Yunnan Energy Investment Co Ltd Stock Forecast
Yunnan Energy Investment Co Ltd stock downgraded to Buy Candidate
(Updated on May 07, 2024)
The Yunnan Energy Investment Co Ltd stock price gained 0.0772% on the last trading day (Tuesday, 7th May 2024), rising from ¥12.96 to ¥12.97. 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 7.99% from a day low at ¥12.26 to a day high of ¥13.24. The price has risen in 7 of the last 10 days and is up by 5.96% over the past 2 weeks. Volume fell on the last day by -4 million shares and in total, 10 million shares were bought and sold for approximately ¥127.28 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ¥13.14 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 37.39% during the next 3 months and, with a 90% probability hold a price between ¥16.88 and ¥18.05 at the end of this 3-month period.
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002053.SZ Signals & Forecast
The Yunnan Energy Investment 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 ¥12.59 and ¥11.50. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 29, 2024, and so far it has risen 5.79%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Yunnan Energy Investment Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥11.92 and ¥11.77. 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, Yunnan Energy Investment Co Ltd finds support just below today's level at ¥11.92. If this is broken, then the next support from accumulated volume will be at ¥11.77 and ¥11.51.
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 ¥0.98 between high and low, or 7.99%. For the last week, the stock has had daily average volatility of 5.58%.
Our recommended stop-loss: ¥12.55 (-3.23%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (002053.SZ) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Yunnan Energy Investment Co Ltd to open at ¥12.82, and during the day (based on 14 day Average True Range), to move between ¥12.42 and ¥13.52, which gives a possible trading interval of +/-¥0.549 (+/-4.23%) up or down from last closing price. If Yunnan Energy Investment Co Ltd takes out the full calculated possible swing range there will be an estimated 8.46% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ¥11.92, some ¥1.05 (8.10%) from the current price of ¥12.97, our system finds the risk reward attractive.
Is Yunnan Energy Investment Co 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 Yunnan Energy Investment Co Ltd stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 3.903 Buy Candidate Downgraded
Predicted Opening Price for Yunnan Energy Investment Co Ltd of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| ¥12.82 ( 1.13%) | ¥12.97 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002053.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.80 | 6.43 % | |
| R2 | 13.43 | 3.54 % | ||
| R1 | 13.20 | 1.76 % | ||
| Current price: | 12.97 | |||
| Support | S1 | 12.45 | -4.02 % | |
| S2 | 12.22 | -5.80 % | ||
| S3 | 11.84 | -8.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 12.97 | |||
| Support | S1 | 11.92 | -8.10% | |
| S2 | 11.77 | -9.25% | ||
| S3 | 11.51 | -11.26% |
002053 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 09, 2023 | Jun 09, 2023 | Jun 09, 2023 | ¥0.0500 | 0.455% |
| 2 | May 10, 2022 | May 10, 2022 | May 10, 2022 | ¥0.0200 | 0.173% |
| 3 | Jun 18, 2020 | Jun 18, 2020 | Jun 18, 2020 | ¥0.0800 | 1.15% |
| 4 | May 16, 2019 | May 16, 2019 | May 16, 2019 | ¥0.0500 | 0.563% |
| 5 | May 25, 2018 | May 25, 2018 | May 25, 2018 | ¥0.100 | 0.99% |
FAQ
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