Concord Medical Services Holdings Ltd Stock Forecast
Big movements in Concord Medical Services Holdings Ltd stock price on Thursday moving 21.12% between high and low
(Updated on Apr 25, 2024)
The Concord Medical Services Holdings Ltd stock price fell by -11.61% on the last day (Thursday, 25th Apr 2024) from $0.570 to $0.504. During the last trading day the stock fluctuated 21.12% from a day low at $0.504 to a day high of $0.610. The price has fallen in 5 of the last 10 days and is down by -20.02% for this period. Volume has increased on the last day by 8 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 thousand shares were bought and sold for approximately $4.04 thousand.
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 -28.16% during the next 3 months and, with a 90% probability hold a price between $0.209 and $0.427 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CCM Signals & Forecast
There are few to no technical positive signals at the moment. The Concord Medical Services Holdings Ltd 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 $0.560 and $0.530. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -21.27%. 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). Concord Medical Services Holdings Ltd 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". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Concord Medical Services Holdings Ltd stock
Concord Medical Services Holdings Ltd finds support from accumulated volume at $0.479 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 $0.106 between high and low, or 21.12%. For the last week, the stock has had daily average volatility of 9.43%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CCM) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Concord Medical Services Holdings Limited to open at $0.539, and during the day (based on 14 day Average True Range), to move between $0.443 and $0.564, which gives a possible trading interval of +/-$0.0605 (+/-12.00%) up or down from last closing price. If Concord Medical Services Holdings Limited takes out the full calculated possible swing range there will be an estimated 24.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.508 (0.71%) than the support at $0.479 (4.92%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Concord Medical Services Holdings Limited stock A Buy?
Concord Medical Services Holdings 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 Hold/Accumulate to a Strong Sell candidate.
Current score: -6.145 Strong Sell Candidate Downgraded
Predicted Opening Price for Concord Medical Services Holdings Limited of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $0.539 ( 7.04%) | $0.504 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CCM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.646 | 28.15 % | |
| R2 | 0.605 | 20.09 % | ||
| R1 | 0.580 | 15.10 % | ||
| Current price: | 0.504 | |||
| Support | S1 | 0.499 | -1.03 % | |
| S2 | 0.474 | -6.01 % | ||
| S3 | 0.433 | -14.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.607 | 20.44 % | |
| R2 | 0.587 | 16.51 % | ||
| R1 | 0.508 | 0.714 % | ||
| Current price | 0.504 | |||
| Support | S1 | 0.479 | -4.92% | |
| S2 | 0.468 | -7.22% | ||
| S3 | 0.415 | -17.64% |
CCM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 11, 2015 | Dec 23, 2015 | Jan 29, 2016 | $0.99 | 20.97% |
| 2 | Jul 28, 2014 | Aug 05, 2014 | Sep 26, 2014 | $0.90 | 12.23% |
| 3 | Jan 07, 2014 | Jan 16, 2014 | Jan 30, 2014 | $0.720 | 13.21% |
| 4 | Aug 12, 2011 | Aug 29, 2011 | Sep 30, 2011 | $0.158 | 5.00% |
FAQ
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