Reported 11 months ago
Datong (2371) experienced six consecutive days of decline in the past, but resurged as a focus for buyers last Friday, influenced by discussions on non-nuclear homes and industry power shortage. The stock opened with a surge in buying interest, reaching a closing price of 56 yuan, up by 2.4 yuan, with a trading volume of over 38,000 shares, a ten-day high. Although the stock faced pressure from the previous highs around 60 yuan, it showed positive signs like reclaiming the 10-day moving average and a golden cross in daily KD. Datong continues to grow in its power and new energy businesses, expanding its transformer business in North America, foreseeing a turnaround this year and possible dividend distribution next year.
Source: YAHOO