Shanghai SK Petrlm & Chemcl Eqp Corp Ltd Stock Forecast
Shanghai SK Petrlm & Chemcl Eqp Corp Ltd stock price ended at ¥4.48 on Wednesday, after losing 1.97%.
(Updated on May 08, 2024)
The Shanghai SK Petrlm & Chemcl Eqp Corp Ltd stock price fell by -1.97% on the last day (Wednesday, 8th May 2024) from ¥4.57 to ¥4.48. During the last trading day the stock fluctuated 4.10% from a day low at ¥4.39 to a day high of ¥4.57. The price has been going up and down for this period, and there has been a -1.97% loss for the last 2 weeks. Volume has increased on the last day by 427 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 12 million shares were bought and sold for approximately ¥54.85 million.
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 10.94% during the next 3 months and, with a 90% probability hold a price between ¥4.49 and ¥5.75 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.
002278.SZ Signals & Forecast
There are mixed signals in the stock today. The Shanghai SK Petrlm & Chemcl Eqp Corp Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ¥4.60. On a fall, the stock will find some support from the short-term average at ¥4.44. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -10.93%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Shanghai SK Petrlm & Chemcl Eqp Corp Ltd stock
Shanghai SK Petrlm & Chemcl Eqp Corp Ltd finds support from accumulated volume at ¥4.37 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 ¥0.180 between high and low, or 4.10%. For the last week, the stock has had daily average volatility of 5.03%.
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 Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Shanghai SK Petrlm & Chemcl Eqp Corp Ltd to open at ¥4.48, and during the day (based on 14 day Average True Range), to move between ¥4.11 and ¥4.85, which gives a possible trading interval of +/-¥0.373 (+/-8.33%) 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 16.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥4.57 (2.01%) than the support at ¥4.37 (2.46%), 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?
Shanghai SK Petrlm & Chemcl Eqp Corp Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.213 Sell Candidate Unchanged
Predicted Opening Price for Shanghai SK Petrlm & Chemcl Eqp Corp Ltd of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| ¥4.48 ( 0%) | ¥4.48 |
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 | 4.66 | 4.02 % | |
| R2 | 4.59 | 2.48 % | ||
| R1 | 4.55 | 1.53 % | ||
| Current price: | 4.48 | |||
| Support | S1 | 4.41 | -1.53 % | |
| S2 | 4.37 | -2.48 % | ||
| S3 | 4.30 | -4.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.03 | 12.28 % | |
| R2 | 4.69 | 4.69 % | ||
| R1 | 4.57 | 2.01 % | ||
| Current price | 4.48 | |||
| Support | S1 | 4.37 | -2.46% | |
| S2 | 4.36 | -2.68% | ||
| S3 | 4.30 | -4.02% |
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
Click here for our free guide on how to buy Shanghai SK Petrlm & Chemcl Eqp Corp Ltd Stock.
