Xinjiang Zhundong Petroleum Tech Co Ltd Stock Forecast
Big movements in Xinjiang Zhundong Petroleum Tech Co Ltd stock price on Friday moving 12.71% between high and low
(Updated on Apr 19, 2024)
The Xinjiang Zhundong Petroleum Tech Co Ltd stock price gained 10.04% on the last trading day (Friday, 19th Apr 2024), rising from ¥5.18 to ¥5.70. During the last trading day the stock fluctuated 12.71% from a day low at ¥5.35 to a day high of ¥6.03. The price has been going up and down for this period, and there has been a -14.93% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 million more shares were traded than the day before. In total, 29 million shares were bought and sold for approximately ¥164.21 million.
The stock lies in the middle of a very wide and 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 8.61% during the next 3 months and, with a 90% probability hold a price between ¥4.67 and ¥8.10 at the end of this 3-month period.
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002207.SZ Signals & Forecast
The Xinjiang Zhundong Petroleum Tech 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 ¥5.67 and ¥5.52. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 10.04%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Xinjiang Zhundong Petroleum Tech Co Ltd stock
Xinjiang Zhundong Petroleum Tech Co Ltd finds support from accumulated volume at ¥5.61 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ¥0.680 between high and low, or 12.71%. For the last week, the stock has had daily average volatility of 15.86%.
Our recommended stop-loss: ¥5.48 (-3.94%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (002207.SZ) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Xinjiang Zhundong Petroleum Tech Co Ltd to open at ¥5.69, and during the day (based on 14 day Average True Range), to move between ¥5.05 and ¥6.35, which gives a possible trading interval of +/-¥0.645 (+/-11.32%) up or down from last closing price. If Xinjiang Zhundong Petroleum Tech Co Ltd takes out the full calculated possible swing range there will be an estimated 22.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥5.61 (1.58%) than the resistance at ¥5.97 (4.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Xinjiang Zhundong Petroleum Tech 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 Xinjiang Zhundong Petroleum Tech Co Ltd stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.359 Buy Candidate Upgraded
Predicted Opening Price for Xinjiang Zhundong Petroleum Tech Co Ltd of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| ¥5.69 ( 0.117%) | ¥5.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002207.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.37 | 11.81 % | |
| R2 | 6.11 | 7.26 % | ||
| R1 | 5.95 | 4.44 % | ||
| Current price: | 5.70 | |||
| Support | S1 | 5.43 | -4.67 % | |
| S2 | 5.27 | -7.49 % | ||
| S3 | 5.01 | -12.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.63 | 16.32 % | |
| R2 | 6.45 | 13.16 % | ||
| R1 | 5.97 | 4.74 % | ||
| Current price | 5.70 | |||
| Support | S1 | 5.61 | -1.58% | |
| S2 | 5.23 | -8.25% | ||
| S3 | 5.00 | -12.28% |
002207 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 19, 2015 | May 19, 2015 | May 19, 2015 | ¥0.0100 | 0.0330% |
| 2 | Jun 19, 2014 | Jun 19, 2014 | Jun 19, 2014 | ¥0.0250 | 0.212% |
| 3 | Apr 23, 2013 | Apr 23, 2013 | Apr 23, 2013 | ¥0.0300 | 0.493% |
| 4 | May 22, 2012 | May 22, 2012 | May 22, 2012 | ¥0.0250 | 0.355% |
| 5 | May 15, 2009 | May 15, 2009 | May 15, 2009 | ¥0.100 | 0.94% |
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