Hangzhou Hangyang Co., Ltd. Stock Forecast
A very red day for Hangzhou Hangyang Co., Ltd. stock price after a -5.63% fall in the Tuesday trading session
(Updated on Apr 30, 2024)
The Hangzhou Hangyang Co., Ltd. stock price fell by -5.63% on the last day (Tuesday, 30th Apr 2024) from ¥28.95 to ¥27.32. During the last trading day the stock fluctuated 7.15% from a day low at ¥27.27 to a day high of ¥29.22. The price has fallen in 7 of the last 10 days and is down by -11.56% for this period. Volume has increased on the last day by 1 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 13 million shares were bought and sold for approximately ¥346.31 million.
Given the current short-term trend, the stock is expected to rise 20.23% during the next 3 months and, with a 90% probability hold a price between ¥32.85 and ¥38.49 at the end of this 3-month period.
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002430.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Hangzhou Hangyang Co., Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ¥29.56 and ¥29.43. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 17, 2024, and so far it has fallen -12.38%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Hangzhou Hangyang Co., Ltd. stock
Hangzhou Hangyang Co., Ltd. finds support from accumulated volume at ¥27.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ¥1.95 (7.15%) between high and low. For the last week, the stock has had daily average volatility of 5.69%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002430.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Hangzhou Hangyang Co., Ltd. to open at ¥27.94, and during the day (based on 14 day Average True Range), to move between ¥26.09 and ¥28.55, which gives a possible trading interval of +/-¥1.23 (+/-4.52%) up or down from last closing price. If Hangzhou Hangyang Co., Ltd. takes out the full calculated possible swing range there will be an estimated 9.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥27.20 (0.44%) than the resistance at ¥28.55 (4.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hangzhou Hangyang Co., Ltd. stock A Buy?
The Hangzhou Hangyang Co., Ltd. stock holds several negative signals and despite the positive trend, we believe Hangzhou Hangyang Co., Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.824 Sell Candidate Unchanged
Predicted Opening Price for Hangzhou Hangyang Co., Ltd. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥27.94 ( 2.26%) | ¥27.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002430.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.89 | 9.39 % | |
| R2 | 29.14 | 6.67 % | ||
| R1 | 28.68 | 4.98 % | ||
| Current price: | 27.32 | |||
| Support | S1 | 27.19 | -0.469 % | |
| S2 | 26.73 | -2.15 % | ||
| S3 | 25.99 | -4.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.56 | 11.86 % | |
| R2 | 28.70 | 5.05 % | ||
| R1 | 28.55 | 4.50 % | ||
| Current price | 27.32 | |||
| Support | S1 | 27.20 | -0.439% | |
| S2 | 27.12 | -0.732% | ||
| S3 | 25.01 | -8.46% |
002430 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 26, 2023 | Sep 26, 2023 | Sep 26, 2023 | ¥0.200 | 0.617% |
| 2 | May 08, 2023 | May 08, 2023 | May 08, 2023 | ¥0.80 | 2.03% |
| 3 | Apr 29, 2022 | Apr 29, 2022 | Apr 29, 2022 | ¥0.600 | 2.30% |
| 4 | Jun 11, 2021 | Jun 11, 2021 | Jun 11, 2021 | ¥0.250 | 0.749% |
| 5 | Jul 14, 2020 | Jul 14, 2020 | Jul 14, 2020 | ¥0.180 | 1.20% |
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