Shandong Mining Machinery Group Co Ltd Stock Forecast
Shandong Mining Machinery Group Co Ltd stock price up more than 5.14% on Wednesday
(Updated on Apr 24, 2024)
The Shandong Mining Machinery Group Co Ltd stock price gained 5.14% on the last trading day (Wednesday, 24th Apr 2024), rising from ¥3.11 to ¥3.27. During the last trading day the stock fluctuated 8.58% from a day low at ¥3.03 to a day high of ¥3.29. The price has risen in 6 of the last 10 days and is up by 5.83% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 79 million more shares were traded than the day before. In total, 183 million shares were bought and sold for approximately ¥598.09 million.
The stock lies in the middle of a 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 34.41% during the next 3 months and, with a 90% probability hold a price between ¥3.78 and ¥4.68 at the end of this 3-month period.
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002526.SZ Signals & Forecast
The Shandong Mining Machinery Group 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 ¥3.06 and ¥2.82. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, February 05, 2024, and so far it has risen 61.08%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Shandong Mining Machinery Group Co Ltd stock
Shandong Mining Machinery Group Co Ltd finds support from accumulated volume at ¥3.13 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 ¥0.260 between high and low, or 8.58%. For the last week, the stock has had daily average volatility of 7.83%.
Our recommended stop-loss: ¥3.14 (-3.92%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 51 days ago.)
Trading Expectations (002526.SZ) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Shandong Mining Machinery Group Co Ltd to open at ¥3.20, and during the day (based on 14 day Average True Range), to move between ¥3.06 and ¥3.48, which gives a possible trading interval of +/-¥0.209 (+/-6.38%) up or down from last closing price. If Shandong Mining Machinery Group Co Ltd takes out the full calculated possible swing range there will be an estimated 12.75% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ¥3.13, some ¥0.140 (4.28%) from the current price of ¥3.27, our system finds the risk reward attractive.
Is Shandong Mining Machinery Group 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 Shandong Mining Machinery Group 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: 4.429 Buy Candidate Upgraded
Predicted Opening Price for Shandong Mining Machinery Group Co Ltd of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| ¥3.20 ( 2.24%) | ¥3.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002526.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.46 | 5.71 % | |
| R2 | 3.36 | 2.67 % | ||
| R1 | 3.30 | 0.795 % | ||
| Current price: | 3.27 | |||
| Support | S1 | 3.10 | -5.28 % | |
| S2 | 3.04 | -7.16 % | ||
| S3 | 2.94 | -10.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 3.27 | |||
| Support | S1 | 3.13 | -4.28% | |
| S2 | 3.00 | -8.26% | ||
| S3 | 2.97 | -9.17% |
002526 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 01, 2020 | Jun 01, 2020 | Jun 01, 2020 | ¥0.0100 | 0.442% |
| 2 | May 21, 2014 | May 21, 2014 | May 21, 2014 | ¥0.0138 | 0.721% |
| 3 | Jun 07, 2013 | Jun 07, 2013 | Jun 07, 2013 | ¥0.0138 | 0.665% |
| 4 | May 22, 2012 | May 22, 2012 | May 22, 2012 | ¥0.0087 | 0.349% |
| 5 | May 11, 2011 | May 11, 2011 | May 11, 2011 | ¥0.0577 | 1.25% |
FAQ
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