Yangzijiang Shipbuilding Stock Forecast
Stronger technical forecast for Yangzijiang Shipbuilding stock price after Tuesday trading.
(Updated on May 07, 2024)
The Yangzijiang Shipbuilding stock price fell by -0.585% on the last day (Tuesday, 7th May 2024) from S$1.71 to S$1.70. During the last trading day the stock fluctuated 1.78% from a day low at S$1.69 to a day high of S$1.72. The price has fallen in 7 of the last 10 days and is down by -2.86% 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 -3 million shares and in total, 13 million shares were bought and sold for approximately S$21.68 million.
Given the current short-term trend, the stock is expected to rise 5.42% during the next 3 months and, with a 90% probability hold a price between S$1.79 and S$2.06 at the end of this 3-month period.
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BS6.SI Signals & Forecast
There are few to no technical positive signals at the moment. The Yangzijiang Shipbuilding 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 S$1.72 and S$1.80. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -10.99%. 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 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 Yangzijiang Shipbuilding stock
Yangzijiang Shipbuilding finds support from accumulated volume at S$1.69 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 S$0.0300 between high and low, or 1.78%. For the last week, the stock has had daily average volatility of 2.23%.
Our recommended stop-loss: S$1.61 (-5.44%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 25 days ago.)
Trading Expectations (BS6.SI) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Yangzijiang Shipbuilding to open at S$1.70, and during the day (based on 14 day Average True Range), to move between S$1.65 and S$1.75, which gives a possible trading interval of +/-S$0.0477 (+/-2.81%) up or down from last closing price. If Yangzijiang Shipbuilding takes out the full calculated possible swing range there will be an estimated 5.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at S$1.69 (0.59%) than the resistance at S$1.74 (2.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Yangzijiang Shipbuilding stock A Buy?
Yangzijiang Shipbuilding 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.845 Hold/Accumulate Upgraded
Predicted Opening Price for Yangzijiang Shipbuilding of Wednesday, May 8, 2024
Fair opening price May 8, 2024 | Current price |
---|---|
S$1.70 ( 0.196%) | S$1.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BS6.SI
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.73 | 1.96 % | |
R2 | 1.72 | 1.29 % | ||
R1 | 1.71 | 0.87 % | ||
Current price: | 1.70 | |||
Support | S1 | 1.69 | -0.478 % | |
S2 | 1.68 | -0.89 % | ||
S3 | 1.67 | -1.57 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.78 | 4.71 % | |
R2 | 1.75 | 2.94 % | ||
R1 | 1.74 | 2.35 % | ||
Current price | 1.70 | |||
Support | S1 | 1.69 | -0.588% | |
S2 | 1.67 | -1.76% | ||
S3 | 1.64 | -3.53% |
BS6 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 25, 2024 | Apr 25, 2024 | May 06, 2024 | S$0.0650 | 3.80% |
2 | May 10, 2023 | May 10, 2023 | May 10, 2023 | S$0.0500 | 4.10% |
3 | May 12, 2022 | May 12, 2022 | May 12, 2022 | S$0.0500 | 6.17% |
4 | May 11, 2021 | May 11, 2021 | May 11, 2021 | S$0.0450 | 5.51% |
5 | May 13, 2020 | May 13, 2020 | May 13, 2020 | S$0.0450 | 8.41% |
FAQ
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