Anhui Guangxin Agrochemical Co., Ltd. Stock Forecast
Anhui Guangxin Agrochemical Co., Ltd. stock price down 0.703% on Friday
(Updated on Jun 21, 2024)
The Anhui Guangxin Agrochemical Co., Ltd. stock price fell by -0.703% on the last day (Friday, 21st Jun 2024) from $12.81 to $12.72. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.97% from a day low at $12.72 to a day high of $12.97. The price has fallen in 8 of the last 10 days and is down by -5.64% 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 -568 thousand shares and in total, 3 million shares were bought and sold for approximately $39.71 million.
The stock has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($13.39) are considered to be a "second chance" to get out. According to the fan-theory $12.04 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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603599.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 Guangxin Agrochemical 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 $12.96 and $14.12. 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 07, 2024, and so far it has fallen -18.67%. 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 Guangxin Agrochemical 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 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 1.97%. For the last week, the stock has had daily average volatility of 2.31%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (603599.SS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Anhui Guangxin Agrochemical Co., Ltd. to open at $12.80, and during the day (based on 14 day Average True Range), to move between $12.37 and $13.07, which gives a possible trading interval of +/-$0.353 (+/-2.77%) up or down from last closing price. If Anhui Guangxin Agrochemical Co., Ltd. takes out the full calculated possible swing range there will be an estimated 5.54% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $14.59, some $1.87 (14.70%) from the current price of $12.72, our system finds the risk reward not very attractive.
Is Anhui Guangxin Agrochemical Co., Ltd. stock A Buy?
Anhui Guangxin Agrochemical Co., Ltd. holds several negative signals and is within a 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: -2.046 Sell Candidate Unchanged
Predicted Opening Price for Anhui Guangxin Agrochemical Co., Ltd. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $12.80 ( 0.655%) | $12.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 603599.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.05 | 2.62% |
| R2 | 12.96 | 1.87% |
| R1 | 12.90 | 1.41% |
| Price | 12.72 | |
| S1 | 12.71 | -0.0956% |
| S2 | 12.65 | -0.559% |
| S3 | 12.55 | -1.31% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.46 | 21.54% |
| R2 | 14.68 | 15.41% |
| R1 | 14.59 | 14.70% |
| Price | 12.72 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
603599 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 10, 2023 | Jul 10, 2023 | Jul 10, 2023 | $1.00 | 5.21% |
| 2 | Dec 16, 2022 | Dec 16, 2022 | Dec 16, 2022 | $0.300 | 1.33% |
| 3 | Jun 21, 2022 | Jun 21, 2022 | Jun 21, 2022 | $1.00 | 4.83% |
| 4 | Jun 16, 2021 | Jun 16, 2021 | Jun 16, 2021 | $0.307 | 2.10% |
| 5 | Jul 04, 2019 | Jul 04, 2019 | Jul 04, 2019 | $0.125 | 1.66% |
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