Sichuan Meifeng Chemical Ind. Co., Ltd. Stock Forecast
Red day on Friday for Sichuan Meifeng Chemical Ind. Co., Ltd. stock after losing 0.549%
(Updated on May 10, 2024)
The Sichuan Meifeng Chemical Ind. Co., Ltd. stock price fell by -0.549% on the last day (Friday, 10th May 2024) from ¥7.29 to ¥7.25. During the last trading day the stock fluctuated 1.52% from a day low at ¥7.23 to a day high of ¥7.34. The price has risen in 6 of the last 10 days and is up by 5.38% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -3 million shares and in total, 7 million shares were bought and sold for approximately ¥48.22 million.
The stock lies in the middle of a 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 7.15% during the next 3 months and, with a 90% probability hold a price between ¥7.37 and ¥7.99 at the end of this 3-month period.
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000731.SZ Signals & Forecast
The Sichuan Meifeng Chemical Ind. Co., Ltd. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ¥7.25. On a fall, the stock will find some support from the long-term average at approximately ¥6.99. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -2.42%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Sichuan Meifeng Chemical Ind. Co., Ltd. stock
Sichuan Meifeng Chemical Ind. Co., Ltd. finds support from accumulated volume at ¥7.09 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 ¥0.110 (1.52%) between high and low. For the last week, the stock has had daily average volatility of 3.64%.
Our recommended stop-loss: ¥6.92 (-4.58%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (000731.SZ) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Sichuan Meifeng Chemical Ind. Co., Ltd. to open at ¥7.27, and during the day (based on 14 day Average True Range), to move between ¥7.04 and ¥7.46, which gives a possible trading interval of +/-¥0.209 (+/-2.89%) up or down from last closing price. If Sichuan Meifeng Chemical Ind. Co., Ltd. takes out the full calculated possible swing range there will be an estimated 5.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥7.27 (0.28%) than the support at ¥7.09 (2.21%), 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 Sichuan Meifeng Chemical Ind. Co., Ltd. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Sichuan Meifeng Chemical Ind. Co., Ltd. stock to perform well in the short-term.
Current score: 3.291 Buy Candidate Unchanged
Predicted Opening Price for Sichuan Meifeng Chemical Ind. Co., Ltd. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ¥7.27 ( 0.322%) | ¥7.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000731.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.38 | 1.84 % | |
| R2 | 7.34 | 1.26 % | ||
| R1 | 7.32 | 0.90 % | ||
| Current price: | 7.25 | |||
| Support | S1 | 7.23 | -0.258 % | |
| S2 | 7.21 | -0.616 % | ||
| S3 | 7.16 | -1.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.43 | 2.48 % | |
| R2 | 7.29 | 0.552 % | ||
| R1 | 7.27 | 0.276 % | ||
| Current price | 7.25 | |||
| Support | S1 | 7.09 | -2.21% | |
| S2 | 6.95 | -4.14% | ||
| S3 | 6.76 | -6.76% |
000731 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 14, 2023 | Jul 14, 2023 | Jul 14, 2023 | ¥0.172 | 2.11% |
| 2 | Jun 24, 2022 | Jun 24, 2022 | Jun 24, 2022 | ¥0.170 | 1.87% |
| 3 | Jun 19, 2020 | Jun 19, 2020 | Jun 19, 2020 | ¥0.0500 | 0.98% |
| 4 | Jun 19, 2019 | Jun 19, 2019 | Jun 19, 2019 | ¥0.150 | 2.58% |
| 5 | May 22, 2018 | May 22, 2018 | May 22, 2018 | ¥0.0800 | 1.09% |
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