Eurocrane (China) Co., Ltd. Stock Forecast
Eurocrane (China) Co., Ltd. stock downgraded to Strong Sell Candidate
(Updated on Jun 28, 2024)
The Eurocrane (China) Co., Ltd. stock price fell by -0.87% on the last day (Friday, 28th Jun 2024) from $6.93 to $6.87. During the last trading day the stock fluctuated 3.21% from a day low at $6.85 to a day high of $7.07. The price has fallen in 6 of the last 10 days and is down by -6.02% for this period. Volume has increased on the last day by 1 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, 4 million shares were bought and sold for approximately $29.63 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -9.68% during the next 3 months and, with a 90% probability hold a price between $5.74 and $7.95 at the end of this 3-month period.
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603966.SS Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 0.292%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Eurocrane (China) 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 $6.98 and $7.95. A break-up above any of these levels will issue buy signals. 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 Eurocrane (China) Co., Ltd. stock
Eurocrane (China) Co., Ltd. finds support from accumulated volume at $6.85 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 $0.220 between high and low, or 3.21%. For the last week, the stock has had daily average volatility of 3.78%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (603966.SS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Eurocrane (China) Co., Ltd. to open at $6.93, and during the day (based on 14 day Average True Range), to move between $6.58 and $7.16, which gives a possible trading interval of +/-$0.289 (+/-4.21%) up or down from last closing price. If Eurocrane (China) Co., Ltd. takes out the full calculated possible swing range there will be an estimated 8.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.85 (0.29%) than the resistance at $7.93 (15.43%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Eurocrane (China) Co., Ltd. stock A Buy?
Eurocrane (China) Co., Ltd. holds several negative signals and is within a very 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.189 Strong Sell Candidate Downgraded
Predicted Opening Price for Eurocrane (China) Co., Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $6.93 ( 0.87%) | $6.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 603966.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.15 | 4.08% |
| R2 | 7.07 | 2.85% |
| R1 | 7.01 | 2.10% |
| Price | 6.87 | |
| S1 | 6.85 | -0.350% |
| S2 | 6.79 | -1.11% |
| S3 | 6.71 | -2.33% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.51 | 23.87% |
| R2 | 8.40 | 22.27% |
| R1 | 7.93 | 15.43% |
| Price | 6.87 | |
| S1 | 6.85 | -0.291% |
| S2 | 0 | - |
| S3 | 0 | - |
603966 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 07, 2024 | Jun 07, 2024 | Jun 07, 2024 | $0.230 | 3.13% |
| 2 | Jul 04, 2023 | Jul 04, 2023 | Jul 04, 2023 | $0.260 | 2.45% |
| 3 | Jul 01, 2022 | Jul 01, 2022 | Jul 01, 2022 | $0.220 | 2.54% |
| 4 | Aug 03, 2021 | Aug 03, 2021 | Aug 03, 2021 | $0.214 | 3.29% |
| 5 | May 29, 2020 | May 29, 2020 | May 29, 2020 | $0.0714 | 1.31% |
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