Henan Shenhuo Coal & Power Co Ltd Stock Forecast

Green day on Thursday for Henan Shenhuo Coal & Power Co Ltd
(Updated on Apr 25, 2024)

000933.SZ Signals & Forecast

A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -11.58%. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. The Henan Shenhuo Coal & Power 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 ¥22.89. On a fall, the stock will find some support from the long-term average at approximately ¥21.08. 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. 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. The stock had a Golden Star Signal on Thursday, August 24, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Henan Shenhuo Coal & Power Co Ltd stock

Henan Shenhuo Coal & Power Co Ltd finds support from accumulated volume at ¥22.20 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 ¥2.11 between high and low, or 9.85%. For the last week, the stock has had daily average volatility of 8.24%.

Our recommended stop-loss: ¥21.06 (-5.50%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 8 days ago.)

Trading Expectations (000933.SZ) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Henan Shenhuo Coal & Power Co Ltd to open at ¥22.41, and during the day (based on 14 day Average True Range), to move between ¥20.54 and ¥24.04, which gives a possible trading interval of +/-¥1.75 (+/-7.84%) up or down from last closing price. If Henan Shenhuo Coal & Power Co Ltd takes out the full calculated possible swing range there will be an estimated 15.68% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥22.20 (0.40%) than the resistance at ¥23.02 (3.28%), 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 Shenhuo Coal & Power Co Ltd stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.

Current score: 3.136 Buy Candidate Unchanged

Predicted Opening Price for Henan Shenhuo Coal & Power Co Ltd of Friday, April 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.