North Chemical Industries Co., Ltd. Stock Forecast
North Chemical Industries Co., Ltd. stock price ended at ¥8.63 on Wednesday, after losing 0.116%.
(Updated on Jun 26, 2024)
The North Chemical Industries Co., Ltd. stock price fell by -0.116% on the last day (Wednesday, 26th Jun 2024) from ¥8.64 to ¥8.63. During the last trading day the stock fluctuated 7.60% from a day low at ¥8.42 to a day high of ¥9.06. The price has fallen in 7 of the last 10 days and is down by -10.66% for this period. 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 -1 million shares and in total, 16 million shares were bought and sold for approximately ¥134.20 million.
Given the current short-term trend, the stock is expected to rise 20.74% during the next 3 months and, with a 90% probability hold a price between ¥10.42 and ¥15.10 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
002246.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The North Chemical Industries 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 ¥9.75. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -26.86%. 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 North Chemical Industries Co., Ltd. stock
North Chemical Industries Co., Ltd. finds support from accumulated volume at ¥8.32 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ¥0.640 between high and low, or 7.60%. For the last week, the stock has had daily average volatility of 7.36%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002246.SZ) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect North Chemical Industries Co., Ltd. to open at ¥8.70, and during the day (based on 14 day Average True Range), to move between ¥7.75 and ¥9.51, which gives a possible trading interval of +/-¥0.88 (+/-10.14%) up or down from last closing price. If North Chemical Industries Co., Ltd. takes out the full calculated possible swing range there will be an estimated 20.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥8.32 (3.59%) than the resistance at ¥10.26 (18.89%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is North Chemical Industries Co., Ltd. stock A Buy?
The North Chemical Industries Co., Ltd. stock holds several negative signals and despite the positive trend, we believe North Chemical Industries Co., Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.435 Sell Candidate Unchanged
Predicted Opening Price for North Chemical Industries Co., Ltd. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ¥8.70 ( 0.85%) | ¥8.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002246.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 9.34 | 8.27% |
| R2 | 9.10 | 5.43% |
| R1 | 8.95 | 3.68% |
| Price | 8.63 | |
| S1 | 8.46 | -1.98% |
| S2 | 8.31 | -3.73% |
| S3 | 8.06 | -6.57% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.62 | 23.06% |
| R2 | 10.51 | 21.78% |
| R1 | 10.26 | 18.89% |
| Price | 8.63 | |
| S1 | 8.32 | -3.59% |
| S2 | 8.31 | -3.71% |
| S3 | 8.15 | -5.56% |
002246 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 11, 2023 | Jul 11, 2023 | Jul 11, 2023 | ¥0.0500 | 0.522% |
| 2 | Jul 13, 2022 | Jul 13, 2022 | Jul 13, 2022 | ¥0.0450 | 0.533% |
| 3 | Jul 09, 2021 | Jul 09, 2021 | Jul 09, 2021 | ¥0.0400 | 0.556% |
| 4 | Jun 08, 2020 | Jun 08, 2020 | Jun 08, 2020 | ¥0.0550 | 0.733% |
| 5 | Jul 05, 2019 | Jul 05, 2019 | Jul 05, 2019 | ¥0.0550 | 0.630% |
FAQ
Click here for our free guide on how to buy North Chemical Industries Co., Ltd. Stock.
