XCMG Construction Machinery Co Ltd Stock Forecast
Volatile ride for XCMG Construction Machinery Co Ltd stock price on Monday moving between ¥6.88 and ¥7.58
(Updated on May 06, 2024)
The XCMG Construction Machinery Co Ltd stock price gained 6.40% on the last trading day (Monday, 6th May 2024), rising from ¥7.03 to ¥7.48. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 10.17% from a day low at ¥6.88 to a day high of ¥7.58. The price has fallen in 6 of the last 10 days and is down by -0.93% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 86 million more shares were traded than the day before. In total, 218 million shares were bought and sold for approximately ¥1.63 billion.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 20.51% during the next 3 months and, with a 90% probability hold a price between ¥7.83 and ¥9.39 at the end of this 3-month period.
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000425.SZ Signals & Forecast
The XCMG Construction Machinery Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ¥7.02 and ¥6.64. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, April 17, 2024, and so far it has fallen -0.93%. 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 XCMG Construction Machinery Co Ltd stock
XCMG Construction Machinery Co Ltd finds support from accumulated volume at ¥7.12 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 ¥0.700 between high and low, or 10.17%. For the last week, the stock has had daily average volatility of 6.78%.
Our recommended stop-loss: ¥7.18 (-4.07%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (000425.SZ) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect XCMG Construction Machinery Co Ltd to open at ¥7.31, and during the day (based on 14 day Average True Range), to move between ¥7.07 and ¥7.89, which gives a possible trading interval of +/-¥0.413 (+/-5.52%) up or down from last closing price. If XCMG Construction Machinery Co Ltd takes out the full calculated possible swing range there will be an estimated 11.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥7.55 (0.94%) than the support at ¥7.12 (4.81%), 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 XCMG Construction Machinery Co Ltd stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for XCMG Construction Machinery Co Ltd stock to perform well in the short-term.
Current score: 4.699 Buy Candidate Unchanged
Predicted Opening Price for XCMG Construction Machinery Co Ltd of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| ¥7.31 ( 2.23%) | ¥7.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000425.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.01 | 7.13 % | |
| R2 | 7.75 | 3.56 % | ||
| R1 | 7.58 | 1.35 % | ||
| Current price: | 7.48 | |||
| Support | S1 | 7.05 | -5.80 % | |
| S2 | 6.88 | -8.01 % | ||
| S3 | 6.61 | -11.59 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 7.55 | 0.94 % | ||
| Current price | 7.48 | |||
| Support | S1 | 7.12 | -4.81% | |
| S2 | 6.24 | -16.58% | ||
| S3 | 6.10 | -18.45% |
000425 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2023 | Jun 14, 2023 | Jun 14, 2023 | ¥0.150 | 2.25% |
| 2 | Sep 28, 2022 | Sep 28, 2022 | Sep 28, 2022 | ¥0.230 | 5.00% |
| 3 | Jul 14, 2021 | Jul 14, 2021 | Jul 14, 2021 | ¥0.100 | 1.62% |
| 4 | Jul 03, 2020 | Jul 03, 2020 | Jul 03, 2020 | ¥0.0600 | 0.96% |
| 5 | Jun 27, 2019 | Jun 27, 2019 | Jun 27, 2019 | ¥0.0600 | 1.34% |
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