Donglai Coating Technology (Shanghai) Stock Forecast
Donglai Coating Technology (Shanghai) stock downgraded to Sell Candidate
(Updated on Jun 28, 2024)
The Donglai Coating Technology (Shanghai) stock price gained 0.321% on the last trading day (Friday, 28th Jun 2024), rising from $12.45 to $12.49. During the last trading day the stock fluctuated 4.11% from a day low at $12.40 to a day high of $12.91. The price has risen in 6 of the last 10 days but is still down by -1.65% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 28 thousand more shares were traded than the day before. In total, 557 thousand shares were bought and sold for approximately $6.96 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 -4.21% during the next 3 months and, with a 90% probability hold a price between $10.42 and $14.20 at the end of this 3-month period.
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688129.SS Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Donglai Coating Technology (Shanghai) 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 $12.54 and $13.35. 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 20, 2024, and so far it has fallen -3.92%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Donglai Coating Technology (Shanghai) stock
Donglai Coating Technology (Shanghai) finds support from accumulated volume at $12.39 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 $0.510 between high and low, or 4.11%. For the last week, the stock has had daily average volatility of 4.71%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (688129.SS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Donglai Coating Technology (Shanghai) Co., Ltd. to open at $12.60, and during the day (based on 14 day Average True Range), to move between $11.96 and $13.02, which gives a possible trading interval of +/-$0.532 (+/-4.26%) up or down from last closing price. If Donglai Coating Technology (Shanghai) Co., Ltd. takes out the full calculated possible swing range there will be an estimated 8.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $12.39 (0.80%) than the resistance at $13.86 (10.97%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Donglai Coating Technology (Shanghai) Co., Ltd. stock A Buy?
Donglai Coating Technology (Shanghai) 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 Hold/Accumulate to a Sell candidate.
Current score: -3.195 Sell Candidate Downgraded
Predicted Opening Price for Donglai Coating Technology (Shanghai) Co., Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $12.60 ( 0.88%) | $12.49 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 688129.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.11 | 4.96% |
| R2 | 12.92 | 3.40% |
| R1 | 12.79 | 2.44% |
| Price | 12.49 | |
| S1 | 12.41 | -0.679% |
| S2 | 12.28 | -1.64% |
| S3 | 12.09 | -3.20% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.24 | 22.02% |
| R2 | 14.96 | 19.78% |
| R1 | 13.86 | 10.97% |
| Price | 12.49 | |
| S1 | 12.39 | -0.80% |
| S2 | 12.19 | -2.40% |
| S3 | 11.42 | -8.57% |
688129 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 05, 2022 | Jul 05, 2022 | Jul 05, 2022 | $0.240 | 1.70% |
| 2 | Jun 21, 2021 | Jun 21, 2021 | Jun 21, 2021 | $0.200 | 1.06% |
FAQ
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