Anhui Wenergy Company Limited Stock Forecast
Stronger technical forecast for Anhui Wenergy Company Limited stock price after Friday trading.
(Updated on Jun 21, 2024)
The Anhui Wenergy Company Limited stock price fell by -1.29% on the last day (Friday, 21st Jun 2024) from ¥8.55 to ¥8.44. During the last trading day the stock fluctuated 3.72% from a day low at ¥8.33 to a day high of ¥8.64. The price has fallen in 6 of the last 10 days but is still up by 0.6% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -93 thousand shares and in total, 20 million shares were bought and sold for approximately ¥168.72 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Anhui Wenergy Company Limited stock with a 90% probability to be traded between ¥8.01 and ¥9.10 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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000543.SZ Signals & Forecast
The Anhui Wenergy Company Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ¥8.59. On a fall, the stock will find some support from the long-term average at approximately ¥8.41. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Friday, June 07, 2024, and so far it has fallen -3.98%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Anhui Wenergy Company Limited stock
Anhui Wenergy Company Limited finds support from accumulated volume at ¥8.35 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 ¥0.310 between high and low, or 3.72%. For the last week, the stock has had daily average volatility of 3.45%.
Our recommended stop-loss: ¥8.11 (-3.86%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (000543.SZ) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Anhui Wenergy Company Limited to open at ¥8.47, and during the day (based on 14 day Average True Range), to move between ¥8.05 and ¥8.83, which gives a possible trading interval of +/-¥0.387 (+/-4.58%) up or down from last closing price. If Anhui Wenergy Company Limited takes out the full calculated possible swing range there will be an estimated 9.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥8.35 (1.07%) than the resistance at ¥8.71 (3.20%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Anhui Wenergy Company Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Anhui Wenergy Company Limited stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.677 Buy Candidate Upgraded
Predicted Opening Price for Anhui Wenergy Company Limited of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ¥8.47 ( 0.355%) | ¥8.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000543.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.78 | 4.03% |
| R2 | 8.66 | 2.63% |
| R1 | 8.59 | 1.76% |
| Price | 8.44 | |
| S1 | 8.35 | -1.05% |
| S2 | 8.28 | -1.91% |
| S3 | 8.16 | -3.32% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.97 | 6.28% |
| R2 | 8.78 | 4.03% |
| R1 | 8.71 | 3.20% |
| Price | 8.44 | |
| S1 | 8.35 | -1.07% |
| S2 | 8.13 | -3.67% |
| S3 | 7.97 | -5.57% |
000543 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2024 | May 30, 2024 | May 30, 2024 | ¥0.221 | 2.77% |
| 2 | Jun 20, 2023 | Jun 20, 2023 | Jun 20, 2023 | ¥0.0480 | 0.792% |
| 3 | May 28, 2021 | May 28, 2021 | May 28, 2021 | ¥0.0760 | 1.95% |
| 4 | Jul 07, 2020 | Jul 07, 2020 | Jul 07, 2020 | ¥0.119 | 2.77% |
| 5 | May 31, 2019 | May 31, 2019 | May 31, 2019 | ¥0.0440 | 0.95% |
FAQ
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