Shandong Humon Smelting Co., Ltd. Stock Forecast
Shandong Humon Smelting Co., Ltd. stock upgraded to Buy Candidate.
(Updated on May 31, 2024)
The Shandong Humon Smelting Co., Ltd. stock price fell by -1.57% on the last day (Friday, 31st May 2024) from ¥12.71 to ¥12.51. During the last trading day the stock fluctuated 3.38% from a day low at ¥12.41 to a day high of ¥12.83. The price has been going up and down for this period, and there has been a -1.96% loss 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 -3 million shares and in total, 18 million shares were bought and sold for approximately ¥228.02 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥12.21 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 26.80% during the next 3 months and, with a 90% probability hold a price between ¥15.49 and ¥17.89 at the end of this 3-month period.
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002237.SZ Signals & Forecast
The Shandong Humon Smelting 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 ¥12.79. On a fall, the stock will find some support from the long-term average at approximately ¥12.43. 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. 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 Monday, May 20, 2024, and so far it has fallen -8.69%. 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 Shandong Humon Smelting Co., Ltd. stock
Shandong Humon Smelting Co., Ltd. finds support from accumulated volume at ¥12.50 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 ¥0.420 between high and low, or 3.38%. For the last week, the stock has had daily average volatility of 4.65%.
Our recommended stop-loss: ¥11.91 (-4.83%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 24 days ago.)
Trading Expectations (002237.SZ) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Shandong Humon Smelting Co., Ltd. to open at ¥12.58, and during the day (based on 14 day Average True Range), to move between ¥11.81 and ¥13.21, which gives a possible trading interval of +/-¥0.698 (+/-5.58%) up or down from last closing price. If Shandong Humon Smelting Co., Ltd. takes out the full calculated possible swing range there will be an estimated 11.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥12.50 (0.08%) than the resistance at ¥12.59 (0.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Shandong Humon Smelting 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 Shandong Humon Smelting 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: 2.269 Buy Candidate Upgraded
Predicted Opening Price for Shandong Humon Smelting Co., Ltd. of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| ¥12.58 ( 0.586%) | ¥12.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002237.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.00 | 3.94 % | |
| R2 | 12.84 | 2.66 % | ||
| R1 | 12.74 | 1.87 % | ||
| Current price: | 12.51 | |||
| Support | S1 | 12.42 | -0.696 % | |
| S2 | 12.32 | -1.49 % | ||
| S3 | 12.16 | -2.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.11 | 4.80 % | |
| R2 | 12.76 | 2.00 % | ||
| R1 | 12.59 | 0.639 % | ||
| Current price | 12.51 | |||
| Support | S1 | 12.50 | -0.0799% | |
| S2 | 12.18 | -2.64% | ||
| S3 | 11.35 | -9.27% |
002237 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 20, 2022 | May 20, 2022 | May 20, 2022 | ¥0.0400 | 0.430% |
| 2 | May 19, 2021 | May 19, 2021 | May 19, 2021 | ¥0.0750 | 0.593% |
| 3 | May 26, 2020 | May 26, 2020 | May 26, 2020 | ¥0.0300 | 0.217% |
| 4 | Jul 05, 2018 | Jul 05, 2018 | Jul 05, 2018 | ¥0.100 | 1.07% |
| 5 | Apr 16, 2015 | Apr 16, 2015 | Apr 16, 2015 | ¥0.100 | 0.732% |
FAQ
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