Henan City Development Environment CoLtd Stock Forecast
Weaker technical forecast for Henan City Development Environment CoLtd as stock downgraded to Sell Candidate.
(Updated on May 10, 2024)
The Henan City Development Environment CoLtd stock price fell by -3.86% on the last day (Friday, 10th May 2024) from ¥12.95 to ¥12.45. During the last trading day the stock fluctuated 4.45% from a day low at ¥12.37 to a day high of ¥12.92. The price has been going up and down for this period, and there has been a -3.49% loss for the last 2 weeks. Volume has increased on the last day by 766 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 10 million shares were bought and sold for approximately ¥121.15 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥12.40 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 13.53% during the next 3 months and, with a 90% probability hold a price between ¥14.08 and ¥15.75 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
000885.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Henan City Development Environment CoLtd 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 ¥12.72 and ¥12.84. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -7.02%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Henan City Development Environment CoLtd stock
Henan City Development Environment CoLtd finds support from accumulated volume at ¥12.31 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 ¥0.550 (4.45%) between high and low. For the last week, the stock has had daily average volatility of 6.66%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000885.SZ) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Henan City Development Environment CoLtd to open at ¥12.58, and during the day (based on 14 day Average True Range), to move between ¥11.81 and ¥13.09, which gives a possible trading interval of +/-¥0.637 (+/-5.12%) up or down from last closing price. If Henan City Development Environment CoLtd takes out the full calculated possible swing range there will be an estimated 10.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥12.31 (1.12%) than the resistance at ¥12.89 (3.53%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Henan City Development Environment CoLtd stock A Buy?
The Henan City Development Environment CoLtd stock holds several negative signals and despite the positive trend, we believe Henan City Development Environment CoLtd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -4.801 Sell Candidate Downgraded
Predicted Opening Price for Henan City Development Environment CoLtd of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ¥12.58 ( 1.04%) | ¥12.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000885.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.13 | 5.46 % | |
| R2 | 12.92 | 3.77 % | ||
| R1 | 12.79 | 2.73 % | ||
| Current price: | 12.45 | |||
| Support | S1 | 12.37 | -0.643 % | |
| S2 | 12.24 | -1.69 % | ||
| S3 | 12.03 | -3.37 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.21 | 6.10 % | |
| R2 | 13.14 | 5.54 % | ||
| R1 | 12.89 | 3.53 % | ||
| Current price | 12.45 | |||
| Support | S1 | 12.31 | -1.12% | |
| S2 | 12.22 | -1.85% | ||
| S3 | 11.80 | -5.22% |
000885 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 07, 2023 | Jul 07, 2023 | Jul 07, 2023 | ¥0.165 | 1.26% |
| 2 | Jun 20, 2022 | Jun 20, 2022 | Jun 20, 2022 | ¥0.150 | 1.64% |
| 3 | Jun 28, 2021 | Jun 28, 2021 | Jun 28, 2021 | ¥0.0960 | 1.01% |
| 4 | May 27, 2020 | May 27, 2020 | May 27, 2020 | ¥0.115 | 1.32% |
| 5 | Jun 14, 2019 | Jun 14, 2019 | Jun 14, 2019 | ¥0.210 | 2.10% |
FAQ
Click here for our free guide on how to buy Henan City Development Environment CoLtd Stock.
