Hengbao Co., Ltd. Stock Forecast
Hengbao Co., Ltd. stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 10, 2024)
The Hengbao Co., Ltd. stock price gained 1.77% on the last trading day (Friday, 10th May 2024), rising from ¥6.22 to ¥6.33. During the last trading day the stock fluctuated 8.37% from a day low at ¥6.09 to a day high of ¥6.60. The price has risen in 6 of the last 10 days and is up by 6.75% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 23 million more shares were traded than the day before. In total, 31 million shares were bought and sold for approximately ¥194.71 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -6.95% during the next 3 months and, with a 90% probability hold a price between ¥5.03 and ¥6.33 at the end of this 3-month period.
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002104.SZ Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Hengbao Co., Ltd. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ¥6.38. On a fall, the stock will find some support from the short-term average at ¥6.28. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -0.472%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Hengbao Co., Ltd. stock
Hengbao Co., Ltd. finds support from accumulated volume at ¥6.24 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 ¥0.510 between high and low, or 8.37%. For the last week, the stock has had daily average volatility of 3.52%.
Our recommended stop-loss: ¥6.09 (-3.81%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (002104.SZ) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Hengbao Co., Ltd. to open at ¥6.34, and during the day (based on 14 day Average True Range), to move between ¥6.01 and ¥6.65, which gives a possible trading interval of +/-¥0.321 (+/-5.07%) up or down from last closing price. If Hengbao Co., Ltd. takes out the full calculated possible swing range there will be an estimated 10.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥6.34 (0.16%) than the support at ¥6.24 (1.42%), 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 Hengbao Co., Ltd. stock A Buy?
Hengbao 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.541 Hold/Accumulate Upgraded
Predicted Opening Price for Hengbao Co., Ltd. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ¥6.34 ( 0.158%) | ¥6.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002104.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.85 | 8.21 % | |
| R2 | 6.66 | 5.14 % | ||
| R1 | 6.53 | 3.24 % | ||
| Current price: | 6.33 | |||
| Support | S1 | 6.15 | -2.92 % | |
| S2 | 6.02 | -4.82 % | ||
| S3 | 5.83 | -7.90 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.87 | 8.53 % | |
| R2 | 6.55 | 3.48 % | ||
| R1 | 6.34 | 0.158 % | ||
| Current price | 6.33 | |||
| Support | S1 | 6.24 | -1.42% | |
| S2 | 6.05 | -4.42% | ||
| S3 | 5.95 | -6.00% |
002104 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 21, 2021 | Oct 21, 2021 | Oct 21, 2021 | ¥0.215 | 3.64% |
| 2 | Jun 07, 2016 | Jun 07, 2016 | Jun 07, 2016 | ¥0.100 | 0.653% |
| 3 | Jun 19, 2015 | Jun 19, 2015 | Jun 19, 2015 | ¥0.100 | 0.385% |
| 4 | Jul 11, 2014 | Jul 11, 2014 | Jul 11, 2014 | ¥0.0938 | 0.84% |
| 5 | May 28, 2013 | May 28, 2013 | May 28, 2013 | ¥0.0625 | 0.89% |
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