Linzhou Heavy Machinery Group Co Ltd Stock Forecast
Linzhou Heavy Machinery Group Co Ltd stock price ended at ¥3.73 on Friday, after losing 2.10%.
(Updated on May 10, 2024)
The Linzhou Heavy Machinery Group Co Ltd stock price fell by -2.10% on the last day (Friday, 10th May 2024) from ¥3.81 to ¥3.73. During the last trading day the stock fluctuated 2.41% from a day low at ¥3.73 to a day high of ¥3.82. The price has been going up and down for this period, and there has been a -2.61% loss for the last 2 weeks. Volume has increased on the last day by 28 thousand 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, 9 million shares were bought and sold for approximately ¥33.57 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥3.56 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -9.60% during the next 3 months and, with a 90% probability hold a price between ¥3.22 and ¥4.07 at the end of this 3-month period.
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002535.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 1.08%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Linzhou Heavy Machinery Group Co Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ¥3.86 and ¥4.18. A break-up above any of these levels will issue buy signals. 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 Linzhou Heavy Machinery Group Co Ltd stock
Linzhou Heavy Machinery Group Co Ltd finds support from accumulated volume at ¥3.69 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 ¥0.0900 between high and low, or 2.41%. For the last week, the stock has had daily average volatility of 4.59%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002535.SZ) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Linzhou Heavy Machinery Group Co Ltd to open at ¥3.76, and during the day (based on 14 day Average True Range), to move between ¥3.51 and ¥3.95, which gives a possible trading interval of +/-¥0.223 (+/-5.99%) up or down from last closing price. If Linzhou Heavy Machinery Group Co Ltd takes out the full calculated possible swing range there will be an estimated 11.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥3.69 (1.07%) than the resistance at ¥4.33 (16.09%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Linzhou Heavy Machinery Group Co Ltd stock A Buy?
Linzhou Heavy Machinery Group Co Ltd holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.091 Sell Candidate Unchanged
Predicted Opening Price for Linzhou Heavy Machinery Group Co Ltd of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ¥3.76 ( 0.80%) | ¥3.73 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002535.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.85 | 3.22 % | |
| R2 | 3.82 | 2.30 % | ||
| R1 | 3.79 | 1.73 % | ||
| Current price: | 3.73 | |||
| Support | S1 | 3.73 | -0.117 % | |
| S2 | 3.70 | -0.687 % | ||
| S3 | 3.67 | -1.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.63 | 24.13 % | |
| R2 | 4.40 | 17.96 % | ||
| R1 | 4.33 | 16.09 % | ||
| Current price | 3.73 | |||
| Support | S1 | 3.69 | -1.07% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
002535 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 08, 2015 | Jun 08, 2015 | Jun 08, 2015 | ¥0.0154 | 0.110% |
| 2 | May 13, 2014 | May 13, 2014 | May 13, 2014 | ¥0.0769 | 1.38% |
| 3 | Jun 14, 2013 | Jun 14, 2013 | Jun 14, 2013 | ¥0.0769 | 1.59% |
| 4 | Jun 07, 2012 | Jun 07, 2012 | Jun 07, 2012 | ¥0.0592 | 0.90% |
| 5 | May 16, 2011 | May 16, 2011 | May 16, 2011 | ¥0.0185 | 0.195% |
FAQ
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