Shenyang Chemical Industry Co Ltd Stock Forecast
Big movements in Shenyang Chemical Industry Co Ltd stock price on Friday moving 14.94% between high and low
(Updated on Apr 19, 2024)
The Shenyang Chemical Industry Co Ltd stock price gained 2.72% on the last trading day (Friday, 19th Apr 2024), rising from ¥3.31 to ¥3.40. During the last trading day the stock fluctuated 14.94% from a day low at ¥3.28 to a day high of ¥3.77. The price has been going up and down for this period, and there has been a -11.46% loss 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, 4 million more shares were traded than the day before. In total, 16 million shares were bought and sold for approximately ¥52.89 million.
The stock lies in the middle of a very wide and weak 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 3.48% during the next 3 months and, with a 90% probability hold a price between ¥2.99 and ¥4.00 at the end of this 3-month period.
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000698.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 Shenyang Chemical Industry Co Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ¥3.50 and ¥3.57. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -11.69%. 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 Shenyang Chemical Industry Co Ltd stock
Shenyang Chemical Industry Co Ltd finds support from accumulated volume at ¥3.38 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 ¥0.490 between high and low, or 14.94%. For the last week, the stock has had daily average volatility of 15.31%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000698.SZ) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Shenyang Chemical Industry Co Ltd to open at ¥3.48, and during the day (based on 14 day Average True Range), to move between ¥3.13 and ¥3.67, which gives a possible trading interval of +/-¥0.268 (+/-7.88%) up or down from last closing price. If Shenyang Chemical Industry Co Ltd takes out the full calculated possible swing range there will be an estimated 15.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥3.38 (0.59%) than the resistance at ¥3.55 (4.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Shenyang Chemical Industry Co Ltd stock A Buy?
The Shenyang Chemical Industry Co Ltd stock holds several negative signals and despite the positive trend, we believe Shenyang Chemical Industry Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.380 Sell Candidate Unchanged
Predicted Opening Price for Shenyang Chemical Industry Co Ltd of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| ¥3.48 ( 2.45%) | ¥3.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000698.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.97 | 16.86 % | |
| R2 | 3.79 | 11.36 % | ||
| R1 | 3.67 | 7.96 % | ||
| Current price: | 3.40 | |||
| Support | S1 | 3.30 | -3.05 % | |
| S2 | 3.18 | -6.46 % | ||
| S3 | 2.99 | -11.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.85 | 13.24 % | |
| R2 | 3.72 | 9.41 % | ||
| R1 | 3.55 | 4.41 % | ||
| Current price | 3.40 | |||
| Support | S1 | 3.38 | -0.588% | |
| S2 | 2.97 | -12.65% | ||
| S3 | 2.79 | -17.94% |
000698 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 07, 2021 | Jun 07, 2021 | Jun 07, 2021 | ¥0.0900 | 1.27% |
| 2 | Jun 25, 2019 | Jun 25, 2019 | Jun 25, 2019 | ¥0.0650 | 1.59% |
| 3 | Jun 20, 2017 | Jun 20, 2017 | Jun 20, 2017 | ¥0.0650 | 1.02% |
| 4 | Jun 03, 2009 | Jun 03, 2009 | Jun 03, 2009 | ¥0.0462 | 0.634% |
| 5 | Aug 31, 2005 | Aug 31, 2005 | Aug 31, 2005 | ¥0.0285 | 1.55% |
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