Xiamen Xinde Co Ltd Stock Forecast
Green day on Monday for Xiamen Xinde Co Ltd stock after gaining 1.37%
(Updated on Apr 29, 2024)
The Xiamen Xinde Co Ltd stock price gained 1.37% on the last trading day (Monday, 29th Apr 2024), rising from ¥4.39 to ¥4.45. It has now gained 4 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 3.71% from a day low at ¥4.31 to a day high of ¥4.47. The price has risen in 6 of the last 10 days and is up by 4.22% over the past 2 weeks. Volume fell on the last day by -16 million shares and in total, 49 million shares were bought and sold for approximately ¥217.43 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 lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥4.08 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 22.35% during the next 3 months and, with a 90% probability hold a price between ¥4.99 and ¥9.04 at the end of this 3-month period.
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000701.SZ Signals & Forecast
There are mixed signals in the stock today. The Xiamen Xinde 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 ¥4.70. On a fall, the stock will find some support from the short-term average at ¥4.20. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 14.99%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Xiamen Xinde Co Ltd stock
Xiamen Xinde Co Ltd finds support from accumulated volume at ¥4.27 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ¥0.160 between high and low, or 3.71%. For the last week, the stock has had daily average volatility of 5.30%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000701.SZ) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect Xiamen Xinde Co Ltd to open at ¥4.41, and during the day (based on 14 day Average True Range), to move between ¥3.86 and ¥5.04, which gives a possible trading interval of +/-¥0.587 (+/-13.20%) up or down from last closing price. If Xiamen Xinde Co Ltd takes out the full calculated possible swing range there will be an estimated 26.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥4.62 (3.82%) than the support at ¥4.27 (4.04%), 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.
Earnings coming up
Xiamen Xinde Co Ltd will release earnings BMO on Tuesday, April 30, 2024. We will update the financials statements for Xiamen Xinde Co Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.00% in the first trading day after earnings release.
Is Xiamen Xinde Co Ltd stock A Buy?
Xiamen Xinde Co Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.319 Sell Candidate Unchanged
Predicted Opening Price for Xiamen Xinde Co Ltd of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| ¥4.41 ( 0.90%) | ¥4.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000701.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.57 | 2.70 % | |
| R2 | 4.51 | 1.32 % | ||
| R1 | 4.47 | 0.475 % | ||
| Current price: | 4.45 | |||
| Support | S1 | 4.35 | -2.27 % | |
| S2 | 4.31 | -3.12 % | ||
| S3 | 4.25 | -4.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.25 | 17.98 % | |
| R2 | 4.73 | 6.29 % | ||
| R1 | 4.62 | 3.82 % | ||
| Current price | 4.45 | |||
| Support | S1 | 4.27 | -4.04% | |
| S2 | 4.07 | -8.54% | ||
| S3 | 3.87 | -13.03% |
000701 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 05, 2019 | Jul 05, 2019 | Jul 05, 2019 | ¥0.0130 | 0.208% |
| 2 | Jun 29, 2018 | Jun 29, 2018 | Jun 29, 2018 | ¥0.0310 | 0.447% |
| 3 | Jul 07, 2017 | Jul 07, 2017 | Jul 07, 2017 | ¥0.0620 | 0.466% |
| 4 | Jun 24, 2016 | Jun 24, 2016 | Jun 24, 2016 | ¥0.0550 | 0.330% |
| 5 | Jun 26, 2015 | Jun 26, 2015 | Jun 26, 2015 | ¥0.100 | 0.395% |
FAQ
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