Oriental Energy Co., Ltd. Stock Forecast
Red day on Friday for Oriental Energy Co., Ltd.
(Updated on May 31, 2024)
The Oriental Energy Co., Ltd. stock price fell by -0.221% on the last day (Friday, 31st May 2024) from ¥9.06 to ¥9.04. During the last trading day the stock fluctuated 0.89% from a day low at ¥9.01 to a day high of ¥9.09. The price has been going up and down for this period, and there has been a 0.33% gain for the last 2 weeks. 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 -768 thousand shares and in total, 3 million shares were bought and sold for approximately ¥26.87 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.01% during the next 3 months and, with a 90% probability hold a price between ¥8.11 and ¥9.05 at the end of this 3-month period.
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002221.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Oriental Energy Co., Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ¥9.15 and ¥9.16. 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 -5.83%. 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 Oriental Energy Co., Ltd. stock
Oriental Energy Co., Ltd. finds support from accumulated volume at ¥9.01 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 ¥0.0800 between high and low, or 0.89%. For the last week the stock has had daily average volatility of 2.86%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002221.SZ) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Oriental Energy Co., Ltd. to open at ¥9.05, and during the day (based on 14 day Average True Range), to move between ¥8.72 and ¥9.36, which gives a possible trading interval of +/-¥0.321 (+/-3.55%) 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 7.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥9.01 (0.33%) than the resistance at ¥9.15 (1.22%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Oriental Energy Co., Ltd. stock A Buy?
Oriental Energy Co., Ltd. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.598 Sell Candidate Unchanged
Predicted Opening Price for Oriental Energy Co., Ltd. of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| ¥9.05 ( 0.0737%) | ¥9.04 |
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 | 9.13 | 0.96 % | |
| R2 | 9.10 | 0.621 % | ||
| R1 | 9.08 | 0.412 % | ||
| Current price: | 9.04 | |||
| Support | S1 | 9.02 | -0.264 % | |
| S2 | 9.00 | -0.473 % | ||
| S3 | 8.97 | -0.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.60 | 6.19 % | |
| R2 | 9.17 | 1.44 % | ||
| R1 | 9.15 | 1.22 % | ||
| Current price | 9.04 | |||
| Support | S1 | 9.01 | -0.332% | |
| S2 | 9.00 | -0.442% | ||
| S3 | 8.90 | -1.55% |
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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