Haining China Leather Market Co.,Ltd Stock Forecast
Haining China Leather Market Co.,Ltd stock upgraded from Sell Candidate to Buy Candidate after Monday trading session.
(Updated on May 06, 2024)
The Haining China Leather Market Co.,Ltd stock price gained 1.09% on the last trading day (Monday, 6th May 2024), rising from ¥3.66 to ¥3.70. During the last trading day the stock fluctuated 2.74% from a day low at ¥3.65 to a day high of ¥3.75. The price has risen in 6 of the last 10 days and is up by 6.63% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 12 thousand more shares were traded than the day before. In total, 9 million shares were bought and sold for approximately ¥32.70 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 Haining China Leather Market Co.,Ltd stock with a 90% probability to be traded between ¥3.37 and ¥3.90 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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002344.SZ Signals & Forecast
The Haining China Leather Market 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 ¥3.55 and ¥3.62. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 12.46%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Haining China Leather Market Co.,Ltd stock
Haining China Leather Market Co.,Ltd finds support from accumulated volume at ¥3.64 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 ¥0.100 between high and low, or 2.74%. For the last week, the stock has had daily average volatility of 4.44%.
Our recommended stop-loss: ¥3.55 (-3.98%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (002344.SZ) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Haining China Leather Market Co.,Ltd to open at ¥3.70, and during the day (based on 14 day Average True Range), to move between ¥3.54 and ¥3.86, which gives a possible trading interval of +/-¥0.155 (+/-4.20%) up or down from last closing price. If Haining China Leather Market Co.,Ltd takes out the full calculated possible swing range there will be an estimated 8.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥3.72 (0.54%) than the support at ¥3.64 (1.62%), 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.
Earnings coming up
Haining China Leather Market Co.,Ltd will release earnings BMO on Wednesday, May 08, 2024. We will update the financials statements for Haining China Leather Market Co.,Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.87% in the first trading day after earnings release.
Is Haining China Leather Market Co.,Ltd stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Haining China Leather Market Co.,Ltd stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.305 Buy Candidate Upgraded
Predicted Opening Price for Haining China Leather Market Co.,Ltd of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| ¥3.70 ( 0.00000000%) | ¥3.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002344.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.80 | 2.70 % | |
| R2 | 3.76 | 1.67 % | ||
| R1 | 3.74 | 1.03 % | ||
| Current price: | 3.70 | |||
| Support | S1 | 3.66 | -1.03 % | |
| S2 | 3.64 | -1.67 % | ||
| S3 | 3.60 | -2.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.78 | 2.16 % | |
| R2 | 3.73 | 0.81 % | ||
| R1 | 3.72 | 0.541 % | ||
| Current price | 3.70 | |||
| Support | S1 | 3.64 | -1.62% | |
| S2 | 3.51 | -5.14% | ||
| S3 | 3.42 | -7.57% |
002344 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 17, 2022 | Jun 17, 2022 | Jun 17, 2022 | ¥0.0300 | 0.671% |
| 2 | May 28, 2021 | May 28, 2021 | May 28, 2021 | ¥0.0190 | 0.459% |
| 3 | Jun 11, 2020 | Jun 11, 2020 | Jun 11, 2020 | ¥0.0190 | 0.433% |
| 4 | Jun 21, 2019 | Jun 21, 2019 | Jun 21, 2019 | ¥0.0210 | 0.439% |
| 5 | Jun 15, 2018 | Jun 15, 2018 | Jun 15, 2018 | ¥0.120 | 2.34% |
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