Anhui Kouzi Distillery Co., Ltd. Stock Forecast
Weaker technical forecast for Anhui Kouzi Distillery Co., Ltd. as stock downgraded to Hold/Accumulate.
(Updated on Jun 28, 2024)
The Anhui Kouzi Distillery Co., Ltd. stock price fell by -1.75% on the last day (Friday, 28th Jun 2024) from $39.89 to $39.19. During the last trading day the stock fluctuated 2.42% from a day low at $39.19 to a day high of $40.14. The price has fallen in 8 of the last 10 days and is down by -3.52% 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 -83 thousand shares and in total, 4 million shares were bought and sold for approximately $174.39 million.
The stock lies in the lower part of a 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 $38.86 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 2.92% during the next 3 months and, with a 90% probability hold a price between $40.00 and $47.50 at the end of this 3-month period.
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603589.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 Anhui Kouzi Distillery 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 $40.18 and $41.75. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -13.96%. 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 Anhui Kouzi Distillery Co., Ltd. stock
Anhui Kouzi Distillery Co., Ltd. finds support from accumulated volume at $39.12 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.95 between high and low, or 2.42%. For the last week the stock has had daily average volatility of 3.15%.
Our recommended stop-loss: $36.71 (-6.34%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 51 days ago.)
Trading Expectations (603589.SS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Anhui Kouzi Distillery Co., Ltd. to open at $39.51, and during the day (based on 14 day Average True Range), to move between $38.15 and $40.23, which gives a possible trading interval of +/-$1.04 (+/-2.64%) up or down from last closing price. If Anhui Kouzi Distillery Co., Ltd. takes out the full calculated possible swing range there will be an estimated 5.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $39.12 (0.18%) than the resistance at $41.82 (6.71%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Anhui Kouzi Distillery Co., Ltd. stock A Buy?
Anhui Kouzi Distillery Co., Ltd. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.552 Hold/Accumulate Downgraded
Predicted Opening Price for Anhui Kouzi Distillery Co., Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $39.51 ( 0.81%) | $39.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 603589.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 40.46 | 3.23% |
| R2 | 40.09 | 2.31% |
| R1 | 39.87 | 1.73% |
| Price | 39.19 | |
| S1 | 39.14 | -0.118% |
| S2 | 38.92 | -0.690% |
| S3 | 38.56 | -1.62% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 45.55 | 16.23% |
| R2 | 43.76 | 11.66% |
| R1 | 41.82 | 6.71% |
| Price | 39.19 | |
| S1 | 39.12 | -0.179% |
| S2 | 38.99 | -0.510% |
| S3 | 38.90 | -0.740% |
603589 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 04, 2024 | Jul 04, 2024 | Jul 04, 2024 | $1.50 | 3.83% |
| 2 | Jun 15, 2023 | Jun 15, 2023 | Jun 15, 2023 | $1.50 | 2.68% |
| 3 | Jun 23, 2022 | Jun 23, 2022 | Jun 23, 2022 | $1.50 | 2.74% |
| 4 | Jun 24, 2021 | Jun 24, 2021 | Jun 24, 2021 | $1.20 | 1.71% |
| 5 | Jun 09, 2020 | Jun 09, 2020 | Jun 09, 2020 | $1.50 | 3.04% |
FAQ
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