Changhong Huayi Compressor Co Ltd Stock Forecast
High volatility in Changhong Huayi Compressor Co Ltd stock price on Friday which ended trading at ¥6.77
(Updated on Apr 26, 2024)
The Changhong Huayi Compressor Co Ltd stock price gained 1.80% on the last trading day (Friday, 26th Apr 2024), rising from ¥6.65 to ¥6.77. During the last trading day the stock fluctuated 21.54% from a day low at ¥6.50 to a day high of ¥7.90. The price has fallen in 6 of the last 10 days and is down by -8.27% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 891 thousand more shares were traded than the day before. In total, 24 million shares were bought and sold for approximately ¥159.54 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥6.62 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 42.98% during the next 3 months and, with a 90% probability hold a price between ¥9.46 and ¥11.84 at the end of this 3-month period.
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000404.SZ Signals & Forecast
Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Changhong Huayi Compressor Co Ltd 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 ¥7.09 and ¥7.07. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 18, 2024, and so far it has fallen -15.59%. 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 Changhong Huayi Compressor Co Ltd stock
Changhong Huayi Compressor Co Ltd finds support from accumulated volume at ¥6.56 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 ¥1.40 between high and low, or 21.54%. For the last week, the stock has had daily average volatility of 20.06%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000404.SZ) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Changhong Huayi Compressor Co Ltd to open at ¥7.06, and during the day (based on 14 day Average True Range), to move between ¥6.07 and ¥7.47, which gives a possible trading interval of +/-¥0.700 (+/-10.34%) up or down from last closing price. If Changhong Huayi Compressor Co Ltd takes out the full calculated possible swing range there will be an estimated 20.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥6.56 (3.10%) than the resistance at ¥7.03 (3.84%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Changhong Huayi Compressor Co Ltd stock A Buy?
The Changhong Huayi Compressor Co Ltd stock holds several negative signals and despite the positive trend, we believe Changhong Huayi Compressor Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.130 Sell Candidate Unchanged
Predicted Opening Price for Changhong Huayi Compressor Co Ltd of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ¥7.06 ( 4.23%) | ¥6.77 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000404.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.46 | 24.91 % | |
| R2 | 7.92 | 17.01 % | ||
| R1 | 7.59 | 12.13 % | ||
| Current price: | 6.77 | |||
| Support | S1 | 6.52 | -3.67 % | |
| S2 | 6.19 | -8.55 % | ||
| S3 | 5.66 | -16.45 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.02 | 18.46 % | |
| R2 | 7.16 | 5.76 % | ||
| R1 | 7.03 | 3.84 % | ||
| Current price | 6.77 | |||
| Support | S1 | 6.56 | -3.10% | |
| S2 | 6.44 | -4.87% | ||
| S3 | 5.19 | -23.34% |
000404 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 16, 2023 | Jun 16, 2023 | Jun 16, 2023 | ¥0.200 | 3.01% |
| 2 | Jun 16, 2022 | Jun 16, 2022 | Jun 16, 2022 | ¥0.150 | 3.04% |
| 3 | Jun 18, 2021 | Jun 18, 2021 | Jun 18, 2021 | ¥0.100 | 2.55% |
| 4 | May 27, 2020 | May 27, 2020 | May 27, 2020 | ¥0.0200 | 0.576% |
| 5 | May 31, 2019 | May 31, 2019 | May 31, 2019 | ¥0.0200 | 0.462% |
FAQ
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