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China Automotive Systems Stock Forecast NASDAQ:CAAS

$3.46 (-1.14%)

Volume: 47k

Closed: Nov 26, 2021

Hollow Logo Score: -2.991

China Automotive Systems Stock Forecast

$3.46 (-1.14%)

Volume: 47k

Closed: Nov 26, 2021

Score Hollow Logo -2.991
Which way will CAAS go? Request
Key Stats
P/E Ratio 38.07
Beta 1.09
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 41 and the stock is currently not being overbought or oversold

Red day on Friday for China Automotive Systems
(Updated on Nov 26, 2021)

Sell candidate since 2021-11-23 Gain 0.29%

The China Automotive Systems stock price fell by -1.14% on the last day (Friday, 26th Nov 2021) from $3.50 to $3.46. During the day the stock fluctuated 4.73% from a day low at $3.38 to a day high of $3.54. The price has fallen in 9 of the last 10 days and is down by -17.81% for this period. Volume has increased on the last day by 16 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, 47 thousand shares were bought and sold for approximately $163.31 thousand.

The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $3.31 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 9.41% during the next 3 months and, with a 90% probability hold a price between $3.62 and $4.67 at the end of this 3-month period.

Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, November 23, 2021, and so far it has risen 0.29%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The China Automotive Systems stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $3.68 and $3.59. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). China Automotive Systems gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss

China Automotive Systems finds support from accumulated volume at $3.45 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 $0.16 between high and low, or 4.73%. For the last week, the stock has had a daily average volatility of 5.61%.

Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.

Is China Automotive Systems stock A Buy?

The China Automotive Systems stock holds several negative signals and despite the positive trend, we believe China Automotive Systems will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.991

Predicted Opening Price for China Automotive Systems of Monday, November 29, 2021

The predicted opening price is based on yesterday's movements between high, low, and the closing price.

Fair opening price November 29, 2021 Current price
$3.46 $3.46 (Overvalued)
Sell Candidate Unchanged

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Analyst Ratings

On Nov 15, 2021 "Greenridge Global" gave "$6.00 - $7.00" rating for CAAS. The price target was changed from $3.99 to 5.2%.

Volatility and Risk
Daily Average Volatility: 5.61 %
Overall Risk: Very High High Medium Low Very Low
5.61 %
Daily Average Volatility
Overall Risk

Very High
Very Low

Support & Resistance

Resistance: $3.76
Price: $3.46
Support: $3.45

CAAS Insider Trading Show all Trades



Last 100 transactions
Buy: 84 327 | Sell: 196 400 (Shares)
Date Action Amount Person Type
Dec 03, 2020 Sell 10 000 Li Jie Common Stock
Dec 03, 2020 Sell 30 000 Li Jie Common Stock
Dec 03, 2020 Sell 10 000 Li Jie Common Stock
Sep 10, 2019 Buy 33 Li Jie Common Stock
Sep 09, 2019 Buy 2 000 Li Jie Common Stock
Show all Insider Trades


Last 100 transactions
Buy: 84 327 | Sell: 196 400 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 3.62 4.62 %
3.56 2.86 %
3.52 1.77 %
Current price: 3.46
Support 3.40 -1.77 %
3.36 -2.86 %
3.30 -4.62 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 4.21 21.68 %
3.99 15.32 %
3.76 8.67 %
Current price 3.46
Support 3.45 -0.29%
3.37 -2.60%
3.08 -10.98%

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About China Automotive Systems

China Automotive Systems, Inc., through its subsidiaries, manufactures and sells automotive systems and components in the People’s Republic of China. The company produces rack and pinion power steering gears for cars and light duty vehicles; integral power steering gears for heavy-duty vehicles; power steering parts for light duty vehicles; sensor modules; automobile steering systems and columns; and electric power steering gears. It is also inv... Read more

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