HENAN SENYUAN ELECTRIC CO.,LTD. Stock Forecast
Stronger technical forecast for HENAN SENYUAN ELECTRIC CO.,LTD. stock price after Tuesday trading.
(Updated on Apr 30, 2024)
The HENAN SENYUAN ELECTRIC CO.,LTD. stock price gained 0.261% on the last trading day (Tuesday, 30th Apr 2024), rising from ¥3.83 to ¥3.84. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 1.57% from a day low at ¥3.81 to a day high of ¥3.87. The price has risen in 7 of the last 10 days and is up by 16.36% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 14 million shares were bought and sold for approximately ¥53.10 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 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 13.90% during the next 3 months and, with a 90% probability hold a price between ¥3.78 and ¥5.01 at the end of this 3-month period.
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002358.SZ Signals & Forecast
The HENAN SENYUAN ELECTRIC 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 ¥3.67 and ¥3.82. 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 16.36%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for HENAN SENYUAN ELECTRIC CO.,LTD. stock
HENAN SENYUAN ELECTRIC CO.,LTD. finds support from accumulated volume at ¥3.83 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 ¥0.0600 between high and low, or 1.57%. For the last week, the stock has had daily average volatility of 4.61%.
Since the HENAN SENYUAN ELECTRIC CO.,LTD. has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: ¥3.71 (-3.50%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (002358.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect HENAN SENYUAN ELECTRIC CO.,LTD. to open at ¥3.84, and during the day (based on 14 day Average True Range), to move between ¥3.61 and ¥4.07, which gives a possible trading interval of +/-¥0.229 (+/-5.98%) up or down from last closing price. If HENAN SENYUAN ELECTRIC CO.,LTD. takes out the full calculated possible swing range there will be an estimated 11.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥3.83 (0.26%) than the resistance at ¥3.90 (1.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is HENAN SENYUAN ELECTRIC CO.,LTD. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for HENAN SENYUAN ELECTRIC CO.,LTD. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.633 Buy Candidate Upgraded
Predicted Opening Price for HENAN SENYUAN ELECTRIC CO.,LTD. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥3.84 ( 0%) | ¥3.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002358.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.90 | 1.56 % | |
| R2 | 3.88 | 0.97 % | ||
| R1 | 3.86 | 0.597 % | ||
| Current price: | 3.84 | |||
| Support | S1 | 3.82 | -0.597 % | |
| S2 | 3.80 | -0.97 % | ||
| S3 | 3.78 | -1.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.08 | 6.25 % | |
| R2 | 4.01 | 4.43 % | ||
| R1 | 3.90 | 1.56 % | ||
| Current price | 3.84 | |||
| Support | S1 | 3.83 | -0.260% | |
| S2 | 3.81 | -0.781% | ||
| S3 | 3.48 | -9.38% |
002358 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 05, 2019 | Jul 05, 2019 | Jul 05, 2019 | ¥0.100 | 1.01% |
| 2 | Jun 13, 2018 | Jun 13, 2018 | Jun 13, 2018 | ¥0.140 | 0.87% |
| 3 | Jun 26, 2017 | Jun 26, 2017 | Jun 26, 2017 | ¥0.0900 | 0.539% |
| 4 | Nov 18, 2016 | Nov 18, 2016 | Nov 18, 2016 | ¥0.0800 | 0.379% |
| 5 | Jun 15, 2015 | Jun 15, 2015 | Jun 15, 2015 | ¥0.115 | 0.382% |
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