Fujian Mindong Electric Power Ltd Co Stock Forecast
High volatility in Fujian Mindong Electric Power Ltd Co stock price on Friday which ended trading at ¥9.69
(Updated on Apr 19, 2024)
The Fujian Mindong Electric Power Ltd Co stock price fell by -3.39% on the last day (Friday, 19th Apr 2024) from ¥10.03 to ¥9.69. During the last trading day the stock fluctuated 10.55% from a day low at ¥9.57 to a day high of ¥10.58. The price has risen in 6 of the last 10 days but is still down by -1.92% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -4 million shares and in total, 28 million shares were bought and sold for approximately ¥267.78 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 21.13% during the next 3 months and, with a 90% probability hold a price between ¥11.05 and ¥14.47 at the end of this 3-month period.
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000993.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Fujian Mindong Electric Power Ltd Co 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 ¥10.22 and ¥9.81. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -17.11%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Fujian Mindong Electric Power Ltd Co stock
Fujian Mindong Electric Power Ltd Co finds support from accumulated volume at ¥9.65 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 ¥1.01 between high and low, or 10.55%. For the last week, the stock has had daily average volatility of 10.14%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000993.SZ) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Fujian Mindong Electric Power Ltd Co to open at ¥9.95, and during the day (based on 14 day Average True Range), to move between ¥8.84 and ¥10.54, which gives a possible trading interval of +/-¥0.85 (+/-8.76%) up or down from last closing price. If Fujian Mindong Electric Power Ltd Co takes out the full calculated possible swing range there will be an estimated 17.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥9.65 (0.41%) than the resistance at ¥10.81 (11.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Fujian Mindong Electric Power Ltd Co stock A Buy?
The Fujian Mindong Electric Power Ltd Co stock holds several negative signals and despite the positive trend, we believe Fujian Mindong Electric Power Ltd Co will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Sell candidate.
Current score: -4.276 Sell Candidate Downgraded
Predicted Opening Price for Fujian Mindong Electric Power Ltd Co of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
¥9.95 ( 2.65%) | ¥9.69 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000993.SZ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.96 | 13.07 % | |
R2 | 10.57 | 9.09 % | ||
R1 | 10.33 | 6.63 % | ||
Current price: | 9.69 | |||
Support | S1 | 9.56 | -1.33 % | |
S2 | 9.32 | -3.79 % | ||
S3 | 8.94 | -7.77 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 11.69 | 20.64 % | |
R2 | 11.21 | 15.69 % | ||
R1 | 10.81 | 11.56 % | ||
Current price | 9.69 | |||
Support | S1 | 9.65 | -0.413% | |
S2 | 9.51 | -1.86% | ||
S3 | 7.47 | -22.91% |
000993 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 17, 2017 | May 17, 2017 | May 17, 2017 | ¥0.0250 | 0.251% |
2 | Aug 21, 2014 | Aug 21, 2014 | Aug 21, 2014 | ¥0.0650 | 0.87% |
3 | Aug 22, 2012 | Aug 22, 2012 | Aug 22, 2012 | ¥0.0270 | 0.279% |
4 | Aug 26, 2011 | Aug 26, 2011 | Aug 26, 2011 | ¥0.120 | 1.55% |
5 | Aug 26, 2003 | Aug 26, 2003 | Aug 26, 2003 | ¥0.0347 | 0.88% |
FAQ
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