Anhui Guofeng Plastic Industry Co., Ltd Stock Forecast
Anhui Guofeng Plastic Industry Co., Ltd stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Jun 26, 2024)
The Anhui Guofeng Plastic Industry Co., Ltd stock price gained 4.75% on the last trading day (Wednesday, 26th Jun 2024), rising from ¥3.37 to ¥3.53. During the last trading day the stock fluctuated 6.25% from a day low at ¥3.36 to a day high of ¥3.57. The price has fallen in 6 of the last 10 days and is down by -6.61% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 17 million more shares were traded than the day before. In total, 46 million shares were bought and sold for approximately ¥161.46 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -8.31% during the next 3 months and, with a 90% probability hold a price between ¥2.79 and ¥4.15 at the end of this 3-month period.
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000859.SZ Signals & Forecast
There are mixed signals in the stock today. The Anhui Guofeng Plastic Industry Co., Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ¥3.58 and ¥3.77. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 4.75%. 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 Anhui Guofeng Plastic Industry Co., Ltd stock
Anhui Guofeng Plastic Industry Co., Ltd finds support from accumulated volume at ¥3.49 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ¥0.210 between high and low, or 6.25%. For the last week, the stock has had daily average volatility of 17.21%.
Our recommended stop-loss: ¥3.36 (-4.82%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (000859.SZ) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Anhui Guofeng Plastic Industry Co., Ltd to open at ¥3.49, and during the day (based on 14 day Average True Range), to move between ¥2.93 and ¥4.13, which gives a possible trading interval of +/-¥0.599 (+/-16.96%) up or down from last closing price. If Anhui Guofeng Plastic Industry Co., Ltd takes out the full calculated possible swing range there will be an estimated 33.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥3.49 (1.13%) than the resistance at ¥3.85 (9.07%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Anhui Guofeng Plastic Industry Co., Ltd stock A Buy?
Anhui Guofeng Plastic Industry 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: -0.678 Hold/Accumulate Upgraded
Predicted Opening Price for Anhui Guofeng Plastic Industry Co., Ltd of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ¥3.49 ( 1.23%) | ¥3.53 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000859.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.70 | 4.72% |
| R2 | 3.62 | 2.45% |
| R1 | 3.57 | 1.04% |
| Price | 3.53 | |
| S1 | 3.41 | -3.50% |
| S2 | 3.36 | -4.90% |
| S3 | 3.28 | -7.18% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.24 | 20.11% |
| R2 | 3.90 | 10.48% |
| R1 | 3.85 | 9.07% |
| Price | 3.53 | |
| S1 | 3.49 | -1.13% |
| S2 | 3.48 | -1.42% |
| S3 | 3.46 | -1.98% |
000859 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 16, 2023 | Jun 16, 2023 | Jun 16, 2023 | ¥0.0200 | 0.410% |
| 2 | Jun 16, 2022 | Jun 16, 2022 | Jun 16, 2022 | ¥0.0200 | 0.337% |
| 3 | Jul 01, 2021 | Jul 01, 2021 | Jul 01, 2021 | ¥0.0300 | 0.507% |
| 4 | Jun 24, 2020 | Jun 24, 2020 | Jun 24, 2020 | ¥0.0150 | 0.270% |
| 5 | Jul 01, 2019 | Jul 01, 2019 | Jul 01, 2019 | ¥0.0100 | 0.186% |
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