Hunan Dakang Intrntnl Food & Agri Co Ltd Stock Forecast
Volatile ride for Hunan Dakang Intrntnl Food & Agri Co Ltd stock price on Friday moving between ¥0.96 and ¥1.06
(Updated on May 17, 2024)
The Hunan Dakang Intrntnl Food & Agri Co Ltd stock price gained 5.15% on the last trading day (Friday, 17th May 2024), rising from ¥0.97 to ¥1.02. During the last trading day the stock fluctuated 10.42% from a day low at ¥0.96 to a day high of ¥1.06. The price has fallen in 6 of the last 10 days and is down by -5.56% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 55 million more shares were traded than the day before. In total, 118 million shares were bought and sold for approximately ¥120.49 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ¥1.06 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -27.67% during the next 3 months and, with a 90% probability hold a price between ¥0.593 and ¥0.770 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
002505.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 12.09%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. The Hunan Dakang Intrntnl Food & Agri Co Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ¥1.09. On a fall, the stock will find some support from the short-term average at ¥1.02. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Hunan Dakang Intrntnl Food & Agri Co Ltd stock
Hunan Dakang Intrntnl Food & Agri Co Ltd finds support from accumulated volume at ¥1.01 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 10.42%. For the last week, the stock has had daily average volatility of 7.57%.
Our recommended stop-loss: ¥0.98 (-4.13%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (002505.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Hunan Dakang Intrntnl Food & Agri Co Ltd to open at ¥1.01, and during the day (based on 14 day Average True Range), to move between ¥0.93 and ¥1.11, which gives a possible trading interval of +/-¥0.0928 (+/-9.10%) up or down from last closing price. If Hunan Dakang Intrntnl Food & Agri Co Ltd takes out the full calculated possible swing range there will be an estimated 18.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥1.01 (0.98%) than the resistance at ¥1.06 (3.92%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hunan Dakang Intrntnl Food & Agri Co Ltd stock A Buy?
Hunan Dakang Intrntnl Food & Agri 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: -0.705 Hold/Accumulate Upgraded
Predicted Opening Price for Hunan Dakang Intrntnl Food & Agri Co Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥1.01 ( 0.654%) | ¥1.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002505.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.11 | 9.15 % | |
| R2 | 1.08 | 5.41 % | ||
| R1 | 1.05 | 3.09 % | ||
| Current price: | 1.02 | |||
| Support | S1 | 0.98 | -4.40 % | |
| S2 | 0.95 | -6.71 % | ||
| S3 | 0.91 | -10.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.08 | 5.88 % | |
| R2 | 1.07 | 4.90 % | ||
| R1 | 1.06 | 3.92 % | ||
| Current price | 1.02 | |||
| Support | S1 | 1.01 | -0.98% | |
| S2 | 1.00 | -1.96% | ||
| S3 | 0.99 | -2.94% |
002505 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 03, 2012 | Jul 03, 2012 | Jul 03, 2012 | ¥0.0106 | 1.65% |
| 2 | May 24, 2011 | May 24, 2011 | May 24, 2011 | ¥0.0021 | 0.272% |
FAQ
Click here for our free guide on how to buy Hunan Dakang Intrntnl Food & Agri Co Ltd Stock.
