The stock of China Ceramics Co Ltd (NASDAQ:CCCL) reached all time low today, Nov, 4 and still has $1.79 target or 11.00% below today’s $2.01 share price. This indicates more downside for the $5.30M company. This technical setup was reported by Barchart.com. If the $1.79 PT is reached, the company will be worth $583,000 less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 14,792 shares traded hands. China Ceramics Co Ltd (NASDAQ:CCCL) has declined 27.08% since April 4, 2016 and is downtrending. It has underperformed by 28.17% the S&P500.
According to Zacks Investment Research, “China Ceramics Co., Ltd., formerly China Holdings Acquisition Corp., is a manufacturer of ceramic tiles used for exterior siding and for interior flooring and design in residential and commercial buildings. China Ceramics produces different types of ceramics tiles, sold under the HD or Hengda brand. The Company’s products are available in over two thousand styles, colors and sizes combinations and are distributed through a network of exclusive distributors or directly to large property developers.”
More news for China Ceramics Co Ltd (NASDAQ:CCCL) were recently published by: Streetinsider.com, which released: “China Ceramics Co., Ltd. (CCCL) to Conduct One-for-Eight Reverse Stock Split” on June 27, 2016. Prnewswire.com‘s article titled: “China Ceramics Announces Settlement of Class Action Litigation” and published on June 29, 2016 is yet another important article.
CCCL Company Profile
China Ceramics Co., Ltd., incorporated on September 20, 2009, is a maker of ceramic tiles used for exterior siding and for interior flooring, and design in residential and commercial buildings. The Company’s ceramic tiles, sold under the HD or Hengda, HDL or Hengdeli, Pottery Capital of Tang Dynasty, TOERTO and WULIQIAO brands, are available in over 2,000 styles, colors and size combinations. The Firm operates in the segment of manufacturing and sale of medium to high-end ceramic tiles. The Company’s geographical segment is People’s Republic of China (PRC). The Firm has five principal product categories: porcelain tiles, glazed tiles, glazed porcelain tiles, rustic tiles and polished glazed tiles. The Company’s ceramic tiles are used for flooring, interior walls for decorative purposes and on exterior siding. The Company’s manufacturing facilities operated by Jinjiang Hengda Ceramics Co., Ltd. are located in Jinjiang, Fujian Province, and its manufacturing facilities operated by Jiangxi Hengdali Ceramic Materials Co., Ltd. are located in Gaoan, Jiangxi Province. Combined, these facilities provide an aggregate annual production capacity of approximately 70 million square meters.
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