Sanquan Food Co Ltd Stock Forecast
Sanquan Food Co Ltd stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on May 29, 2024)
The Sanquan Food Co Ltd stock price fell by -0.485% on the last day (Wednesday, 29th May 2024) from ¥12.38 to ¥12.32. During the last trading day the stock fluctuated 3.84% from a day low at ¥12.23 to a day high of ¥12.70. The price has fallen in 7 of the last 10 days and is down by -5.74% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -507 thousand shares and in total, 3 million shares were bought and sold for approximately ¥32.47 million.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥12.11 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 5.74% during the next 3 months and, with a 90% probability hold a price between ¥12.80 and ¥13.94 at the end of this 3-month period.
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002216.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Sanquan Food Co Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ¥12.73 and ¥12.59. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -6.03%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Sanquan Food Co Ltd stock
Sanquan Food Co Ltd finds support from accumulated volume at ¥12.27 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 ¥0.470 (3.84%) between high and low. For the last week, the stock has had daily average volatility of 2.96%.
Our recommended stop-loss: ¥11.79 (-4.34%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (002216.SZ) For The Upcoming Trading Day Of Thursday 30th
For the upcoming trading day on Thursday, 30th we expect Sanquan Food Co Ltd to open at ¥12.42, and during the day (based on 14 day Average True Range), to move between ¥11.91 and ¥12.73, which gives a possible trading interval of +/-¥0.409 (+/-3.32%) up or down from last closing price. If Sanquan Food Co Ltd takes out the full calculated possible swing range there will be an estimated 6.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥12.27 (0.41%) than the resistance at ¥12.44 (0.97%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sanquan Food Co Ltd stock A Buy?
Sanquan Food Co Ltd holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.101 Hold/Accumulate Upgraded
Predicted Opening Price for Sanquan Food Co Ltd of Thursday, May 30, 2024
| Fair opening price May 30, 2024 | Current price |
|---|---|
| ¥12.42 ( 0.785%) | ¥12.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002216.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.89 | 4.60 % | |
| R2 | 12.71 | 3.14 % | ||
| R1 | 12.60 | 2.24 % | ||
| Current price: | 12.32 | |||
| Support | S1 | 12.24 | -0.673 % | |
| S2 | 12.13 | -1.57 % | ||
| S3 | 11.95 | -3.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.51 | 1.54 % | |
| R2 | 12.45 | 1.06 % | ||
| R1 | 12.44 | 0.97 % | ||
| Current price | 12.32 | |||
| Support | S1 | 12.27 | -0.406% | |
| S2 | 12.23 | -0.731% | ||
| S3 | 12.10 | -1.79% |
002216 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 07, 2023 | Jun 07, 2023 | Jun 07, 2023 | ¥0.350 | 2.25% |
| 2 | May 27, 2022 | May 27, 2022 | May 27, 2022 | ¥0.200 | 1.02% |
| 3 | May 19, 2021 | May 19, 2021 | May 19, 2021 | ¥0.545 | 3.05% |
| 4 | May 28, 2020 | May 28, 2020 | May 28, 2020 | ¥0.0545 | 0.254% |
| 5 | Jun 19, 2019 | Jun 19, 2019 | Jun 19, 2019 | ¥0.0273 | 0.305% |
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