Daqing Huake Company Ltd. Stock Forecast
Daqing Huake Company Ltd. stock upgraded from Sell Candidate to Buy Candidate after Wednesday trading session.
(Updated on May 29, 2024)
The Daqing Huake Company Ltd. stock price gained 0.557% on the last trading day (Wednesday, 29th May 2024), rising from ¥14.37 to ¥14.45. During the last trading day the stock fluctuated 6.83% from a day low at ¥14.20 to a day high of ¥15.17. The price has fallen in 6 of the last 10 days and is down by -2.82% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 773 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately ¥36.45 million.
The stock lies in the middle of a wide and weak 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 8.14% during the next 3 months and, with a 90% probability hold a price between ¥14.25 and ¥16.84 at the end of this 3-month period.
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000985.SZ Signals & Forecast
The Daqing Huake Company 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 ¥14.64. On a fall, the stock will find some support from the long-term average at approximately ¥14.39. 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 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 Monday, May 20, 2024, and so far it has fallen -4.81%. 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 Daqing Huake Company Ltd. stock
Daqing Huake Company Ltd. finds support from accumulated volume at ¥14.37 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 ¥0.97 (6.83%) between high and low. For the last week, the stock has had daily average volatility of 5.09%.
Our recommended stop-loss: ¥13.74 (-4.91%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 27 days ago.)
Trading Expectations (000985.SZ) For The Upcoming Trading Day Of Thursday 30th
For the upcoming trading day on Thursday, 30th we expect Daqing Huake Company Ltd. to open at ¥14.61, and during the day (based on 14 day Average True Range), to move between ¥13.77 and ¥15.13, which gives a possible trading interval of +/-¥0.676 (+/-4.68%) up or down from last closing price. If Daqing Huake Company Ltd. takes out the full calculated possible swing range there will be an estimated 9.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥14.48 (0.21%) than the support at ¥14.37 (0.55%), 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 Daqing Huake Company 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 Daqing Huake Company Ltd. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.327 Buy Candidate Upgraded
Predicted Opening Price for Daqing Huake Company Ltd. of Thursday, May 30, 2024
| Fair opening price May 30, 2024 | Current price |
|---|---|
| ¥14.61 ( 1.08%) | ¥14.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000985.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.58 | 7.80 % | |
| R2 | 15.21 | 5.23 % | ||
| R1 | 14.98 | 3.65 % | ||
| Current price: | 14.45 | |||
| Support | S1 | 14.24 | -1.48 % | |
| S2 | 14.01 | -3.06 % | ||
| S3 | 13.64 | -5.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.87 | 2.91 % | |
| R2 | 14.78 | 2.28 % | ||
| R1 | 14.48 | 0.208 % | ||
| Current price | 14.45 | |||
| Support | S1 | 14.37 | -0.554% | |
| S2 | 13.99 | -3.18% | ||
| S3 | 13.47 | -6.78% |
000985 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 21, 2023 | Jun 21, 2023 | Jun 21, 2023 | ¥0.0480 | 0.310% |
| 2 | Jun 23, 2022 | Jun 23, 2022 | Jun 23, 2022 | ¥0.0460 | 0.278% |
| 3 | May 31, 2021 | May 31, 2021 | May 31, 2021 | ¥0.0460 | 0.388% |
| 4 | Jun 29, 2020 | Jun 29, 2020 | Jun 29, 2020 | ¥0.160 | 1.32% |
| 5 | Jun 14, 2018 | Jun 14, 2018 | Jun 14, 2018 | ¥0.185 | 1.19% |
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