He Bei Cheng De Lolo Company Limited Stock Forecast
He Bei Cheng De Lolo Company Limited stock upgraded to Strong Buy Candidate.
(Updated on Apr 30, 2024)
The He Bei Cheng De Lolo Company Limited stock price gained 1.21% on the last trading day (Tuesday, 30th Apr 2024), rising from ¥9.10 to ¥9.21. During the last trading day the stock fluctuated 2.65% from a day low at ¥9.04 to a day high of ¥9.28. The price has risen in 6 of the last 10 days and is up by 7.85% over the past 2 weeks. Volume fell on the last day by -560 thousand shares and in total, 12 million shares were bought and sold for approximately ¥106.02 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 has broken the strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ¥9.21, a level that may pose a second chance to hit a runner. According to fan-theory ¥9.71 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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000848.SZ Signals & Forecast
Mostly positive signals in the chart today. The He Bei Cheng De Lolo Company Limited 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 ¥9.15 and ¥8.53. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 28, 2024, and so far it has risen 12.45%. 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 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.
Support, Risk & Stop-loss for He Bei Cheng De Lolo Company Limited stock
He Bei Cheng De Lolo Company Limited finds support from accumulated volume at ¥9.08 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 ¥0.240 between high and low, or 2.65%. For the last week, the stock has had daily average volatility of 2.04%.
The He Bei Cheng De Lolo Company Limited stock is extremely overbought on RSI14 (82). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: ¥8.79 (-4.61%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (000848.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect He Bei Cheng De Lolo Company Limited to open at ¥9.18, and during the day (based on 14 day Average True Range), to move between ¥8.94 and ¥9.48, which gives a possible trading interval of +/-¥0.272 (+/-2.95%) up or down from last closing price. If He Bei Cheng De Lolo Company Limited takes out the full calculated possible swing range there will be an estimated 5.90% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ¥9.08, some ¥0.130 (1.41%) from the current price of ¥9.21, our system finds the risk reward attractive.
Is He Bei Cheng De Lolo Company Limited stock A Buy?
He Bei Cheng De Lolo Company Limited holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 5.469 Strong Buy Candidate Upgraded
Predicted Opening Price for He Bei Cheng De Lolo Company Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥9.18 ( 0.362%) | ¥9.21 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000848.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.42 | 2.24 % | |
| R2 | 9.32 | 1.25 % | ||
| R1 | 9.27 | 0.634 % | ||
| Current price: | 9.21 | |||
| Support | S1 | 9.08 | -1.36 % | |
| S2 | 9.03 | -1.97 % | ||
| S3 | 8.94 | -2.97 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 9.21 | |||
| Support | S1 | 9.08 | -1.41% | |
| S2 | 8.49 | -7.82% | ||
| S3 | 7.95 | -13.68% |
000848 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2021 | May 31, 2021 | May 31, 2021 | ¥0.260 | 2.73% |
| 2 | Apr 29, 2020 | Apr 29, 2020 | Apr 29, 2020 | ¥0.182 | 3.10% |
| 3 | Apr 22, 2019 | Apr 22, 2019 | Apr 22, 2019 | ¥0.364 | 4.84% |
| 4 | Apr 27, 2018 | Apr 27, 2018 | Apr 27, 2018 | ¥0.455 | 5.95% |
| 5 | Jun 12, 2017 | Jun 12, 2017 | Jun 12, 2017 | ¥0.364 | 4.80% |
FAQ
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