Oriental Energy Co., Ltd. Stock Forecast
Stronger technical forecast for Oriental Energy Co., Ltd. stock price after Thursday trading.
(Updated on May 09, 2024)
The Oriental Energy Co., Ltd. stock price gained 0.543% on the last trading day (Thursday, 9th May 2024), rising from ¥9.21 to ¥9.26. During the last trading day the stock fluctuated 2.07% from a day low at ¥9.17 to a day high of ¥9.36. The price has risen in 7 of the last 10 days and is up by 2.66% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 6 million shares were bought and sold for approximately ¥55.76 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 the upper part of a wide and falling 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 ¥9.42 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -9.83% during the next 3 months and, with a 90% probability hold a price between ¥7.69 and ¥8.50 at the end of this 3-month period. 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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002221.SZ Signals & Forecast
The Oriental Energy Co., Ltd. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ¥9.29. On a fall, the stock will find some support from the long-term average at approximately ¥9.21. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 5.35%. 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 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.
Support, Risk & Stop-loss for Oriental Energy Co., Ltd. stock
Oriental Energy Co., Ltd. finds support from accumulated volume at ¥9.17 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ¥0.190 between high and low, or 2.07%. For the last week the stock has had daily average volatility of 2.33%.
Our recommended stop-loss: ¥8.83 (-4.62%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (002221.SZ) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Oriental Energy Co., Ltd. to open at ¥9.26, and during the day (based on 14 day Average True Range), to move between ¥8.99 and ¥9.53, which gives a possible trading interval of +/-¥0.268 (+/-2.90%) up or down from last closing price. If Oriental Energy Co., Ltd. takes out the full calculated possible swing range there will be an estimated 5.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥9.17 (0.97%) than the resistance at ¥9.75 (5.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Oriental Energy Co., Ltd. will release earnings BMO on Friday, May 10, 2024. We will update the financials statements for Oriental Energy Co., Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.21% in the first trading day after earnings release.
Is Oriental Energy Co., Ltd. stock A Buy?
Oriental Energy Co., Ltd. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: 0.952 Hold/Accumulate Upgraded
Predicted Opening Price for Oriental Energy Co., Ltd. of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| ¥9.26 ( 0.0360%) | ¥9.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002221.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.45 | 2.09 % | |
| R2 | 9.38 | 1.30 % | ||
| R1 | 9.34 | 0.82 % | ||
| Current price: | 9.26 | |||
| Support | S1 | 9.19 | -0.748 % | |
| S2 | 9.15 | -1.23 % | ||
| S3 | 9.07 | -2.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.05 | 8.53 % | |
| R2 | 9.90 | 6.91 % | ||
| R1 | 9.75 | 5.29 % | ||
| Current price | 9.26 | |||
| Support | S1 | 9.17 | -0.97% | |
| S2 | 9.15 | -1.19% | ||
| S3 | 9.00 | -2.81% |
002221 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 12, 2022 | Jul 12, 2022 | Jul 12, 2022 | ¥0.217 | 2.57% |
| 2 | Jul 16, 2021 | Jul 16, 2021 | Jul 16, 2021 | ¥0.231 | 2.12% |
| 3 | Jul 20, 2020 | Jul 20, 2020 | Jul 20, 2020 | ¥0.211 | 2.20% |
| 4 | May 30, 2019 | May 30, 2019 | May 30, 2019 | ¥0.0370 | 0.444% |
| 5 | Jun 06, 2018 | Jun 06, 2018 | Jun 06, 2018 | ¥0.0470 | 0.441% |
FAQ
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