Sinosteel Anhui Tianyuan Tech. Co., Ltd. Stock Forecast
Sinosteel Anhui Tianyuan Tech. Co., Ltd. stock downgraded from Strong Buy Candidate to Buy Candidate after Tuesday trading session.
(Updated on Apr 30, 2024)
The Sinosteel Anhui Tianyuan Tech. Co., Ltd. stock price fell by -2.87% on the last day (Tuesday, 30th Apr 2024) from ¥8.02 to ¥7.79. During the last trading day the stock fluctuated 4.44% from a day low at ¥7.65 to a day high of ¥7.99. The price has been going up and down for this period, and there has been a 14.22% gain for the last 2 weeks. 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 -15 million shares and in total, 24 million shares were bought and sold for approximately ¥189.78 million.
The stock lies in the middle of a 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 17.53% during the next 3 months and, with a 90% probability hold a price between ¥8.21 and ¥9.45 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.
002057.SZ Signals & Forecast
The Sinosteel Anhui Tianyuan 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 ¥7.76 and ¥7.41. A breakdown below any of these levels will issue sell signals. 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 Monday, April 29, 2024, and so far it has fallen -2.87%. Further fall is indicated until a new bottom pivot has been found. 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 Sinosteel Anhui Tianyuan Tech. Co., Ltd. stock
Sinosteel Anhui Tianyuan Tech. Co., Ltd. finds support from accumulated volume at ¥7.77 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 ¥0.340 between high and low, or 4.44%. For the last week, the stock has had daily average volatility of 6.13%.
Our recommended stop-loss: ¥7.40 (-5.05%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (002057.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Sinosteel Anhui Tianyuan Tech. Co., Ltd. to open at ¥7.81, and during the day (based on 14 day Average True Range), to move between ¥7.33 and ¥8.25, which gives a possible trading interval of +/-¥0.465 (+/-5.96%) up or down from last closing price. If Sinosteel Anhui Tianyuan Tech. Co., Ltd. takes out the full calculated possible swing range there will be an estimated 11.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥7.77 (0.26%) than the resistance at ¥7.88 (1.16%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sinosteel Anhui Tianyuan Tech. 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 Sinosteel Anhui Tianyuan Tech. 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: 2.444 Buy Candidate Downgraded
Predicted Opening Price for Sinosteel Anhui Tianyuan Tech. Co., Ltd. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥7.81 ( 0.257%) | ¥7.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002057.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.15 | 4.62 % | |
| R2 | 8.02 | 2.95 % | ||
| R1 | 7.94 | 1.92 % | ||
| Current price: | 7.79 | |||
| Support | S1 | 7.68 | -1.41 % | |
| S2 | 7.60 | -2.44 % | ||
| S3 | 7.47 | -4.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.02 | 2.95 % | |
| R2 | 7.99 | 2.57 % | ||
| R1 | 7.88 | 1.16 % | ||
| Current price | 7.79 | |||
| Support | S1 | 7.77 | -0.257% | |
| S2 | 7.63 | -2.05% | ||
| S3 | 7.43 | -4.62% |
002057 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 09, 2023 | Jun 09, 2023 | Jun 09, 2023 | ¥0.241 | 2.45% |
| 2 | Jun 14, 2022 | Jun 14, 2022 | Jun 14, 2022 | ¥0.139 | 1.42% |
| 3 | Jun 18, 2021 | Jun 18, 2021 | Jun 18, 2021 | ¥0.100 | 1.45% |
| 4 | Jun 11, 2020 | Jun 11, 2020 | Jun 11, 2020 | ¥0.0700 | 0.92% |
| 5 | Jun 17, 2019 | Jun 17, 2019 | Jun 17, 2019 | ¥0.0667 | 0.554% |
FAQ
Click here for our free guide on how to buy Sinosteel Anhui Tianyuan Tech. Co., Ltd. Stock.
