Xiamen Hexing Packaging Printing Co Ltd Stock Forecast
Xiamen Hexing Packaging Printing Co Ltd stock upgraded from Buy Candidate to Strong Buy Candidate after Friday trading session.
(Updated on May 17, 2024)
The Xiamen Hexing Packaging Printing Co Ltd stock price gained 1.76% on the last trading day (Friday, 17th May 2024), rising from ¥2.84 to ¥2.89. During the last trading day the stock fluctuated 2.12% from a day low at ¥2.83 to a day high of ¥2.89. The price has risen in 6 of the last 10 days and is up by 4.33% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 10 million shares were bought and sold for approximately ¥28.19 million.
The stock has broken the wide and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ¥2.89, a level that may pose a second chance to hit a runner. According to fan-theory ¥3.31 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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002228.SZ Signals & Forecast
Mostly positive signals in the chart today. The Xiamen Hexing Packaging Printing 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 ¥2.83 and ¥2.73. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 18.44%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Xiamen Hexing Packaging Printing Co Ltd stock
Xiamen Hexing Packaging Printing Co Ltd finds support from accumulated volume at ¥2.85 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ¥0.0600 between high and low, or 2.12%. For the last week, the stock has had daily average volatility of 2.00%.
The Xiamen Hexing Packaging Printing Co Ltd stock is extremely overbought on RSI14 (77). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: ¥2.73 (-5.46%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (002228.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Xiamen Hexing Packaging Printing Co Ltd to open at ¥2.87, and during the day (based on 14 day Average True Range), to move between ¥2.78 and ¥3.00, which gives a possible trading interval of +/-¥0.108 (+/-3.73%) up or down from last closing price. If Xiamen Hexing Packaging Printing Co Ltd takes out the full calculated possible swing range there will be an estimated 7.46% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ¥2.85, some ¥0.0400 (1.38%) from the current price of ¥2.89, our system finds the risk reward attractive.
Is Xiamen Hexing Packaging Printing Co Ltd stock A Buy?
Xiamen Hexing Packaging Printing Co Ltd holds several positive signals and has broken the weak rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.452 Strong Buy Candidate Upgraded
Predicted Opening Price for Xiamen Hexing Packaging Printing Co Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥2.87 ( 0.692%) | ¥2.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002228.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.93 | 1.38 % | |
| R2 | 2.91 | 0.591 % | ||
| R1 | 2.89 | 0.101 % | ||
| Current price: | 2.89 | |||
| Support | S1 | 2.85 | -1.49 % | |
| S2 | 2.83 | -1.98 % | ||
| S3 | 2.81 | -2.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 2.89 | |||
| Support | S1 | 2.85 | -1.38% | |
| S2 | 2.80 | -3.11% | ||
| S3 | 2.77 | -4.15% |
002228 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 14, 2023 | Jul 14, 2023 | Jul 14, 2023 | ¥0.120 | 3.76% |
| 2 | Jul 08, 2022 | Jul 08, 2022 | Jul 08, 2022 | ¥0.150 | 4.36% |
| 3 | Jul 09, 2021 | Jul 09, 2021 | Jul 09, 2021 | ¥0.100 | 2.79% |
| 4 | Jun 04, 2020 | Jun 04, 2020 | Jun 04, 2020 | ¥0.100 | 2.53% |
| 5 | May 28, 2019 | May 28, 2019 | May 28, 2019 | ¥0.0500 | 0.97% |
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