Sichuan New Energy Power Co Ltd Stock Forecast
Sichuan New Energy Power Co Ltd stock upgraded to Hold/Accumulate.
(Updated on Apr 26, 2024)
The Sichuan New Energy Power Co Ltd stock price gained 1.87% on the last trading day (Friday, 26th Apr 2024), rising from ¥10.18 to ¥10.37. During the last trading day the stock fluctuated 3.47% from a day low at ¥10.10 to a day high of ¥10.45. The price has fallen in 7 of the last 10 days and is down by -4.69% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 690 thousand more shares were traded than the day before. In total, 12 million shares were bought and sold for approximately ¥125.38 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Sichuan New Energy Power Co Ltd stock with a 90% probability to be traded between ¥8.93 and ¥11.74 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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000155.SZ Signals & Forecast
There are mixed signals in the stock today. The Sichuan New Energy Power 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 ¥10.84. On a fall, the stock will find some support from the short-term average at ¥10.19. 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. A sell signal was issued from a pivot top point on Monday, March 18, 2024, and so far it has fallen -9.75%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Sichuan New Energy Power Co Ltd stock
Sichuan New Energy Power Co Ltd finds support from accumulated volume at ¥10.19 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 ¥0.350 between high and low, or 3.47%. For the last week, the stock has had daily average volatility of 5.22%.
Our recommended stop-loss: ¥9.79 (-5.56%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 27 days ago.)
Trading Expectations (000155.SZ) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Sichuan New Energy Power Co Ltd to open at ¥10.31, and during the day (based on 14 day Average True Range), to move between ¥9.81 and ¥10.93, which gives a possible trading interval of +/-¥0.560 (+/-5.40%) up or down from last closing price. If Sichuan New Energy Power Co Ltd takes out the full calculated possible swing range there will be an estimated 10.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥10.19 (1.74%) than the resistance at ¥10.85 (4.63%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sichuan New Energy Power Co Ltd stock A Buy?
Sichuan New Energy Power 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.971 Hold/Accumulate Upgraded
Predicted Opening Price for Sichuan New Energy Power Co Ltd of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
¥10.31 ( 0.611%) | ¥10.37 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000155.SZ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.66 | 2.76 % | |
R2 | 10.52 | 1.48 % | ||
R1 | 10.44 | 0.679 % | ||
Current price: | 10.37 | |||
Support | S1 | 10.17 | -1.90 % | |
S2 | 10.09 | -2.70 % | ||
S3 | 9.96 | -3.99 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 11.24 | 8.39 % | |
R2 | 11.07 | 6.75 % | ||
R1 | 10.85 | 4.63 % | ||
Current price | 10.37 | |||
Support | S1 | 10.19 | -1.74% | |
S2 | 10.00 | -3.57% | ||
S3 | 8.64 | -16.68% |
000155 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 25, 2010 | May 25, 2010 | May 25, 2010 | ¥0.0500 | 0.775% |
2 | Apr 22, 2009 | Apr 22, 2009 | Apr 22, 2009 | ¥0.120 | 1.48% |
3 | May 28, 2008 | May 28, 2008 | May 28, 2008 | ¥0.130 | 0.81% |
4 | Jul 05, 2007 | Jul 05, 2007 | Jul 05, 2007 | ¥0.250 | 3.45% |
5 | Mar 06, 2006 | Mar 06, 2006 | Mar 06, 2006 | ¥0.152 | 3.62% |
FAQ
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