Shanghai SK Petrlm & Chemcl Eqp Corp Ltd Stock Forecast
Red day on Friday for Shanghai SK Petrlm & Chemcl Eqp Corp Ltd stock after losing 0%
(Updated on Apr 26, 2024)
No changes to the price of Shanghai SK Petrlm & Chemcl Eqp Corp Ltd stock on the last trading day (Friday, 26th Apr 2024). During the last trading day the stock fluctuated 4.82% from a day low at ¥4.15 to a day high of ¥4.35. The price has fallen in 6 of the last 10 days and is down by -11.16% for this period.
The stock lies in the middle of a very 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 10.74% during the next 3 months and, with a 90% probability hold a price between ¥4.19 and ¥5.61 at the end of this 3-month period.
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002278.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Shanghai SK Petrlm & Chemcl Eqp Corp 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 ¥4.49 and ¥4.58. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -14.51%. 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 during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.
Support, Risk & Stop-loss for Shanghai SK Petrlm & Chemcl Eqp Corp Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥3.92 and ¥3.63. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Shanghai SK Petrlm & Chemcl Eqp Corp Ltd finds support just below today's level at ¥3.92. If this is broken, then the next support from accumulated volume will be at ¥3.63 and ¥3.35.
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 ¥0.200 between high and low, or 4.82%. For the last week, the stock has had daily average volatility of 12.92%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002278.SZ) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Shanghai SK Petrlm & Chemcl Eqp Corp Ltd to open at ¥4.27, and during the day (based on 14 day Average True Range), to move between ¥3.85 and ¥4.75, which gives a possible trading interval of +/-¥0.447 (+/-10.39%) up or down from last closing price. If Shanghai SK Petrlm & Chemcl Eqp Corp Ltd takes out the full calculated possible swing range there will be an estimated 20.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥4.36 (1.40%) than the support at ¥3.92 (8.84%), 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 Shanghai SK Petrlm & Chemcl Eqp Corp Ltd stock A Buy?
The Shanghai SK Petrlm & Chemcl Eqp Corp Ltd stock holds several negative signals and despite the positive trend, we believe Shanghai SK Petrlm & Chemcl Eqp Corp Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.344 Sell Candidate Unchanged
Predicted Opening Price for Shanghai SK Petrlm & Chemcl Eqp Corp Ltd of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ¥4.27 ( 0.775%) | ¥4.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002278.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.47 | 3.88 % | |
| R2 | 4.39 | 2.10 % | ||
| R1 | 4.34 | 1.00 % | ||
| Current price: | 4.30 | |||
| Support | S1 | 4.19 | -2.55 % | |
| S2 | 4.14 | -3.65 % | ||
| S3 | 4.07 | -5.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.03 | 16.98 % | |
| R2 | 4.69 | 9.07 % | ||
| R1 | 4.36 | 1.40 % | ||
| Current price | 4.30 | |||
| Support | S1 | 3.92 | -8.84% | |
| S2 | 3.63 | -15.58% | ||
| S3 | 3.35 | -22.09% |
002278 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 01, 2022 | Aug 01, 2022 | Aug 01, 2022 | ¥0.0500 | 0.93% |
| 2 | Jun 25, 2021 | Jun 25, 2021 | Jun 25, 2021 | ¥0.0500 | 0.85% |
| 3 | Jul 01, 2020 | Jul 01, 2020 | Jul 01, 2020 | ¥0.0500 | 0.91% |
| 4 | May 31, 2019 | May 31, 2019 | May 31, 2019 | ¥0.0500 | 0.703% |
| 5 | May 26, 2015 | May 26, 2015 | May 26, 2015 | ¥0.0870 | 0.483% |
FAQ
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