Shanghai Xinpeng Industry Co Ltd Stock Forecast
Shanghai Xinpeng Industry Co Ltd stock downgraded from Buy Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on May 07, 2024)
The Shanghai Xinpeng Industry Co Ltd stock price fell by -0.388% on the last day (Tuesday, 7th May 2024) from ¥5.16 to ¥5.14. During the last trading day the stock fluctuated 2.58% from a day low at ¥5.03 to a day high of ¥5.16. The price has risen in 5 of the last 10 days and is up by 1.38% over the past 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, 6 million shares were bought and sold for approximately ¥30.14 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Shanghai Xinpeng Industry Co Ltd stock with a 90% probability to be traded between ¥4.75 and ¥5.49 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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002328.SZ Signals & Forecast
The Shanghai Xinpeng Industry Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥4.99 and ¥5.07. 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). 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 06, 2024, and so far it has fallen -0.388%. Further fall is indicated until a new bottom pivot has been found. 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 Shanghai Xinpeng Industry Co Ltd stock
Shanghai Xinpeng Industry Co Ltd finds support from accumulated volume at ¥5.13 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 ¥0.130 between high and low, or 2.58%. For the last week, the stock has had daily average volatility of 3.96%.
Our recommended stop-loss: ¥4.93 (-4.13%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (002328.SZ) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Shanghai Xinpeng Industry Co Ltd to open at ¥5.11, and during the day (based on 14 day Average True Range), to move between ¥4.94 and ¥5.34, which gives a possible trading interval of +/-¥0.203 (+/-3.95%) up or down from last closing price. If Shanghai Xinpeng Industry Co Ltd takes out the full calculated possible swing range there will be an estimated 7.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥5.13 (0.19%) than the resistance at ¥5.16 (0.39%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Shanghai Xinpeng Industry Co Ltd stock A Buy?
Shanghai Xinpeng Industry Co Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.356 Hold/Accumulate Downgraded
Predicted Opening Price for Shanghai Xinpeng Industry Co Ltd of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| ¥5.11 ( 0.584%) | ¥5.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002328.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.24 | 1.95 % | |
| R2 | 5.19 | 0.98 % | ||
| R1 | 5.16 | 0.382 % | ||
| Current price: | 5.14 | |||
| Support | S1 | 5.06 | -1.55 % | |
| S2 | 5.03 | -2.15 % | ||
| S3 | 4.98 | -3.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.33 | 3.70 % | |
| R2 | 5.19 | 0.97 % | ||
| R1 | 5.16 | 0.389 % | ||
| Current price | 5.14 | |||
| Support | S1 | 5.13 | -0.195% | |
| S2 | 5.07 | -1.36% | ||
| S3 | 4.81 | -6.42% |
002328 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2023 | May 30, 2023 | May 30, 2023 | ¥0.130 | 2.22% |
| 2 | May 27, 2022 | May 27, 2022 | May 27, 2022 | ¥0.130 | 2.40% |
| 3 | May 27, 2021 | May 27, 2021 | May 27, 2021 | ¥0.130 | 2.91% |
| 4 | May 27, 2020 | May 27, 2020 | May 27, 2020 | ¥0.130 | 2.59% |
| 5 | Jun 12, 2019 | Jun 12, 2019 | Jun 12, 2019 | ¥0.0659 | 1.43% |
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