Hunan Kaimeite Gases Co Ltd Stock Forecast
Red day on Friday for Hunan Kaimeite Gases Co Ltd
(Updated on May 10, 2024)
The Hunan Kaimeite Gases Co Ltd stock price fell by -2.12% on the last day (Friday, 10th May 2024) from ¥7.06 to ¥6.91. During the last trading day the stock fluctuated 3.63% from a day low at ¥6.88 to a day high of ¥7.13. The price has risen in 6 of the last 10 days and is up by 10.38% over the past 2 weeks. 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, 7 million shares were bought and sold for approximately ¥48.00 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.53% during the next 3 months and, with a 90% probability hold a price between ¥5.40 and ¥7.04 at the end of this 3-month period.
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002549.SZ Signals & Forecast
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 Hunan Kaimeite Gases 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 ¥6.95 and ¥7.00. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -4.16%. Further fall is indicated until a new bottom pivot has been found. 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 Hunan Kaimeite Gases Co Ltd stock
Hunan Kaimeite Gases Co Ltd finds support from accumulated volume at ¥6.90 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 ¥0.250 between high and low, or 3.63%. For the last week, the stock has had daily average volatility of 4.44%.
Our recommended stop-loss: ¥6.63 (-4.11%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (002549.SZ) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Hunan Kaimeite Gases Co Ltd to open at ¥6.97, and during the day (based on 14 day Average True Range), to move between ¥6.45 and ¥7.37, which gives a possible trading interval of +/-¥0.456 (+/-6.60%) up or down from last closing price. If Hunan Kaimeite Gases Co Ltd takes out the full calculated possible swing range there will be an estimated 13.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥6.90 (0.14%) than the resistance at ¥7.48 (8.25%), 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 Kaimeite Gases Co Ltd stock A Buy?
Hunan Kaimeite Gases Co Ltd holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.670 Hold/Accumulate Unchanged
Predicted Opening Price for Hunan Kaimeite Gases Co Ltd of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ¥6.97 ( 0.92%) | ¥6.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002549.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.22 | 4.53 % | |
| R2 | 7.13 | 3.15 % | ||
| R1 | 7.07 | 2.30 % | ||
| Current price: | 6.91 | |||
| Support | S1 | 6.88 | -0.466 % | |
| S2 | 6.82 | -1.32 % | ||
| S3 | 6.72 | -2.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.67 | 11.00 % | |
| R2 | 7.59 | 9.84 % | ||
| R1 | 7.48 | 8.25 % | ||
| Current price | 6.91 | |||
| Support | S1 | 6.90 | -0.145% | |
| S2 | 6.49 | -6.08% | ||
| S3 | 6.39 | -7.53% |
002549 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 27, 2022 | May 27, 2022 | May 27, 2022 | ¥0.0500 | 0.330% |
| 2 | Jun 25, 2021 | Jun 25, 2021 | Jun 25, 2021 | ¥0.0500 | 0.601% |
| 3 | Jun 10, 2020 | Jun 10, 2020 | Jun 10, 2020 | ¥0.100 | 1.27% |
| 4 | May 21, 2019 | May 21, 2019 | May 21, 2019 | ¥0.100 | 1.65% |
| 5 | May 30, 2018 | May 30, 2018 | May 30, 2018 | ¥0.0500 | 0.81% |
FAQ
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