Guang Dong Sitong Group Co.,Ltd Stock Forecast
High volatility in Guang Dong Sitong Group Co.,Ltd stock price on Thursday which ended trading at $5.88
(Updated on Jul 04, 2024)
The Guang Dong Sitong Group Co.,Ltd stock price fell by -8.41% on the last day (Thursday, 4th Jul 2024) from $6.42 to $5.88. During the last trading day the stock fluctuated 11.07% from a day low at $5.78 to a day high of $6.42. The price has been going up and down for this period, and there has been a -2.33% loss for the last 2 weeks. Volume has increased on the last day by 9 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 12 million shares were bought and sold for approximately $72.84 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Guang Dong Sitong Group Co.,Ltd stock with a 90% probability to be traded between $5.18 and $6.89 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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603838.SS Signals & Forecast
The Guang Dong Sitong Group 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 $6.17. On a fall, the stock will find some support from the long-term average at approximately $5.80. 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. 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 Monday, July 01, 2024, and so far it has fallen -8.55%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Guang Dong Sitong Group Co.,Ltd stock
Guang Dong Sitong Group Co.,Ltd finds support from accumulated volume at $5.83 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 $0.640 between high and low, or 11.07%. For the last week, the stock has had daily average volatility of 5.91%.
Our recommended stop-loss: $5.66 (-3.74%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 24 days ago.)
Trading Expectations (603838.SS) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Guang Dong Sitong Group Co.,Ltd to open at $6.03, and during the day (based on 14 day Average True Range), to move between $5.58 and $6.18, which gives a possible trading interval of +/-$0.304 (+/-5.17%) up or down from last closing price. If Guang Dong Sitong Group Co.,Ltd takes out the full calculated possible swing range there will be an estimated 10.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.83 (0.85%) than the resistance at $6.22 (5.78%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Guang Dong Sitong Group Co.,Ltd stock A Buy?
Guang Dong Sitong Group 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: -0.477 Hold/Accumulate Downgraded
Predicted Opening Price for Guang Dong Sitong Group Co.,Ltd of Friday, July 5, 2024
Fair opening price July 5, 2024 | Current price |
---|---|
$6.03 ( 2.49%) | $5.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 603838.SS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 6.67 | 13.38% |
R2 | 6.42 | 9.22% |
R1 | 6.27 | 6.65% |
Price | 5.88 | |
S1 | 5.78 | -1.66% |
S2 | 5.63 | -4.23% |
S3 | 5.39 | -8.39% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 6.69 | 13.78% |
R2 | 6.66 | 13.27% |
R1 | 6.22 | 5.78% |
Price | 5.88 | |
S1 | 5.83 | -0.85% |
S2 | 5.64 | -4.08% |
S3 | 5.10 | -13.27% |
603838 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 26, 2023 | May 26, 2023 | May 26, 2023 | $0.0400 | 0.714% |
2 | Jun 09, 2022 | Jun 09, 2022 | Jun 09, 2022 | $0.0400 | 0.635% |
3 | Jun 08, 2021 | Jun 08, 2021 | Jun 08, 2021 | $0.0200 | 0.283% |
4 | Jun 02, 2020 | Jun 02, 2020 | Jun 02, 2020 | $0.0500 | 0.636% |
5 | Jun 28, 2019 | Jun 28, 2019 | Jun 28, 2019 | $0.0500 | 0.523% |
FAQ
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