Huolinhe Opencut Coal Ind Corp. Ltd. Stock Forecast
Huolinhe Opencut Coal Ind Corp. Ltd. stock upgraded to Buy Candidate.
(Updated on May 20, 2024)
The Huolinhe Opencut Coal Ind Corp. Ltd. stock price gained 3.32% on the last trading day (Monday, 20th May 2024), rising from ¥21.41 to ¥22.12. During the last trading day the stock fluctuated 5.34% from a day low at ¥21.15 to a day high of ¥22.28. The price has risen in 7 of the last 10 days and is up by 3.8% 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, 5 million more shares were traded than the day before. In total, 19 million shares were bought and sold for approximately ¥428.16 million.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ¥22.48 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 37.90% during the next 3 months and, with a 90% probability hold a price between ¥26.91 and ¥31.00 at the end of this 3-month period.
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002128.SZ Signals & Forecast
Mostly positive signals in the chart today. The Huolinhe Opencut Coal Ind Corp. 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 ¥21.67 and ¥19.50. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 17.53%. Further rise is indicated until a new top pivot has been found. 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. The stock had a Golden Star Signal on Wednesday, November 15, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Wednesday, November 15, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Huolinhe Opencut Coal Ind Corp. Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥20.20 and ¥19.88. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Huolinhe Opencut Coal Ind Corp. Ltd. finds support just below today's level at ¥20.20. If this is broken, then the next support from accumulated volume will be at ¥19.88 and ¥19.83.
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 ¥1.13 between high and low, or 5.34%. For the last week, the stock has had daily average volatility of 3.49%.
The Huolinhe Opencut Coal Ind Corp. Ltd. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: ¥20.93 (-5.40%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 80 and this increases the risk substantially. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (002128.SZ) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Huolinhe Opencut Coal Ind Corp. Ltd. to open at ¥21.85, and during the day (based on 14 day Average True Range), to move between ¥21.08 and ¥23.16, which gives a possible trading interval of +/-¥1.04 (+/-4.69%) up or down from last closing price. If Huolinhe Opencut Coal Ind Corp. Ltd. takes out the full calculated possible swing range there will be an estimated 9.38% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ¥20.20, some ¥1.92 (8.68%) from the current price of ¥22.12, our system finds the risk reward attractive.
Is Huolinhe Opencut Coal Ind Corp. 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 Huolinhe Opencut Coal Ind Corp. Ltd. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.777 Buy Candidate Upgraded
Predicted Opening Price for Huolinhe Opencut Coal Ind Corp. Ltd. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ¥21.85 ( 1.22%) | ¥22.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002128.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.98 | 3.89 % | |
| R2 | 22.55 | 1.94 % | ||
| R1 | 22.28 | 0.731 % | ||
| Current price: | 22.12 | |||
| Support | S1 | 21.42 | -3.17 % | |
| S2 | 21.15 | -4.38 % | ||
| S3 | 20.72 | -6.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 22.12 | |||
| Support | S1 | 20.20 | -8.68% | |
| S2 | 19.88 | -10.13% | ||
| S3 | 19.83 | -10.35% |
002128 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2023 | May 31, 2023 | May 31, 2023 | ¥0.500 | 3.77% |
| 2 | Jun 23, 2022 | Jun 23, 2022 | Jun 23, 2022 | ¥0.500 | 3.63% |
| 3 | Jul 13, 2021 | Jul 13, 2021 | Jul 13, 2021 | ¥0.400 | 4.00% |
| 4 | Jun 24, 2020 | Jun 24, 2020 | Jun 24, 2020 | ¥0.400 | 5.11% |
| 5 | Oct 25, 2019 | Oct 25, 2019 | Oct 25, 2019 | ¥0.400 | 5.02% |
FAQ
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