JIANGSU HUACHANG CHEMICAL CO., LTD Stock Forecast
JIANGSU HUACHANG CHEMICAL CO., LTD stock upgraded to Strong Buy Candidate.
(Updated on May 17, 2024)
The JIANGSU HUACHANG CHEMICAL CO., LTD stock price gained 1.32% on the last trading day (Friday, 17th May 2024), rising from ¥8.34 to ¥8.45. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.92% from a day low at ¥8.22 to a day high of ¥8.46. The price has risen in 5 of the last 10 days and is up by 2.55% over the past 2 weeks. Volume fell on the last day by -651 thousand shares and in total, 16 million shares were bought and sold for approximately ¥136.20 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 12.05% during the next 3 months and, with a 90% probability hold a price between ¥8.58 and ¥9.78 at the end of this 3-month period.
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002274.SZ Signals & Forecast
The JIANGSU HUACHANG CHEMICAL 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 ¥8.36 and ¥8.01. 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 Tuesday, May 07, 2024, and so far it has fallen -1.74%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for JIANGSU HUACHANG CHEMICAL CO., LTD stock
JIANGSU HUACHANG CHEMICAL CO., LTD finds support from accumulated volume at ¥8.14 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 ¥0.240 between high and low, or 2.92%. For the last week, the stock has had daily average volatility of 2.40%.
Our recommended stop-loss: ¥8.17 (-3.32%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 80 and this increases the risk substantially. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (002274.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect JIANGSU HUACHANG CHEMICAL CO., LTD to open at ¥8.38, and during the day (based on 14 day Average True Range), to move between ¥8.12 and ¥8.78, which gives a possible trading interval of +/-¥0.331 (+/-3.92%) up or down from last closing price. If JIANGSU HUACHANG CHEMICAL CO., LTD takes out the full calculated possible swing range there will be an estimated 7.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥8.53 (0.95%) than the support at ¥8.14 (3.67%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is JIANGSU HUACHANG CHEMICAL CO., LTD stock A Buy?
JIANGSU HUACHANG CHEMICAL CO., LTD holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". 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: 5.277 Strong Buy Candidate Upgraded
Predicted Opening Price for JIANGSU HUACHANG CHEMICAL CO., LTD of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥8.38 ( 0.87%) | ¥8.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002274.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.62 | 1.97 % | |
| R2 | 8.52 | 0.89 % | ||
| R1 | 8.47 | 0.217 % | ||
| Current price: | 8.45 | |||
| Support | S1 | 8.28 | -1.95 % | |
| S2 | 8.23 | -2.62 % | ||
| S3 | 8.14 | -3.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 8.60 | 1.78 % | ||
| R1 | 8.53 | 0.95 % | ||
| Current price | 8.45 | |||
| Support | S1 | 8.14 | -3.67% | |
| S2 | 7.77 | -8.05% | ||
| S3 | 7.68 | -9.11% |
002274 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2023 | May 30, 2023 | May 30, 2023 | ¥0.300 | 4.19% |
| 2 | May 26, 2022 | May 26, 2022 | May 26, 2022 | ¥0.300 | 3.37% |
| 3 | Jun 04, 2021 | Jun 04, 2021 | Jun 04, 2021 | ¥0.100 | 1.17% |
| 4 | Jun 19, 2020 | Jun 19, 2020 | Jun 19, 2020 | ¥0.100 | 2.04% |
| 5 | Jun 10, 2019 | Jun 10, 2019 | Jun 10, 2019 | ¥0.150 | 2.23% |
FAQ
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