Hefei Fengle Seed Co.,Ltd Stock Forecast
Hefei Fengle Seed Co.,Ltd stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on May 08, 2024)
The Hefei Fengle Seed Co.,Ltd stock price gained 3.25% on the last trading day (Wednesday, 8th May 2024), rising from ¥6.47 to ¥6.68. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 4.36% from a day low at ¥6.42 to a day high of ¥6.70. The price has risen in 6 of the last 10 days and is up by 6.71% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 11 million more shares were traded than the day before. In total, 18 million shares were bought and sold for approximately ¥120.22 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ¥6.72 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -12.43% during the next 3 months and, with a 90% probability hold a price between ¥5.00 and ¥5.89 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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000713.SZ Signals & Forecast
Mostly positive signals in the chart today. The Hefei Fengle Seed Co.,Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥6.37 and ¥6.66. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 12.46%. 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.
Support, Risk & Stop-loss for Hefei Fengle Seed Co.,Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥6.21 and ¥6.16. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Hefei Fengle Seed Co.,Ltd finds support just below today's level at ¥6.21. If this is broken, then the next support from accumulated volume will be at ¥6.16 and ¥5.94.
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 ¥0.280 between high and low, or 4.36%. For the last week, the stock has had daily average volatility of 3.46%.
Since the Hefei Fengle Seed Co.,Ltd has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: ¥6.41 (-4.04%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (000713.SZ) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Hefei Fengle Seed Co.,Ltd to open at ¥6.60, and during the day (based on 14 day Average True Range), to move between ¥6.43 and ¥6.93, which gives a possible trading interval of +/-¥0.246 (+/-3.69%) up or down from last closing price. If Hefei Fengle Seed Co.,Ltd takes out the full calculated possible swing range there will be an estimated 7.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥6.76 (1.20%) than the support at ¥6.21 (7.04%), 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.
Is Hefei Fengle Seed Co.,Ltd stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.767 Buy Candidate Upgraded
Predicted Opening Price for Hefei Fengle Seed Co.,Ltd of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| ¥6.60 ( 1.20%) | ¥6.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000713.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.88 | 2.99 % | |
| R2 | 6.77 | 1.39 % | ||
| R1 | 6.71 | 0.404 % | ||
| Current price: | 6.68 | |||
| Support | S1 | 6.49 | -2.80 % | |
| S2 | 6.43 | -3.79 % | ||
| S3 | 6.32 | -5.39 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.50 | 12.28 % | |
| R2 | 7.35 | 10.03 % | ||
| R1 | 6.76 | 1.20 % | ||
| Current price | 6.68 | |||
| Support | S1 | 6.21 | -7.04% | |
| S2 | 6.16 | -7.78% | ||
| S3 | 5.94 | -11.08% |
000713 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 13, 2023 | Jun 13, 2023 | Jun 13, 2023 | ¥0.0200 | 0.225% |
| 2 | Jun 28, 2022 | Jun 28, 2022 | Jun 28, 2022 | ¥0.0200 | 0.211% |
| 3 | Jun 29, 2021 | Jun 29, 2021 | Jun 29, 2021 | ¥0.0140 | 0.158% |
| 4 | Jun 16, 2020 | Jun 16, 2020 | Jun 16, 2020 | ¥0.0143 | 0.205% |
| 5 | May 21, 2019 | May 21, 2019 | May 21, 2019 | ¥0.0110 | 0.124% |
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