Sichuan Meifeng Chemical Ind. Co., Ltd. Stock Forecast
Green day on Monday for Sichuan Meifeng Chemical Ind. Co., Ltd. stock after gaining 1.79%
(Updated on May 20, 2024)
The Sichuan Meifeng Chemical Ind. Co., Ltd. stock price gained 1.79% on the last trading day (Monday, 20th May 2024), rising from ¥7.26 to ¥7.39. It has now gained 3 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 2.64% from a day low at ¥7.21 to a day high of ¥7.40. The price has risen in 5 of the last 10 days and is up by 1.65% 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, 7 million more shares were traded than the day before. In total, 14 million shares were bought and sold for approximately ¥101.21 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 7.67% during the next 3 months and, with a 90% probability hold a price between ¥7.47 and ¥8.09 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 buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ¥7.24 and ¥7.06. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -0.538%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Sichuan Meifeng Chemical Ind. Co., Ltd. stock
Sichuan Meifeng Chemical Ind. Co., Ltd. finds support from accumulated volume at ¥7.27 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 ¥0.190 (2.64%) between high and low. For the last week, the stock has had daily average volatility of 2.20%.
Our recommended stop-loss: ¥7.12 (-3.69%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 21 days ago.)
Trading Expectations (000731.SZ) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Sichuan Meifeng Chemical Ind. Co., Ltd. to open at ¥7.33, and during the day (based on 14 day Average True Range), to move between ¥7.20 and ¥7.58, which gives a possible trading interval of +/-¥0.192 (+/-2.60%) 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 5.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥7.43 (0.54%) than the support at ¥7.27 (1.62%), 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
Sichuan Meifeng Chemical Ind. Co., Ltd. will release earnings BMO on Thursday, May 23, 2024. We will update the financials statements for Sichuan Meifeng Chemical Ind. Co., Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.02% in the first trading day after earnings release.
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: 4.241 Buy Candidate Unchanged
Predicted Opening Price for Sichuan Meifeng Chemical Ind. Co., Ltd. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ¥7.33 ( 0.767%) | ¥7.39 |
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 | 7.52 | 1.80 % | |
| R2 | 7.45 | 0.82 % | ||
| R1 | 7.41 | 0.215 % | ||
| Current price: | 7.39 | |||
| Support | S1 | 7.26 | -1.75 % | |
| S2 | 7.22 | -2.36 % | ||
| S3 | 7.14 | -3.34 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 7.43 | 0.541 % | ||
| Current price | 7.39 | |||
| Support | S1 | 7.27 | -1.62% | |
| S2 | 6.95 | -5.95% | ||
| S3 | 6.76 | -8.53% |
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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