Sichuan Haite High-tech Co Ltd Stock Forecast
Weaker technical forecast for Sichuan Haite High-tech Co Ltd as stock downgraded to Hold/Accumulate.
(Updated on May 10, 2024)
The Sichuan Haite High-tech Co Ltd stock price fell by -2.06% on the last day (Friday, 10th May 2024) from ¥10.69 to ¥10.47. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 4.68% from a day low at ¥10.46 to a day high of ¥10.95. The price has been going up and down for this period, and there has been a 12.22% gain for the last 2 weeks. Volume has increased on the last day by 4 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 45 million shares were bought and sold for approximately ¥471.89 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 40.29% during the next 3 months and, with a 90% probability hold a price between ¥12.79 and ¥16.41 at the end of this 3-month period.
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002023.SZ Signals & Forecast
The Sichuan Haite High-tech Co 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 ¥10.77. On a fall, the stock will find some support from the long-term average at approximately ¥9.95. 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. 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. A sell signal was issued from a pivot top point on Friday, April 26, 2024, and so far it has fallen -7.10%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Sichuan Haite High-tech Co Ltd stock
Sichuan Haite High-tech Co Ltd finds support from accumulated volume at ¥10.37 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ¥0.490 between high and low, or 4.68%. For the last week, the stock has had daily average volatility of 4.49%.
Our recommended stop-loss: ¥9.99 (-4.59%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (002023.SZ) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Sichuan Haite High-tech Co Ltd to open at ¥10.63, and during the day (based on 14 day Average True Range), to move between ¥9.59 and ¥11.35, which gives a possible trading interval of +/-¥0.88 (+/-8.41%) 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 16.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥10.37 (0.96%) than the resistance at ¥10.69 (2.10%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Sichuan Haite High-tech Co Ltd will release earnings BMO on Friday, May 17, 2024. We will update the financials statements for Sichuan Haite High-tech Co Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.66% in the first trading day after earnings release.
Is Sichuan Haite High-tech Co Ltd stock A Buy?
Sichuan Haite High-tech Co Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.
Current score: 0.887 Hold/Accumulate Downgraded
Predicted Opening Price for Sichuan Haite High-tech Co Ltd of Monday, May 13, 2024
Fair opening price May 13, 2024 | Current price |
---|---|
¥10.63 ( 1.50%) | ¥10.47 |
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 | 11.12 | 6.18 % | |
R2 | 10.93 | 4.39 % | ||
R1 | 10.81 | 3.28 % | ||
Current price: | 10.47 | |||
Support | S1 | 10.44 | -0.291 % | |
S2 | 10.32 | -1.40 % | ||
S3 | 10.14 | -3.18 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 11.27 | 7.64 % | |
R2 | 11.25 | 7.45 % | ||
R1 | 10.69 | 2.10 % | ||
Current price | 10.47 | |||
Support | S1 | 10.37 | -0.96% | |
S2 | 9.59 | -8.40% | ||
S3 | 9.11 | -12.99% |
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
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