Hefei Urban Construction Devel Co. Ltd Stock Forecast
Hefei Urban Construction Devel Co. Ltd stock upgraded to Buy Candidate.
(Updated on May 21, 2024)
The Hefei Urban Construction Devel Co. Ltd stock price gained 4.47% on the last trading day (Tuesday, 21st May 2024), rising from ¥5.82 to ¥6.08. During the last trading day the stock fluctuated 8.65% from a day low at ¥5.78 to a day high of ¥6.28. The price has risen in 7 of the last 10 days and is up by 21.12% over the past 2 weeks. Volume fell on the last day by -4 million shares and in total, 63 million shares were bought and sold for approximately ¥383.17 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 stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ¥6.16 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Hefei Urban Construction Devel Co. Ltd stock with a 90% probability to be traded between ¥4.45 and ¥6.04 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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002208.SZ Signals & Forecast
The Hefei Urban Construction Devel 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 ¥5.55 and ¥5.09. 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). 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. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -1.30%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Hefei Urban Construction Devel Co. Ltd stock
Hefei Urban Construction Devel Co. Ltd finds support from accumulated volume at ¥5.82 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 ¥0.500 between high and low, or 8.65%. For the last week, the stock has had daily average volatility of 10.02%.
The Hefei Urban Construction Devel Co. 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. 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: ¥5.90 (-3.03%) (This stock has high daily movements and this gives high risk. The RSI14 is 76 and this increases the risk substantially. There is a sell signal from a pivot top found 22 days ago.)
Trading Expectations (002208.SZ) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Hefei Urban Construction Devel Co. Ltd to open at ¥6.05, and during the day (based on 14 day Average True Range), to move between ¥5.75 and ¥6.41, which gives a possible trading interval of +/-¥0.329 (+/-5.41%) up or down from last closing price. If Hefei Urban Construction Devel Co. Ltd takes out the full calculated possible swing range there will be an estimated 10.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥6.16 (1.32%) than the support at ¥5.82 (4.28%), 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 Hefei Urban Construction Devel Co. Ltd stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Hefei Urban Construction Devel Co. Ltd stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.416 Buy Candidate Upgraded
Predicted Opening Price for Hefei Urban Construction Devel Co. Ltd of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| ¥6.05 ( 0.548%) | ¥6.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002208.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.55 | 7.68 % | |
| R2 | 6.36 | 4.53 % | ||
| R1 | 6.24 | 2.59 % | ||
| Current price: | 6.08 | |||
| Support | S1 | 5.86 | -3.69 % | |
| S2 | 5.74 | -5.63 % | ||
| S3 | 5.55 | -8.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 6.16 | 1.32 % | ||
| Current price | 6.08 | |||
| Support | S1 | 5.82 | -4.28% | |
| S2 | 5.60 | -7.89% | ||
| S3 | 5.09 | -16.28% |
002208 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 25, 2023 | Jul 25, 2023 | Jul 25, 2023 | ¥0.0500 | 0.716% |
| 2 | Jul 22, 2022 | Jul 22, 2022 | Jul 22, 2022 | ¥0.100 | 1.29% |
| 3 | Jul 21, 2021 | Jul 21, 2021 | Jul 21, 2021 | ¥0.100 | 1.24% |
| 4 | Jun 24, 2020 | Jun 24, 2020 | Jun 24, 2020 | ¥0.0370 | 0.365% |
| 5 | May 14, 2019 | May 14, 2019 | May 14, 2019 | ¥0.0769 | 0.92% |
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