Sansteel MinGuang Co., Ltd., Fujian Stock Forecast
Green day on Thursday for Sansteel MinGuang Co., Ltd., Fujian stock after gaining 1.15%
(Updated on May 09, 2024)
The Sansteel MinGuang Co., Ltd., Fujian stock price gained 1.15% on the last trading day (Thursday, 9th May 2024), rising from ¥3.47 to ¥3.51. During the last trading day the stock fluctuated 1.73% from a day low at ¥3.47 to a day high of ¥3.53. The price has fallen in 5 of the last 10 days and is down by -5.39% for this period. Volume fell on the last day by -4 million shares and in total, 11 million shares were bought and sold for approximately ¥39.34 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 lower of a falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥3.47 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -2.25% during the next 3 months and, with a 90% probability hold a price between ¥3.39 and ¥3.70 at the end of this 3-month period.
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002110.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 08, 2024, and so far it has risen 1.15%. 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. The Sansteel MinGuang Co., Ltd., Fujian stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ¥3.55 and ¥3.64. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A sell signal from a double top formation was found on Friday, April 19, 2024 and based on theory for this formation the price should fall by -3.91% to ¥3.37 within 38 trading days since signal was issued (Friday, May 10, 2024).
Support, Risk & Stop-loss for Sansteel MinGuang Co., Ltd., Fujian stock
Sansteel MinGuang Co., Ltd., Fujian finds support from accumulated volume at ¥3.47 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ¥0.0600 (1.73%) between high and low. For the last week, the stock has had daily average volatility of 2.05%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002110.SZ) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Sansteel MinGuang Co., Ltd., Fujian to open at ¥3.50, and during the day (based on 14 day Average True Range), to move between ¥3.42 and ¥3.60, which gives a possible trading interval of +/-¥0.0883 (+/-2.52%) up or down from last closing price. If Sansteel MinGuang Co., Ltd., Fujian takes out the full calculated possible swing range there will be an estimated 5.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥3.47 (1.14%) than the resistance at ¥3.59 (2.28%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sansteel MinGuang Co., Ltd., Fujian stock A Buy?
Sansteel MinGuang Co., Ltd., Fujian holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.230 Sell Candidate Unchanged
Predicted Opening Price for Sansteel MinGuang Co., Ltd., Fujian of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| ¥3.50 ( 0.190%) | ¥3.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002110.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.56 | 1.52 % | |
| R2 | 3.54 | 0.87 % | ||
| R1 | 3.53 | 0.463 % | ||
| Current price: | 3.51 | |||
| Support | S1 | 3.48 | -0.84 % | |
| S2 | 3.47 | -1.25 % | ||
| S3 | 3.44 | -1.90 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.67 | 4.56 % | |
| R2 | 3.66 | 4.27 % | ||
| R1 | 3.59 | 2.28 % | ||
| Current price | 3.51 | |||
| Support | S1 | 3.47 | -1.14% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
002110 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 16, 2023 | Jun 16, 2023 | Jun 16, 2023 | ¥0.0500 | 1.16% |
| 2 | Jun 10, 2022 | Jun 10, 2022 | Jun 10, 2022 | ¥0.82 | 12.79% |
| 3 | Jun 18, 2021 | Jun 18, 2021 | Jun 18, 2021 | ¥0.450 | 6.64% |
| 4 | Jun 11, 2020 | Jun 11, 2020 | Jun 11, 2020 | ¥0.250 | 3.75% |
| 5 | May 22, 2019 | May 22, 2019 | May 22, 2019 | ¥2.00 | 20.00% |
FAQ
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