Hunan Mendale Hometextile Co.,Ltd. Stock Forecast
Stronger technical forecast for Hunan Mendale Hometextile Co.,Ltd. stock price after Friday trading.
(Updated on May 17, 2024)
No changes to the price of Hunan Mendale Hometextile Co.,Ltd. stock on the last trading day (Friday, 17th May 2024). During the last trading day the stock fluctuated 4.60% from a day low at ¥2.61 to a day high of ¥2.73. The price has risen in 6 of the last 10 days and is up by 1.89% over the past 2 weeks.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -6.63% during the next 3 months and, with a 90% probability hold a price between ¥2.09 and ¥2.73 at the end of this 3-month period.
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002397.SZ Signals & Forecast
The Hunan Mendale Hometextile 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 ¥2.66 and ¥2.69. 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 Tuesday, May 07, 2024, and so far it has fallen -2.17%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.
Support, Risk & Stop-loss for Hunan Mendale Hometextile Co.,Ltd. stock
Hunan Mendale Hometextile Co.,Ltd. finds support from accumulated volume at ¥2.68 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 ¥0.120 between high and low, or 4.60%. For the last week, the stock has had daily average volatility of 3.70%.
Our recommended stop-loss: ¥2.59 (-4.18%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (002397.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Hunan Mendale Hometextile Co.,Ltd. to open at ¥2.68, and during the day (based on 14 day Average True Range), to move between ¥2.56 and ¥2.84, which gives a possible trading interval of +/-¥0.135 (+/-5.00%) up or down from last closing price. If Hunan Mendale Hometextile Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 10.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥2.68 (0.74%) than the resistance at ¥2.81 (4.07%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Hunan Mendale Hometextile Co.,Ltd. will release earnings BMO on Friday, May 24, 2024. We will update the financials statements for Hunan Mendale Hometextile Co.,Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.05% in the first trading day after earnings release.
Is Hunan Mendale Hometextile Co.,Ltd. stock A Buy?
Hunan Mendale Hometextile 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.273 Hold/Accumulate Upgraded
Predicted Opening Price for Hunan Mendale Hometextile Co.,Ltd. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥2.68 ( 0.741%) | ¥2.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002397.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.80 | 3.70 % | |
| R2 | 2.75 | 2.01 % | ||
| R1 | 2.73 | 0.96 % | ||
| Current price: | 2.70 | |||
| Support | S1 | 2.63 | -2.44 % | |
| S2 | 2.61 | -3.49 % | ||
| S3 | 2.56 | -5.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.89 | 7.04 % | |
| R2 | 2.83 | 4.81 % | ||
| R1 | 2.81 | 4.07 % | ||
| Current price | 2.70 | |||
| Support | S1 | 2.68 | -0.741% | |
| S2 | 2.66 | -1.48% | ||
| S3 | 2.47 | -8.52% |
002397 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 16, 2021 | Jun 16, 2021 | Jun 16, 2021 | ¥0.0600 | 1.51% |
| 2 | Jul 17, 2020 | Jul 17, 2020 | Jul 17, 2020 | ¥0.200 | 3.35% |
| 3 | Jul 22, 2019 | Jul 22, 2019 | Jul 22, 2019 | ¥0.150 | 2.92% |
| 4 | Jul 11, 2018 | Jul 11, 2018 | Jul 11, 2018 | ¥0.0600 | 1.41% |
| 5 | Jul 07, 2017 | Jul 07, 2017 | Jul 07, 2017 | ¥0.100 | 1.61% |
FAQ
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