Haima Automobile Group Co Ltd Stock Forecast
Haima Automobile Group Co Ltd stock upgraded to Hold/Accumulate.
(Updated on May 14, 2024)
The Haima Automobile Group Co Ltd stock price gained 0.265% on the last trading day (Tuesday, 14th May 2024), rising from ¥3.78 to ¥3.79. During the last trading day the stock fluctuated 4.84% from a day low at ¥3.72 to a day high of ¥3.90. The price has risen in 6 of the last 10 days and is up by 3.55% over the past 2 weeks. Volume fell on the last day by -20 million shares and in total, 36 million shares were bought and sold for approximately ¥136.17 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.58% during the next 3 months and, with a 90% probability hold a price between ¥3.01 and ¥4.13 at the end of this 3-month period.
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000572.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 16.26%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Haima Automobile Group 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 ¥3.90. On a fall, the stock will find some support from the short-term average at ¥3.76. 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.
Support, Risk & Stop-loss for Haima Automobile Group Co Ltd stock
Haima Automobile Group Co Ltd finds support from accumulated volume at ¥3.78 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 ¥0.180 between high and low, or 4.84%. For the last week, the stock has had daily average volatility of 6.46%.
Our recommended stop-loss: ¥3.63 (-4.14%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (000572.SZ) For The Upcoming Trading Day Of Wednesday 15th
For the upcoming trading day on Wednesday, 15th we expect Haima Automobile Group Co Ltd to open at ¥3.80, and during the day (based on 14 day Average True Range), to move between ¥3.51 and ¥4.07, which gives a possible trading interval of +/-¥0.278 (+/-7.33%) up or down from last closing price. If Haima Automobile Group Co Ltd takes out the full calculated possible swing range there will be an estimated 14.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥3.80 (0.26%) than the support at ¥3.78 (0.26%), 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 Haima Automobile Group Co Ltd stock A Buy?
Haima Automobile Group 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: 0.969 Hold/Accumulate Upgraded
Predicted Opening Price for Haima Automobile Group Co Ltd of Wednesday, May 15, 2024
| Fair opening price May 15, 2024 | Current price |
|---|---|
| ¥3.80 ( 0.352%) | ¥3.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000572.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.98 | 5.10 % | |
| R2 | 3.91 | 3.29 % | ||
| R1 | 3.87 | 2.17 % | ||
| Current price: | 3.79 | |||
| Support | S1 | 3.73 | -1.46 % | |
| S2 | 3.69 | -2.58 % | ||
| S3 | 3.62 | -4.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.29 | 13.19 % | |
| R2 | 4.15 | 9.50 % | ||
| R1 | 3.80 | 0.264 % | ||
| Current price | 3.79 | |||
| Support | S1 | 3.78 | -0.264% | |
| S2 | 3.70 | -2.37% | ||
| S3 | 3.34 | -11.87% |
000572 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 27, 2016 | Jun 27, 2016 | Jun 27, 2016 | ¥0.0500 | 0.97% |
| 2 | Jun 13, 2008 | Jun 13, 2008 | Jun 13, 2008 | ¥0.0500 | 0.796% |
| 3 | Apr 26, 2007 | Apr 26, 2007 | Apr 26, 2007 | ¥0.0313 | 0.274% |
| 4 | Aug 23, 1994 | Aug 23, 1994 | Aug 23, 1994 | ¥0.0086 | 0.371% |
FAQ
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