Anhui Shenjian New Materials Co.,LTD. Stock Forecast
Green day on Thursday for Anhui Shenjian New Materials Co.,LTD. stock after gaining 0.545%
(Updated on May 09, 2024)
The Anhui Shenjian New Materials Co.,LTD. stock price gained 0.545% on the last trading day (Thursday, 9th May 2024), rising from ¥3.67 to ¥3.69. During the last trading day the stock fluctuated 8.43% from a day low at ¥3.44 to a day high of ¥3.73. The price has risen in 7 of the last 10 days and is up by 14.24% over the past 2 weeks. Volume fell on the last day by -431 thousand shares and in total, 25 million shares were bought and sold for approximately ¥92.45 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 16.47% during the next 3 months and, with a 90% probability hold a price between ¥3.59 and ¥5.03 at the end of this 3-month period.
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002361.SZ Signals & Forecast
The Anhui Shenjian New Materials Co.,LTD. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ¥3.54 and ¥3.46. 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). 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. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -0.270%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Anhui Shenjian New Materials Co.,LTD. stock
Anhui Shenjian New Materials Co.,LTD. finds support from accumulated volume at ¥3.67 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 ¥0.290 between high and low, or 8.43%. For the last week, the stock has had daily average volatility of 6.95%.
The Anhui Shenjian New Materials Co.,LTD. stock is extremely overbought on RSI14 (87). This increases the short-term risk substantially.
Our recommended stop-loss: ¥3.58 (-2.86%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 87 and this increases the risk substantially. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (002361.SZ) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Anhui Shenjian New Materials Co.,LTD. to open at ¥3.62, and during the day (based on 14 day Average True Range), to move between ¥3.45 and ¥3.93, which gives a possible trading interval of +/-¥0.239 (+/-6.46%) up or down from last closing price. If Anhui Shenjian New Materials Co.,LTD. takes out the full calculated possible swing range there will be an estimated 12.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥3.70 (0.27%) than the support at ¥3.67 (0.54%), 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 Anhui Shenjian New Materials 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 Anhui Shenjian New Materials Co.,LTD. stock to perform well in the short-term.
Current score: 4.941 Buy Candidate Unchanged
Predicted Opening Price for Anhui Shenjian New Materials Co.,LTD. of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| ¥3.62 ( 1.90%) | ¥3.69 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002361.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.91 | 5.96 % | |
| R2 | 3.80 | 2.96 % | ||
| R1 | 3.73 | 1.11 % | ||
| Current price: | 3.69 | |||
| Support | S1 | 3.51 | -4.90 % | |
| S2 | 3.44 | -6.75 % | ||
| S3 | 3.33 | -9.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.82 | 3.52 % | |
| R2 | 3.72 | 0.81 % | ||
| R1 | 3.70 | 0.271 % | ||
| Current price | 3.69 | |||
| Support | S1 | 3.67 | -0.542% | |
| S2 | 3.64 | -1.36% | ||
| S3 | 3.47 | -5.96% |
002361 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 12, 2023 | Jul 12, 2023 | Jul 12, 2023 | ¥0.100 | 2.49% |
| 2 | May 31, 2022 | May 31, 2022 | May 31, 2022 | ¥0.100 | 2.62% |
| 3 | Jun 01, 2021 | Jun 01, 2021 | Jun 01, 2021 | ¥0.100 | 2.14% |
| 4 | Jun 11, 2020 | Jun 11, 2020 | Jun 11, 2020 | ¥0.100 | 2.24% |
| 5 | Jun 17, 2019 | Jun 17, 2019 | Jun 17, 2019 | ¥0.100 | 2.44% |
FAQ
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