Hongrun Construction Group Co., Ltd. Stock Forecast
Evaluation of Hongrun Construction Group Co., Ltd. stock downgraded after the last trading session.
(Updated on May 17, 2024)
The Hongrun Construction Group Co., Ltd. stock price fell by -0.466% on the last day (Friday, 17th May 2024) from ¥4.29 to ¥4.27. During the last trading day the stock fluctuated 2.64% from a day low at ¥4.16 to a day high of ¥4.27. The price has risen in 5 of the last 10 days and is up by 4.15% over the past 2 weeks. Volume has increased on the last day by 401 thousand 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, 11 million shares were bought and sold for approximately ¥47.20 million.
The stock lies in the middle of a weak 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 7.24% during the next 3 months and, with a 90% probability hold a price between ¥4.25 and ¥4.67 at the end of this 3-month period.
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002062.SZ Signals & Forecast
The Hongrun Construction Group 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 ¥4.21 and ¥4.11. 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 Thursday, May 16, 2024, and so far it has fallen -0.466%. 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 Hongrun Construction Group Co., Ltd. stock
Hongrun Construction Group Co., Ltd. finds support from accumulated volume at ¥4.11 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 ¥0.110 between high and low, or 2.64%. For the last week, the stock has had daily average volatility of 2.31%.
Our recommended stop-loss: ¥4.15 (-2.80%) (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 (002062.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Hongrun Construction Group Co., Ltd. to open at ¥4.23, and during the day (based on 14 day Average True Range), to move between ¥4.15 and ¥4.39, which gives a possible trading interval of +/-¥0.125 (+/-2.92%) up or down from last closing price. If Hongrun Construction Group Co., Ltd. takes out the full calculated possible swing range there will be an estimated 5.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥4.29 (0.47%) than the support at ¥4.11 (3.75%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Hongrun Construction Group 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 Hongrun Construction Group 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: 2.612 Buy Candidate Downgraded
Predicted Opening Price for Hongrun Construction Group Co., Ltd. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥4.23 ( 0.86%) | ¥4.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002062.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.34 | 1.72 % | |
| R2 | 4.30 | 0.733 % | ||
| R1 | 4.28 | 0.125 % | ||
| Current price: | 4.27 | |||
| Support | S1 | 4.19 | -1.84 % | |
| S2 | 4.17 | -2.45 % | ||
| S3 | 4.12 | -3.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 4.29 | 0.468 % | ||
| Current price | 4.27 | |||
| Support | S1 | 4.11 | -3.75% | |
| S2 | 4.03 | -5.62% | ||
| S3 | 3.99 | -6.56% |
002062 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 17, 2024 | May 17, 2024 | May 17, 2024 | ¥0.100 | 2.35% |
| 2 | Jun 12, 2023 | Jun 12, 2023 | Jun 12, 2023 | ¥0.100 | 1.85% |
| 3 | Jul 20, 2022 | Jul 20, 2022 | Jul 20, 2022 | ¥0.100 | 1.42% |
| 4 | May 27, 2021 | May 27, 2021 | May 27, 2021 | ¥0.120 | 2.58% |
| 5 | Jun 03, 2020 | Jun 03, 2020 | Jun 03, 2020 | ¥0.0500 | 1.08% |
FAQ
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