Xinxiang Chemical Fiber Co., Ltd. Stock Forecast
Big movements in Xinxiang Chemical Fiber Co., Ltd. stock price on Friday moving 12.14% between high and low
(Updated on May 17, 2024)
The Xinxiang Chemical Fiber Co., Ltd. stock price gained 10.05% on the last trading day (Friday, 17th May 2024), rising from ¥4.28 to ¥4.71. During the last trading day the stock fluctuated 12.14% from a day low at ¥4.20 to a day high of ¥4.71. The price has been going up and down for this period, and there has been a 12.95% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 37 million more shares were traded than the day before. In total, 99 million shares were bought and sold for approximately ¥465.32 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 85.57% during the next 3 months and, with a 90% probability hold a price between ¥7.79 and ¥10.68 at the end of this 3-month period.
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000949.SZ Signals & Forecast
The Xinxiang Chemical Fiber Co., Ltd. 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 ¥4.47 and ¥4.17. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -5.61%. 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).
Support, Risk & Stop-loss for Xinxiang Chemical Fiber Co., Ltd. stock
Xinxiang Chemical Fiber Co., Ltd. finds support from accumulated volume at ¥4.62 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 ¥0.510 between high and low, or 12.14%. For the last week, the stock has had daily average volatility of 8.64%.
Our recommended stop-loss: ¥4.51 (-4.30%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (000949.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Xinxiang Chemical Fiber Co., Ltd. to open at ¥4.54, and during the day (based on 14 day Average True Range), to move between ¥4.29 and ¥5.13, which gives a possible trading interval of +/-¥0.423 (+/-8.98%) up or down from last closing price. If Xinxiang Chemical Fiber Co., Ltd. takes out the full calculated possible swing range there will be an estimated 17.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥4.73 (0.42%) than the support at ¥4.62 (1.91%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Xinxiang Chemical Fiber Co., Ltd. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Xinxiang Chemical Fiber Co., Ltd. stock to perform well in the short-term.
Current score: 4.276 Buy Candidate Unchanged
Predicted Opening Price for Xinxiang Chemical Fiber Co., Ltd. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥4.54 ( 3.61%) | ¥4.71 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000949.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.05 | 7.22 % | |
| R2 | 4.86 | 3.08 % | ||
| R1 | 4.73 | 0.527 % | ||
| Current price: | 4.71 | |||
| Support | S1 | 4.35 | -7.75 % | |
| S2 | 4.22 | -10.30 % | ||
| S3 | 4.03 | -14.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.99 | 5.94 % | |
| R2 | 4.92 | 4.46 % | ||
| R1 | 4.73 | 0.425 % | ||
| Current price | 4.71 | |||
| Support | S1 | 4.62 | -1.91% | |
| S2 | 4.46 | -5.31% | ||
| S3 | 4.05 | -14.01% |
000949 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 13, 2022 | May 13, 2022 | May 13, 2022 | ¥0.100 | 2.86% |
| 2 | May 12, 2021 | May 12, 2021 | May 12, 2021 | ¥0.0100 | 0.186% |
| 3 | Jun 15, 2020 | Jun 15, 2020 | Jun 15, 2020 | ¥0.0100 | 0.287% |
| 4 | May 24, 2019 | May 24, 2019 | May 24, 2019 | ¥0.0100 | 0.340% |
| 5 | Jun 07, 2018 | Jun 07, 2018 | Jun 07, 2018 | ¥0.0100 | 0.283% |
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