Qinghai Salt Lake Potash Company Limited Stock Forecast
Strong day for Qinghai Salt Lake Potash Company Limited stock price on Friday rising 5.55% to ¥17.50
(Updated on Jun 21, 2024)
The Qinghai Salt Lake Potash Company Limited stock price gained 5.55% on the last trading day (Friday, 21st Jun 2024), rising from ¥16.58 to ¥17.50. During the last trading day the stock fluctuated 6.45% from a day low at ¥16.58 to a day high of ¥17.65. The price has been going up and down for this period, and there has been a 1.51% gain 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, 73 million more shares were traded than the day before. In total, 90 million shares were bought and sold for approximately ¥1.58 billion.
The stock lies in the middle of a 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 6.95% during the next 3 months and, with a 90% probability hold a price between ¥17.76 and ¥20.18 at the end of this 3-month period.
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000792.SZ Signals & Forecast
Mostly positive signals in the chart today. The Qinghai Salt Lake Potash Company Limited 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 ¥17.13 and ¥17.50. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 5.55%. 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 Qinghai Salt Lake Potash Company Limited stock
Qinghai Salt Lake Potash Company Limited finds support from accumulated volume at ¥17.41 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ¥1.07 between high and low, or 6.45%. For the last week the stock has had daily average volatility of 3.48%.
Our recommended stop-loss: ¥16.66 (-4.78%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (000792.SZ) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Qinghai Salt Lake Potash Company Limited to open at ¥17.24, and during the day (based on 14 day Average True Range), to move between ¥16.96 and ¥18.04, which gives a possible trading interval of +/-¥0.543 (+/-3.10%) up or down from last closing price. If Qinghai Salt Lake Potash Company Limited takes out the full calculated possible swing range there will be an estimated 6.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥17.59 (0.51%) than the support at ¥17.41 (0.51%), 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 Qinghai Salt Lake Potash Company Limited 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 Qinghai Salt Lake Potash Company Limited 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: 3.647 Buy Candidate Upgraded
Predicted Opening Price for Qinghai Salt Lake Potash Company Limited of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ¥17.24 ( 1.47%) | ¥17.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000792.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.31 | 4.65% |
| R2 | 17.90 | 2.31% |
| R1 | 17.65 | 0.87% |
| Price | 17.50 | |
| S1 | 16.83 | -3.80% |
| S2 | 16.58 | -5.25% |
| S3 | 16.17 | -7.58% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.21 | 4.06% |
| R2 | 18.09 | 3.37% |
| R1 | 17.59 | 0.514% |
| Price | 17.50 | |
| S1 | 17.41 | -0.514% |
| S2 | 17.26 | -1.37% |
| S3 | 17.00 | -2.86% |
000792 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 19, 2017 | Jun 19, 2017 | Jun 19, 2017 | ¥0.0068 | 0.0699% |
| 2 | Jul 15, 2016 | Jul 15, 2016 | Jul 15, 2016 | ¥0.0106 | 0.0731% |
| 3 | Jun 23, 2015 | Jun 23, 2015 | Jun 23, 2015 | ¥0.0294 | 0.139% |
| 4 | Jul 02, 2014 | Jul 02, 2014 | Jul 02, 2014 | ¥0.0229 | 0.227% |
| 5 | Jun 25, 2013 | Jun 25, 2013 | Jun 25, 2013 | ¥0.109 | 0.98% |
FAQ
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