Sinosteel Anhui Tianyuan Tech. Co., Ltd. Stock Forecast
Sinosteel Anhui Tianyuan Tech. Co., Ltd. stock downgraded to Hold/Accumulate
(Updated on May 17, 2024)
The Sinosteel Anhui Tianyuan Tech. Co., Ltd. stock price gained 1.11% on the last trading day (Friday, 17th May 2024), rising from ¥8.12 to ¥8.21. During the last trading day the stock fluctuated 9.02% from a day low at ¥8.09 to a day high of ¥8.82. The price has been going up and down for this period, and there has been a 5.39% gain for the last 2 weeks. Volume fell on the last day by -3 million shares and in total, 16 million shares were bought and sold for approximately ¥129.44 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 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 21.04% during the next 3 months and, with a 90% probability hold a price between ¥8.89 and ¥10.83 at the end of this 3-month period.
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002057.SZ Signals & Forecast
The Sinosteel Anhui Tianyuan 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 ¥8.41. On a fall, the stock will find some support from the long-term average at approximately ¥7.73. 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). 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. A sell signal was issued from a pivot top point on Friday, May 10, 2024, and so far it has fallen -6.92%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Sinosteel Anhui Tianyuan Tech. Co., Ltd. stock
Sinosteel Anhui Tianyuan Tech. Co., Ltd. finds support from accumulated volume at ¥7.99 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 ¥0.730 between high and low, or 9.02%. For the last week, the stock has had daily average volatility of 7.81%.
Our recommended stop-loss: ¥7.77 (-5.34%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (002057.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Sinosteel Anhui Tianyuan Tech. Co., Ltd. to open at ¥8.37, and during the day (based on 14 day Average True Range), to move between ¥7.63 and ¥8.79, which gives a possible trading interval of +/-¥0.578 (+/-7.04%) 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 14.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥7.99 (2.68%) than the resistance at ¥8.62 (4.99%), 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?
Sinosteel Anhui Tianyuan 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: 0.581 Hold/Accumulate Downgraded
Predicted Opening Price for Sinosteel Anhui Tianyuan Tech. Co., Ltd. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥8.37 ( 1.99%) | ¥8.21 |
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 | 9.10 | 10.88 % | |
| R2 | 8.82 | 7.48 % | ||
| R1 | 8.65 | 5.39 % | ||
| Current price: | 8.21 | |||
| Support | S1 | 8.09 | -1.41 % | |
| S2 | 7.92 | -3.51 % | ||
| S3 | 7.64 | -6.90 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.82 | 7.43 % | |
| R2 | 8.80 | 7.19 % | ||
| R1 | 8.62 | 4.99 % | ||
| Current price | 8.21 | |||
| Support | S1 | 7.99 | -2.68% | |
| S2 | 7.77 | -5.36% | ||
| S3 | 7.43 | -9.50% |
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% |
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