Chow Tai Seng Jewellery Co Ltd Stock Forecast
Chow Tai Seng Jewellery Co Ltd stock price down 0.88% on Thursday
(Updated on May 16, 2024)
The Chow Tai Seng Jewellery Co Ltd stock price fell by -0.88% on the last day (Thursday, 16th May 2024) from ¥16.98 to ¥16.83. During the last trading day the stock fluctuated 6.13% from a day low at ¥16.14 to a day high of ¥17.13. The price has been going up and down for this period, and there has been a 3.31% gain for the last 2 weeks. 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 -4 million shares and in total, 8 million shares were bought and sold for approximately ¥134.78 million.
The stock lies in the middle of a 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 -10.91% during the next 3 months and, with a 90% probability hold a price between ¥13.92 and ¥16.45 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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002867.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 08, 2024, and so far it has risen 6.18%. Further rise is indicated until a new top pivot has been found. 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. The Chow Tai Seng Jewellery Co Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ¥17.65. On a fall, the stock will find some support from the short-term average at ¥16.58. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 Chow Tai Seng Jewellery Co Ltd stock
Chow Tai Seng Jewellery Co Ltd finds support from accumulated volume at ¥16.31 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 ¥0.99 between high and low, or 6.13%. For the last week, the stock has had daily average volatility of 5.86%.
Our recommended stop-loss: ¥16.10 (-4.35%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (002867.SZ) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Chow Tai Seng Jewellery Co Ltd to open at ¥16.70, and during the day (based on 14 day Average True Range), to move between ¥15.99 and ¥17.67, which gives a possible trading interval of +/-¥0.84 (+/-4.98%) up or down from last closing price. If Chow Tai Seng Jewellery Co Ltd takes out the full calculated possible swing range there will be an estimated 9.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥16.97 (0.83%) than the support at ¥16.31 (3.09%), 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 Chow Tai Seng Jewellery Co Ltd stock A Buy?
Chow Tai Seng Jewellery Co Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.868 Hold/Accumulate Unchanged
Predicted Opening Price for Chow Tai Seng Jewellery Co Ltd of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| ¥16.70 ( 0.772%) | ¥16.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002867.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.69 | 5.11 % | |
| R2 | 17.31 | 2.86 % | ||
| R1 | 17.08 | 1.47 % | ||
| Current price: | 16.83 | |||
| Support | S1 | 16.32 | -3.02 % | |
| S2 | 16.09 | -4.41 % | ||
| S3 | 15.71 | -6.65 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.40 | 9.33 % | |
| R2 | 17.84 | 6.00 % | ||
| R1 | 16.97 | 0.83 % | ||
| Current price | 16.83 | |||
| Support | S1 | 16.31 | -3.09% | |
| S2 | 16.29 | -3.21% | ||
| S3 | 16.19 | -3.80% |
002867 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 26, 2023 | Sep 26, 2023 | Sep 26, 2023 | ¥0.300 | 1.68% |
| 2 | Jun 05, 2023 | Jun 05, 2023 | Jun 05, 2023 | ¥0.600 | 3.69% |
| 3 | Jun 07, 2022 | Jun 07, 2022 | Jun 07, 2022 | ¥0.500 | 3.65% |
| 4 | Nov 25, 2021 | Nov 25, 2021 | Nov 25, 2021 | ¥0.300 | 1.65% |
| 5 | Jun 18, 2021 | Jun 18, 2021 | Jun 18, 2021 | ¥0.400 | 2.19% |
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