Hunan Valin Steel Co., Ltd. Stock Forecast
Hunan Valin Steel Co., Ltd. stock price fell more than -9.38% Tuesday closing at ¥5.22
(Updated on Apr 30, 2024)
The Hunan Valin Steel Co., Ltd. stock price fell by -9.38% on the last day (Tuesday, 30th Apr 2024) from ¥5.76 to ¥5.22. During the last trading day the stock fluctuated 10.00% from a day low at ¥5.20 to a day high of ¥5.72. The price has risen in 6 of the last 10 days but is still down by -4.22% for this period. Volume has increased on the last day by 185 million 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, 264 million shares were bought and sold for approximately ¥1.38 billion.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥5.08 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -2.53% during the next 3 months and, with a 90% probability hold a price between ¥4.96 and ¥5.74 at the end of this 3-month period.
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000932.SZ Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Hunan Valin Steel Co., Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ¥5.63 and ¥5.45. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -11.68%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A sell signal from a double top formation was found on Friday, April 19, 2024 and based on theory for this formation the price should fall by -16.09% to ¥4.38 within 28 trading days since signal was issued (Monday, May 06, 2024).
Support, Risk & Stop-loss for Hunan Valin Steel Co., Ltd. stock
Hunan Valin Steel Co., Ltd. finds support from accumulated volume at ¥5.20 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 ¥0.520 between high and low, or 10.00%. For the last week, the stock has had daily average volatility of 4.68%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000932.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Hunan Valin Steel Co., Ltd. to open at ¥5.38, and during the day (based on 14 day Average True Range), to move between ¥4.96 and ¥5.48, which gives a possible trading interval of +/-¥0.264 (+/-5.07%) up or down from last closing price. If Hunan Valin Steel Co., Ltd. takes out the full calculated possible swing range there will be an estimated 10.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥5.20 (0.38%) than the resistance at ¥5.34 (2.30%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Hunan Valin Steel Co., Ltd. will release earnings BMO on Tuesday, May 07, 2024. We will update the financials statements for Hunan Valin Steel Co., Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.72% in the first trading day after earnings release.
Is Hunan Valin Steel Co., Ltd. stock A Buy?
Hunan Valin Steel Co., Ltd. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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: -3.087 Sell Candidate Downgraded
Predicted Opening Price for Hunan Valin Steel Co., Ltd. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥5.38 ( 3.07%) | ¥5.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000932.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.90 | 13.03 % | |
| R2 | 5.70 | 9.22 % | ||
| R1 | 5.58 | 6.87 % | ||
| Current price: | 5.22 | |||
| Support | S1 | 5.18 | -0.740 % | |
| S2 | 5.06 | -3.09 % | ||
| S3 | 4.86 | -6.90 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.71 | 9.39 % | |
| R2 | 5.45 | 4.41 % | ||
| R1 | 5.34 | 2.30 % | ||
| Current price | 5.22 | |||
| Support | S1 | 5.20 | -0.383% | |
| S2 | 5.19 | -0.575% | ||
| S3 | 5.14 | -1.53% |
000932 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 30, 2023 | Jun 30, 2023 | Jun 30, 2023 | ¥0.240 | 5.03% |
| 2 | Jun 02, 2022 | Jun 02, 2022 | Jun 02, 2022 | ¥0.290 | 5.59% |
| 3 | May 10, 2021 | May 10, 2021 | May 10, 2021 | ¥0.210 | 2.42% |
| 4 | May 18, 2020 | May 18, 2020 | May 18, 2020 | ¥0.250 | 6.49% |
| 5 | Jun 17, 2009 | Jun 17, 2009 | Jun 17, 2009 | ¥0.0357 | 0.775% |
FAQ
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