Hunan Kaimeite Gases Co Ltd Stock Forecast
Big movements in Hunan Kaimeite Gases Co Ltd stock price on Wednesday moving 13.13% between high and low
(Updated on Jun 05, 2024)
The Hunan Kaimeite Gases Co Ltd stock price fell by -4.15% on the last day (Wednesday, 5th Jun 2024) from ¥6.02 to ¥5.77. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 13.13% from a day low at ¥5.71 to a day high of ¥6.46. The price has fallen in 6 of the last 10 days and is down by -12.58% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 million shares and in total, 9 million shares were bought and sold for approximately ¥49.25 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 -16.34% during the next 3 months and, with a 90% probability hold a price between ¥4.29 and ¥5.66 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.
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002549.SZ Signals & Forecast
There are few to no technical positive signals at the moment. 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 ¥6.25 and ¥6.53. 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 -19.97%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Hunan Kaimeite Gases Co Ltd stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 ¥0.750 between high and low, or 13.13%. For the last week, the stock has had daily average volatility of 7.50%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002549.SZ) For The Upcoming Trading Day Of Thursday 6th
For the upcoming trading day on Thursday, 6th we expect Hunan Kaimeite Gases Co Ltd to open at ¥5.98, and during the day (based on 14 day Average True Range), to move between ¥5.35 and ¥6.19, which gives a possible trading interval of +/-¥0.416 (+/-7.20%) 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 14.40% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ¥6.49, some ¥0.720 (12.48%) from the current price of ¥5.77, our system finds the risk reward not very attractive.
Is Hunan Kaimeite Gases Co Ltd stock A Buy?
Hunan Kaimeite Gases 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: -5.293 Strong Sell Candidate Unchanged
Predicted Opening Price for Hunan Kaimeite Gases Co Ltd of Thursday, June 6, 2024
| Fair opening price June 6, 2024 | Current price |
|---|---|
| ¥5.98 ( 3.64%) | ¥5.77 |
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 | |
|---|---|---|
| R3 | 6.73 | 16.64% |
| R2 | 6.44 | 11.67% |
| R1 | 6.27 | 8.60% |
| Price | 5.77 | |
| S1 | 5.69 | -1.33% |
| S2 | 5.52 | -4.39% |
| S3 | 5.23 | -9.36% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.21 | 24.96% |
| R2 | 6.98 | 20.97% |
| R1 | 6.49 | 12.48% |
| Price | 5.77 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
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% |
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