Anhui Jiangnan Chemical Industry Co.,Ltd Stock Forecast
Anhui Jiangnan Chemical Industry Co.,Ltd stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Apr 30, 2024)
The Anhui Jiangnan Chemical Industry Co.,Ltd stock price gained 0.424% on the last trading day (Tuesday, 30th Apr 2024), rising from ¥4.72 to ¥4.74. During the last trading day the stock fluctuated 1.49% from a day low at ¥4.69 to a day high of ¥4.76. The price has risen in 6 of the last 10 days and is up by 6.52% over the past 2 weeks. Volume fell on the last day by -11 million shares and in total, 19 million shares were bought and sold for approximately ¥89.87 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 in the middle of a wide and strong 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 14.94% during the next 3 months and, with a 90% probability hold a price between ¥5.02 and ¥5.56 at the end of this 3-month period.
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002226.SZ Signals & Forecast
The Anhui Jiangnan Chemical Industry 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 ¥4.74 and ¥4.65. 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, April 26, 2024, and so far it has fallen -1.25%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Anhui Jiangnan Chemical Industry Co.,Ltd stock
Anhui Jiangnan Chemical Industry Co.,Ltd finds support from accumulated volume at ¥4.72 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 ¥0.0700 between high and low, or 1.49%. For the last week the stock has had daily average volatility of 2.89%.
Our recommended stop-loss: ¥4.56 (-3.85%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (002226.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Anhui Jiangnan Chemical Industry Co.,Ltd to open at ¥4.73, and during the day (based on 14 day Average True Range), to move between ¥4.60 and ¥4.88, which gives a possible trading interval of +/-¥0.141 (+/-2.97%) up or down from last closing price. If Anhui Jiangnan Chemical Industry Co.,Ltd takes out the full calculated possible swing range there will be an estimated 5.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥4.72 (0.42%) than the resistance at ¥4.77 (0.63%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Anhui Jiangnan Chemical Industry 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 Anhui Jiangnan Chemical Industry 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 Hold/Accumulate to a Buy candidate.
Current score: 3.867 Buy Candidate Upgraded
Predicted Opening Price for Anhui Jiangnan Chemical Industry Co.,Ltd of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥4.73 ( 0.211%) | ¥4.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002226.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.80 | 1.27 % | |
| R2 | 4.77 | 0.702 % | ||
| R1 | 4.76 | 0.353 % | ||
| Current price: | 4.74 | |||
| Support | S1 | 4.70 | -0.775 % | |
| S2 | 4.69 | -1.12 % | ||
| S3 | 4.66 | -1.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 4.80 | 1.27 % | ||
| R1 | 4.77 | 0.633 % | ||
| Current price | 4.74 | |||
| Support | S1 | 4.72 | -0.422% | |
| S2 | 4.65 | -1.90% | ||
| S3 | 4.63 | -2.32% |
002226 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2023 | Jun 14, 2023 | Jun 14, 2023 | ¥0.0600 | 1.18% |
| 2 | Jun 16, 2022 | Jun 16, 2022 | Jun 16, 2022 | ¥0.0600 | 1.13% |
| 3 | May 25, 2021 | May 25, 2021 | May 25, 2021 | ¥0.0393 | 0.789% |
| 4 | Jul 14, 2020 | Jul 14, 2020 | Jul 14, 2020 | ¥0.0357 | 0.746% |
| 5 | Apr 27, 2018 | Apr 27, 2018 | Apr 27, 2018 | ¥0.0464 | 1.20% |
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