Hunan Resun Co., Ltd. Stock Forecast
Red day on Friday for Hunan Resun Co., Ltd. stock after losing 0.0651%
(Updated on Jun 21, 2024)
The Hunan Resun Co., Ltd. stock price fell by -0.0651% on the last day (Friday, 21st Jun 2024) from ¥15.36 to ¥15.35. During the last trading day the stock fluctuated 3.37% from a day low at ¥15.15 to a day high of ¥15.66. The price has fallen in 6 of the last 10 days and is down by -6.46% 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 -109 thousand shares and in total, 682 thousand shares were bought and sold for approximately ¥10.46 million.
The stockhas broken the falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is ¥15.24, a level that may pose a second chance to hit a runner. According to fan-theory ¥16.37 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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001218.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Hunan Resun Co., Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ¥15.57 and ¥16.75. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -2.10%. 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 Hunan Resun Co., Ltd. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ¥0.510 between high and low, or 3.37%. For the last week the stock has had daily average volatility of 2.68%.
Hunan Resun Co., Ltd. is oversold on RSI14 (13). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: ¥14.51 (-5.46%) (This stock has low daily movements and this gives low risk. Low RSI14 is 13 which reduces the risk some. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (001218.SZ) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Hunan Resun Co., Ltd. to open at ¥15.39, and during the day (based on 14 day Average True Range), to move between ¥14.53 and ¥16.17, which gives a possible trading interval of +/-¥0.82 (+/-5.34%) up or down from last closing price. If Hunan Resun Co., Ltd. takes out the full calculated possible swing range there will be an estimated 10.68% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ¥15.65, some ¥0.300 (1.95%) from the current price of ¥15.35, our system finds the risk reward not very attractive.
Is Hunan Resun Co., Ltd. stock A Buy?
Hunan Resun Co., Ltd. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Hunan Resun Co., Ltd. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ¥15.39 ( 0.239%) | ¥15.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 001218.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.90 | 3.56% |
| R2 | 15.70 | 2.29% |
| R1 | 15.58 | 1.51% |
| Price | 15.35 | |
| S1 | 15.19 | -1.03% |
| S2 | 15.07 | -1.81% |
| S3 | 14.88 | -3.08% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.86 | 3.32% |
| R2 | 15.66 | 2.02% |
| R1 | 15.65 | 1.95% |
| Price | 15.35 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
001218 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 07, 2024 | Jun 07, 2024 | Jun 07, 2024 | ¥0.650 | 4.08% |
| 2 | Jun 02, 2023 | Jun 02, 2023 | Jun 02, 2023 | ¥0.600 | 2.71% |
| 3 | Jun 06, 2022 | Jun 06, 2022 | Jun 06, 2022 | ¥0.90 | 3.80% |
FAQ
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