Tianjin Binhai Energy & Development Stock Forecast
Tianjin Binhai Energy & Development stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Jun 26, 2024)
The Tianjin Binhai Energy & Development stock price gained 1.90% on the last trading day (Wednesday, 26th Jun 2024), rising from ¥7.89 to ¥8.04. During the last trading day the stock fluctuated 3.59% from a day low at ¥7.81 to a day high of ¥8.09. The price has been going up and down for this period, and there has been a 2.42% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 592 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately ¥11.68 million.
The stock lies in the middle of a 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 -7.11% during the next 3 months and, with a 90% probability hold a price between ¥7.07 and ¥8.58 at the end of this 3-month period.
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000695.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 3.61%. 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 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 Tianjin Binhai Energy & Development 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 ¥8.38. On a fall, the stock will find some support from the short-term average at ¥7.93. 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 Tianjin Binhai Energy & Development stock
Tianjin Binhai Energy & Development finds support from accumulated volume at ¥8.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ¥0.280 (3.59%) between high and low. For the last week, the stock has had daily average volatility of 3.63%.
Our recommended stop-loss: ¥7.63 (-5.15%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (000695.SZ) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Tianjin Binhai Energy & Development Co.,Ltd to open at ¥7.98, and during the day (based on 14 day Average True Range), to move between ¥7.68 and ¥8.40, which gives a possible trading interval of +/-¥0.358 (+/-4.46%) up or down from last closing price. If Tianjin Binhai Energy & Development Co.,Ltd takes out the full calculated possible swing range there will be an estimated 8.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥8.00 (0.50%) than the resistance at ¥8.95 (11.32%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Tianjin Binhai Energy & Development Co.,Ltd stock A Buy?
Tianjin Binhai Energy & Development 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: -0.190 Hold/Accumulate Upgraded
Predicted Opening Price for Tianjin Binhai Energy & Development Co.,Ltd of Thursday, June 27, 2024
Fair opening price June 27, 2024 | Current price |
---|---|
¥7.98 ( 0.746%) | ¥8.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000695.SZ
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 8.26 | 2.74% |
R2 | 8.15 | 1.41% |
R1 | 8.09 | 0.584% |
Price | 8.04 | |
S1 | 7.87 | -2.08% |
S2 | 7.81 | -2.90% |
S3 | 7.70 | -4.23% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 9.63 | 19.78% |
R2 | 9.29 | 15.55% |
R1 | 8.95 | 11.32% |
Price | 8.04 | |
S1 | 8.00 | -0.498% |
S2 | 7.88 | -1.99% |
S3 | 7.80 | -2.99% |
000695 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jul 28, 2009 | Jul 28, 2009 | Jul 28, 2009 | ¥0.0200 | 0.268% |
2 | Jul 09, 2008 | Jul 09, 2008 | Jul 09, 2008 | ¥0.0230 | 0.234% |
3 | Jul 24, 2007 | Jul 24, 2007 | Jul 24, 2007 | ¥0.0780 | 0.796% |
4 | Jun 09, 2006 | Jun 09, 2006 | Jun 09, 2006 | ¥0.0580 | 0.96% |
5 | Jul 17, 1998 | Jul 17, 1998 | Jul 17, 1998 | ¥0.0929 | 1.23% |
FAQ
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