Luxi Chemical Group Co Ltd Stock Forecast
Luxi Chemical Group Co Ltd stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Apr 17, 2024)
The Luxi Chemical Group Co Ltd stock price gained 0.390% on the last trading day (Wednesday, 17th Apr 2024), rising from ¥10.25 to ¥10.29. During the last trading day the stock fluctuated 2.46% from a day low at ¥10.15 to a day high of ¥10.40. The price has risen in 7 of the last 10 days and is up by 4.15% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 22 million shares were bought and sold for approximately ¥225.61 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 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 7.32% during the next 3 months and, with a 90% probability hold a price between ¥10.24 and ¥11.31 at the end of this 3-month period.
000830.SZ Signals & Forecast
The Luxi Chemical Group 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 ¥10.33. On a fall, the stock will find some support from the long-term average at approximately ¥9.95. 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). 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. 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 Monday, April 15, 2024, and so far it has fallen -2.09%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Luxi Chemical Group Co Ltd stock
Luxi Chemical Group Co Ltd finds support from accumulated volume at ¥10.05 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ¥0.250 between high and low, or 2.46%. For the last week, the stock has had daily average volatility of 3.83%.
Our recommended stop-loss: ¥9.88 (-3.95%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (000830.SZ) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Luxi Chemical Group Co Ltd to open at ¥10.28, and during the day (based on 14 day Average True Range), to move between ¥9.93 and ¥10.65, which gives a possible trading interval of +/-¥0.364 (+/-3.54%) up or down from last closing price. If Luxi Chemical Group Co Ltd takes out the full calculated possible swing range there will be an estimated 7.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥10.32 (0.29%) than the support at ¥10.05 (2.33%), 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 Luxi Chemical Group Co Ltd stock A Buy?
Luxi Chemical Group Co Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.348 Hold/Accumulate Upgraded
Predicted Opening Price for Luxi Chemical Group Co Ltd of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| ¥10.28 ( 0.0972%) | ¥10.29 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000830.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.53 | 2.33 % | |
| R2 | 10.43 | 1.40 % | ||
| R1 | 10.38 | 0.83 % | ||
| Current price: | 10.29 | |||
| Support | S1 | 10.18 | -1.03 % | |
| S2 | 10.13 | -1.60 % | ||
| S3 | 10.03 | -2.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.51 | 2.14 % | |
| R2 | 10.36 | 0.680 % | ||
| R1 | 10.32 | 0.292 % | ||
| Current price | 10.29 | |||
| Support | S1 | 10.05 | -2.33% | |
| S2 | 10.01 | -2.72% | ||
| S3 | 9.88 | -3.98% |
000830 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 20, 2023 | Jul 20, 2023 | Jul 20, 2023 | ¥0.650 | 6.18% |
| 2 | Jul 15, 2022 | Jul 15, 2022 | Jul 15, 2022 | ¥2.00 | 13.61% |
| 3 | Apr 30, 2021 | Apr 30, 2021 | Apr 30, 2021 | ¥0.500 | 3.25% |
| 4 | May 15, 2020 | May 15, 2020 | May 15, 2020 | ¥0.500 | 6.67% |
| 5 | May 24, 2019 | May 24, 2019 | May 24, 2019 | ¥0.500 | 4.27% |
FAQ
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