Shanxi Xishan Coal and Electricity Power Stock Forecast

Shanxi Xishan Coal and Electricity Power stock price down 0.0883% on Friday
(Updated on Apr 19, 2024)

000983.SZ Signals & Forecast

The Shanxi Xishan Coal and Electricity Power 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 ¥11.15 and ¥10.90. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 01, 2024, and so far it has risen 11.87%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. The stock had a Golden Star Signal on Thursday, November 09, 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 Shanxi Xishan Coal and Electricity Power stock

Shanxi Xishan Coal and Electricity Power finds support from accumulated volume at ¥10.89 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 ¥0.460 between high and low, or 4.18%. For the last week, the stock has had daily average volatility of 3.66%.

Our recommended stop-loss: ¥10.92 (-3.44%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 83 and this increases the risk substantially. There is a buy signal from a pivot bottom found 12 days ago.)

Trading Expectations (000983.SZ) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Shanxi Xishan Coal and Electricity Power to open at ¥11.26, and during the day (based on 14 day Average True Range), to move between ¥10.82 and ¥11.80, which gives a possible trading interval of +/-¥0.490 (+/-4.34%) up or down from last closing price. If Shanxi Xishan Coal and Electricity Power takes out the full calculated possible swing range there will be an estimated 8.67% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥11.57 (2.30%) than the support at ¥10.89 (3.71%), 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 Shanxi Xishan Coal and Electricity Power stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Shanxi Xishan Coal and Electricity Power stock to perform well in the short-term period.

Current score: 3.255 Buy Candidate Unchanged

Predicted Opening Price for Shanxi Xishan Coal and Electricity Power of Monday, April 22, 2024

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