Beijing Tianyishangjia New Material Stock Forecast
Evaluation of Beijing Tianyishangjia New Material stock downgraded after the last trading session.
(Updated on Jun 28, 2024)
The Beijing Tianyishangjia New Material stock price fell by -0.662% on the last day (Friday, 28th Jun 2024) from $6.04 to $6.00. During the last trading day the stock fluctuated 3.17% from a day low at $5.99 to a day high of $6.18. The price has fallen in 7 of the last 10 days and is down by -9.5% for this period. Volume has increased on the last day by 174 thousand 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, 8 million shares were bought and sold for approximately $45.31 million.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $5.94, a level that may pose a second chance to hit a runner. According to fan-theory $6.82 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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688033.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 Beijing Tianyishangjia New Material 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 $6.15 and $6.97. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 13, 2024, and so far it has fallen -11.50%. Further fall is indicated until a new bottom pivot has been found. 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 Beijing Tianyishangjia New Material 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 $0.190 between high and low, or 3.17%. For the last week, the stock has had daily average volatility of 3.68%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (688033.SS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Beijing Tianyishangjia New Material Corp., Ltd. to open at $6.06, and during the day (based on 14 day Average True Range), to move between $5.75 and $6.25, which gives a possible trading interval of +/-$0.253 (+/-4.22%) up or down from last closing price. If Beijing Tianyishangjia New Material Corp., Ltd. takes out the full calculated possible swing range there will be an estimated 8.45% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $6.44, some $0.440 (7.33%) from the current price of $6.00, our system finds the risk reward not very attractive.
Is Beijing Tianyishangjia New Material Corp., Ltd. stock A Buy?
Beijing Tianyishangjia New Material 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. 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: -5.392 Strong Sell Candidate Downgraded
Predicted Opening Price for Beijing Tianyishangjia New Material Corp., Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $6.06 ( 0.94%) | $6.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 688033.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.25 | 4.11% |
| R2 | 6.17 | 2.90% |
| R1 | 6.13 | 2.15% |
| Price | 6.00 | |
| S1 | 5.98 | -0.265% |
| S2 | 5.94 | -1.01% |
| S3 | 5.87 | -2.22% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.39 | 23.17% |
| R2 | 7.15 | 19.17% |
| R1 | 6.44 | 7.33% |
| Price | 6.00 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
688033 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 15, 2023 | Jun 15, 2023 | Jun 15, 2023 | $0.0400 | 0.227% |
| 2 | May 31, 2022 | May 31, 2022 | May 31, 2022 | $0.0400 | 0.229% |
| 3 | Jun 11, 2021 | Jun 11, 2021 | Jun 11, 2021 | $0.0400 | 0.336% |
| 4 | Jun 22, 2020 | Jun 22, 2020 | Jun 22, 2020 | $0.0950 | 0.376% |
FAQ
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