Hangzhou Boiler Group Co Ltd Stock Forecast
Hangzhou Boiler Group Co Ltd stock price up 0.98% on Monday
(Updated on May 20, 2024)
The Hangzhou Boiler Group Co Ltd stock price gained 0.98% on the last trading day (Monday, 20th May 2024), rising from ¥11.28 to ¥11.39. During the last trading day the stock fluctuated 2.50% from a day low at ¥11.22 to a day high of ¥11.50. The price has risen in 5 of the last 10 days and is up by 0.35% over the past 2 weeks. Volume fell on the last day by -161 thousand shares and in total, 4 million shares were bought and sold for approximately ¥50.48 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 upper part of a wide and weak rising 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 ¥11.75 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 7.26% during the next 3 months and, with a 90% probability hold a price between ¥10.18 and ¥12.60 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
002534.SZ Signals & Forecast
The Hangzhou Boiler 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 ¥11.37 and ¥10.52. 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 Thursday, May 09, 2024, and so far it has fallen -2.23%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Hangzhou Boiler Group Co Ltd stock
Hangzhou Boiler Group Co Ltd finds support from accumulated volume at ¥11.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ¥0.280 between high and low, or 2.50%. For the last week, the stock has had daily average volatility of 3.84%.
Our recommended stop-loss: ¥11.03 (-3.13%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (002534.SZ) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Hangzhou Boiler Group Co Ltd to open at ¥11.37, and during the day (based on 14 day Average True Range), to move between ¥10.80 and ¥11.98, which gives a possible trading interval of +/-¥0.587 (+/-5.15%) up or down from last closing price. If Hangzhou Boiler Group Co Ltd takes out the full calculated possible swing range there will be an estimated 10.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥11.42 (0.26%) than the support at ¥11.35 (0.35%), 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 Hangzhou Boiler 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 Hangzhou Boiler Group Co Ltd stock to perform well in the short-term.
Current score: 1.446 Buy Candidate Unchanged
Predicted Opening Price for Hangzhou Boiler Group Co Ltd of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ¥11.37 ( 0.176%) | ¥11.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002534.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.65 | 2.28 % | |
| R2 | 11.54 | 1.34 % | ||
| R1 | 11.48 | 0.763 % | ||
| Current price: | 11.39 | |||
| Support | S1 | 11.26 | -1.11 % | |
| S2 | 11.20 | -1.69 % | ||
| S3 | 11.09 | -2.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.65 | 2.28 % | |
| R2 | 11.49 | 0.88 % | ||
| R1 | 11.42 | 0.263 % | ||
| Current price | 11.39 | |||
| Support | S1 | 11.35 | -0.351% | |
| S2 | 11.04 | -3.07% | ||
| S3 | 10.85 | -4.74% |
002534 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 23, 2024 | May 23, 2024 | May 23, 2024 | ¥0.100 | 0.88% |
| 2 | Jun 15, 2023 | Jun 15, 2023 | Jun 15, 2023 | ¥0.100 | 0.588% |
| 3 | May 20, 2022 | May 20, 2022 | May 20, 2022 | ¥0.200 | 1.43% |
| 4 | May 20, 2021 | May 20, 2021 | May 20, 2021 | ¥0.400 | 2.80% |
| 5 | May 25, 2020 | May 25, 2020 | May 25, 2020 | ¥0.400 | 5.41% |
FAQ
Click here for our free guide on how to buy Hangzhou Boiler Group Co Ltd Stock.
