Jun 18, 2020 | $0.130 | 1.40% |
4 | Jun 24, 2019 | Jun 24, 2019 | Jun 24, 2019 | $0.110 | 1.05% |
5 | May 31, 2018 | May 31, 2018 | May 31, 2018 | $0.150 | 1.56% |
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