CHINA SHENHUA ADR Stock Forecast
CHINA SHENHUA ADR stock price up 4.35% on Tuesday
(Updated on Jul 02, 2024)
The CHINA SHENHUA ADR stock price gained 4.35% on the last trading day (Tuesday, 2nd Jul 2024), rising from $18.38 to $19.18. During the last trading day the stock fluctuated 1.16% from a day low at $19.00 to a day high of $19.22. The price has risen in 6 of the last 10 days but is still down by -3.38% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 11 thousand more shares were traded than the day before. In total, 12 thousand shares were bought and sold for approximately $237.51 thousand.
The stock lies in the middle of a 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 28.51% during the next 3 months and, with a 90% probability hold a price between $23.58 and $27.20 at the end of this 3-month period.
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CSUAY Signals & Forecast
CHINA SHENHUA ADR has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The CHINA SHENHUA ADR 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 $19.38 and $19.34. 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 -6.71%. 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).
Support, Risk & Stop-loss for CHINA SHENHUA ADR stock
On the downside, the stock finds support just below today's level from accumulated volume at $16.56 and $16.55. 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, CHINA SHENHUA ADR finds support just below today's level at $16.56. If this is broken, then the next support from accumulated volume will be at $16.55 and $16.28.
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 $0.220 between high and low, or 1.16%. For the last week, the stock has had daily average volatility of 1.40%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CSUAY) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect CHINA SHENHUA ADR to open at $19.13, and during the day (based on 14 day Average True Range), to move between $18.66 and $19.70, which gives a possible trading interval of +/-$0.517 (+/-2.69%) up or down from last closing price. If CHINA SHENHUA ADR takes out the full calculated possible swing range there will be an estimated 5.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $19.23 (0.23%) than the support at $16.56 (13.66%), 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 CHINA SHENHUA ADR stock A Buy?
The CHINA SHENHUA ADR stock holds several negative signals and despite the positive trend, we believe CHINA SHENHUA ADR will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.280 Sell Candidate Unchanged
Predicted Opening Price for CHINA SHENHUA ADR of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $19.13 ( 0.243%) | $19.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CSUAY
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 19.35 | 0.90% |
| R2 | 19.27 | 0.466% |
| R1 | 19.22 | 0.195% |
| Price | 19.18 | |
| S1 | 19.05 | -0.681% |
| S2 | 19.00 | -0.95% |
| S3 | 18.91 | -1.39% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 19.33 | 0.782% |
| R2 | 19.25 | 0.365% |
| R1 | 19.23 | 0.235% |
| Price | 19.18 | |
| S1 | 16.56 | -13.66% |
| S2 | 16.55 | -13.71% |
| S3 | 16.28 | -15.12% |
CSUAY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2024 | Jun 28, 2024 | Sep 05, 2024 | $1.05 | 5.47% |
| 2 | Jun 22, 2023 | Jun 22, 2023 | Aug 31, 2023 | $1.46 | 12.57% |
| 3 | Jun 22, 2022 | Jun 29, 2022 | Sep 08, 2022 | $1.51 | 11.77% |
| 4 | Jun 30, 2021 | Jun 30, 2021 | Sep 08, 2021 | $1.13 | 12.38% |
| 5 | May 22, 2020 | Jun 03, 2020 | Aug 14, 2020 | $0.710 | 10.89% |
FAQ
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