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AI Analysis of 002560.SZ
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A very strong day for Henan Tong Da Cable Co Ltd stock price on Thursday
(Updated on Mar 28, 2024)

Buy candidate since Mar 28, 2024 PDF

The Henan Tong Da Cable Co Ltd stock price gained 5.77% on the last trading day (Thursday, 28th Mar 2024), rising from ¥6.59 to ¥6.97. During the last trading day the stock fluctuated 7.95% from a day low at ¥6.54 to a day high of ¥7.06. The price has risen in 7 of the last 10 days and is up by 9.94% 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, 7 million more shares were traded than the day before. In total, 22 million shares were bought and sold for approximately ¥154.81 million.

The stock lies the upper part of a very wide and falling 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 ¥6.99 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -6.09% during the next 3 months and, with a 90% probability hold a price between ¥4.71 and ¥6.56 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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002560.SZ Signals & Forecast

The Henan Tong Da Cable 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 ¥6.85 and ¥6.26. 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 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. A sell signal was issued from a pivot top point on Friday, March 22, 2024, and so far it has fallen -0.712%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Henan Tong Da Cable Co Ltd stock

Henan Tong Da Cable Co Ltd finds support from accumulated volume at ¥6.91 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 ¥0.520 between high and low, or 7.95%. For the last week, the stock has had daily average volatility of 5.18%.

Our recommended stop-loss: ¥6.70 (-3.87%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)

Trading Expectations (002560.SZ) For The Upcoming Trading Day Of Friday 29th

For the upcoming trading day on Friday, 29th we expect Henan Tong Da Cable Co Ltd to open at ¥6.86, and during the day (based on 14 day Average True Range), to move between ¥6.69 and ¥7.25, which gives a possible trading interval of +/-¥0.284 (+/-4.07%) up or down from last closing price. If Henan Tong Da Cable Co Ltd takes out the full calculated possible swing range there will be an estimated 8.14% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥7.02 (0.72%) than the support at ¥6.91 (0.86%), 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 Henan Tong Da Cable Co Ltd stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 1.635 Buy Candidate Upgraded

Predicted Opening Price for Henan Tong Da Cable Co Ltd of Friday, March 29, 2024

Fair opening price March 29, 2024 Current price
¥6.86 ( 1.63%) ¥6.97

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for 002560.SZ

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 7.38 5.83 %
R2 7.18 2.98 %
R1 7.06 1.22 %
Current price: 6.97
Support S1 6.66 -4.48 %
S2 6.54 -6.24 %
S3 6.34 -9.09 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 7.56 8.46 %
R2 7.07 1.43 %
R1 7.02 0.717 %
Current price 6.97
Support S1 6.91 -0.86%
S2 6.18 -11.33%
S3 5.45 -21.81%

002560 Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Aug 21, 2020 Aug 21, 2020 Aug 21, 2020 ¥0.100 0.99%
2 Aug 27, 2019 Aug 27, 2019 Aug 27, 2019 ¥0.100 1.50%
3 May 25, 2018 May 25, 2018 May 25, 2018 ¥0.0200 0.267%
4 Jul 13, 2017 Jul 13, 2017 Jul 13, 2017 ¥0.0500 0.566%
5 Jun 12, 2015 Jun 12, 2015 Jun 12, 2015 ¥0.0500 0.410%

FAQ

What is the symbol for Henan Tong Da Cable Co Ltd Stock and on which exchange is it traded?
The symbol for Henan Tong Da Cable Co Ltd is 002560.SZ and it is traded on the SZCE (Shenzhen Stock Exchange).

Should I buy or sell Henan Tong Da Cable Co Ltd Stock?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

How to buy Henan Tong Da Cable Co Ltd Stock?
Henan Tong Da Cable Co Ltd Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Henan Tong Da Cable Co Ltd Stock.

What's the current price of Henan Tong Da Cable Co Ltd Stock?
As of the end of day on the 2024-03-28, the price of an Henan Tong Da Cable Co Ltd (002560.SZ) share was ¥6.97.

What is the 52-week high and low for Henan Tong Da Cable Co Ltd Stock?
The 52-week high for Henan Tong Da Cable Co Ltd Stock is ¥9.52 and the 52-week low is ¥4.76.

What is the market capitalization of Henan Tong Da Cable Co Ltd Stock?
As of the 2024-03-28, the market capitalization of Henan Tong Da Cable Co Ltd is 3.583B.
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About Henan Tong Da Cable Co Ltd

Henan Tong-Da Cable Co., Ltd. researches and develops, and produces wires and cables in China. The company offers ground wires, cloth wires, and contact wires for electrified railway; and power, overhead insulated, fireproof, load-bearing, and control cables, as well as DC cables for rail transit. It also home improvement products; steel core aluminum strand and alloy; steel core heat-resistant; expanded diameter; aluminum clad steel strand and c... 002560.SZ Profile

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