Concord Medical Services Holdings Ltd Stock Forecast
Volatile ride for Concord Medical Services Holdings Ltd stock price on Tuesday moving between $0.89 and $1.06
(Updated on Jul 02, 2024)
The Concord Medical Services Holdings Ltd stock price gained 6.00% on the last trading day (Tuesday, 2nd Jul 2024), rising from $1.00 to $1.06. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 19.69% from a day low at $0.89 to a day high of $1.06. The price has risen in 5 of the last 10 days and is up by 82.76% over the past 2 weeks. Volume fell on the last day by -122 thousand shares and in total, 95 thousand shares were bought and sold for approximately $100.41 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 14.70% during the next 3 months and, with a 90% probability hold a price between $0.679 and $2.51 at the end of this 3-month period.
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CCM Signals & Forecast
The Concord Medical Services Holdings Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.94 and $0.739. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, June 04, 2024, and so far it has fallen -49.52%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Concord Medical Services Holdings Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.00 and $0.97. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Concord Medical Services Holdings Ltd finds support just below today's level at $1.00. If this is broken, then the next support from accumulated volume will be at $0.97 and $0.83.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.174 between high and low, or 19.69%. For the last week the stock has had daily average volatility of 20.67%.
Our recommended stop-loss: $1.00 (-5.26%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 30 days ago.)
Trading Expectations (CCM) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Concord Medical Services Holdings Limited to open at $1.00, and during the day (based on 14 day Average True Range), to move between $0.83 and $1.29, which gives a possible trading interval of +/-$0.229 (+/-21.60%) 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 43.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.00 (5.66%) than the resistance at $1.13 (6.60%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Concord Medical Services Holdings Limited stock A Buy?
Concord Medical Services Holdings Ltd holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.478 Strong Buy Candidate Upgraded
Predicted Opening Price for Concord Medical Services Holdings Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $1.00 ( 5.48%) | $1.06 |
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 | |
|---|---|---|
| R3 | 1.18 | 10.97% |
| R2 | 1.11 | 4.68% |
| R1 | 1.07 | 0.80% |
| Price | 1.06 | |
| S1 | 0.94 | -11.77% |
| S2 | 0.89 | -15.65% |
| S3 | 0.83 | -21.94% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 1.17 | 10.37% |
| R1 | 1.13 | 6.60% |
| Price | 1.06 | |
| S1 | 1.00 | -5.66% |
| S2 | 0.97 | -8.46% |
| S3 | 0.83 | -21.75% |
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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