Sichuan Haite High-tech Co Ltd Stock Forecast
Volatile ride for Sichuan Haite High-tech Co Ltd stock price on Friday moving between ¥9.45 and ¥12.18
(Updated on Apr 26, 2024)
The Sichuan Haite High-tech Co Ltd stock price gained 1.81% on the last trading day (Friday, 26th Apr 2024), rising from ¥11.07 to ¥11.27. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 28.89% from a day low at ¥9.45 to a day high of ¥12.18. The price has risen in 6 of the last 10 days and is up by 21.05% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 101 million more shares were traded than the day before. In total, 166 million shares were bought and sold for approximately ¥1.87 billion.
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 44.37% during the next 3 months and, with a 90% probability hold a price between ¥12.57 and ¥17.34 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
002023.SZ Signals & Forecast
The Sichuan Haite High-tech 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 ¥10.08 and ¥9.58. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 37.44%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Sichuan Haite High-tech Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥10.37 and ¥9.59. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Sichuan Haite High-tech Co Ltd finds support just below today's level at ¥10.37. If this is broken, then the next support from accumulated volume will be at ¥9.59 and ¥9.11.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ¥2.73 between high and low, or 28.89%. For the last week, the stock has had daily average volatility of 12.93%.
Our recommended stop-loss: ¥10.83 (-3.88%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (002023.SZ) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Sichuan Haite High-tech Co Ltd to open at ¥10.97, and during the day (based on 14 day Average True Range), to move between ¥10.21 and ¥12.33, which gives a possible trading interval of +/-¥1.06 (+/-9.44%) up or down from last closing price. If Sichuan Haite High-tech Co Ltd takes out the full calculated possible swing range there will be an estimated 18.87% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ¥10.37, some ¥0.90 (7.99%) from the current price of ¥11.27, our system finds the risk reward attractive.
Is Sichuan Haite High-tech Co Ltd stock A Buy?
Sichuan Haite High-tech Co Ltd holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 5.575 Strong Buy Candidate Unchanged
Predicted Opening Price for Sichuan Haite High-tech Co Ltd of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ¥10.97 ( 2.69%) | ¥11.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002023.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.70 | 21.53 % | |
| R2 | 12.65 | 12.28 % | ||
| R1 | 12.01 | 6.56 % | ||
| Current price: | 11.27 | |||
| Support | S1 | 9.92 | -11.94 % | |
| S2 | 9.28 | -17.66 % | ||
| S3 | 8.24 | -26.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 11.27 | |||
| Support | S1 | 10.37 | -7.99% | |
| S2 | 9.59 | -14.91% | ||
| S3 | 9.11 | -19.17% |
002023 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 12, 2020 | Jun 12, 2020 | Jun 12, 2020 | ¥0.0300 | 0.211% |
| 2 | Jun 01, 2017 | Jun 01, 2017 | Jun 01, 2017 | ¥0.100 | 1.06% |
| 3 | May 08, 2015 | May 08, 2015 | May 08, 2015 | ¥0.0500 | 0.279% |
| 4 | May 27, 2014 | May 27, 2014 | May 27, 2014 | ¥0.0500 | 0.617% |
| 5 | Jun 04, 2013 | Jun 04, 2013 | Jun 04, 2013 | ¥0.0500 | 0.780% |
FAQ
Click here for our free guide on how to buy Sichuan Haite High-tech Co Ltd Stock.
