Fujian Minfa Aluminium Co Ltd Stock Forecast
Fujian Minfa Aluminium Co Ltd stock price ended at ¥2.95 on Monday, after losing 3.59%.
(Updated on Apr 22, 2024)
The Fujian Minfa Aluminium Co Ltd stock price fell by -3.59% on the last day (Monday, 22nd Apr 2024) from ¥3.06 to ¥2.95. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 6.48% from a day low at ¥2.93 to a day high of ¥3.12. The price has fallen in 7 of the last 10 days and is down by -20.27% 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 -6 million shares and in total, 30 million shares were bought and sold for approximately ¥89.84 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 13.55% during the next 3 months and, with a 90% probability hold a price between ¥3.05 and ¥4.41 at the end of this 3-month period.
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002578.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Fujian Minfa Aluminium 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 ¥3.19 and ¥3.23. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -22.57%. 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 Fujian Minfa Aluminium Co Ltd stock
Fujian Minfa Aluminium Co Ltd finds support from accumulated volume at ¥2.92 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 ¥0.190 between high and low, or 6.48%. For the last week, the stock has had daily average volatility of 17.22%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002578.SZ) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Fujian Minfa Aluminium Co Ltd to open at ¥3.00, and during the day (based on 14 day Average True Range), to move between ¥2.62 and ¥3.28, which gives a possible trading interval of +/-¥0.326 (+/-11.04%) up or down from last closing price. If Fujian Minfa Aluminium Co Ltd takes out the full calculated possible swing range there will be an estimated 22.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥2.92 (1.02%) than the resistance at ¥3.06 (3.73%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Fujian Minfa Aluminium Co Ltd stock A Buy?
The Fujian Minfa Aluminium Co Ltd stock holds several negative signals and despite the positive trend, we believe Fujian Minfa Aluminium Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.124 Sell Candidate Unchanged
Predicted Opening Price for Fujian Minfa Aluminium Co Ltd of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| ¥3.00 ( 1.69%) | ¥2.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002578.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.19 | 8.14 % | |
| R2 | 3.12 | 5.68 % | ||
| R1 | 3.07 | 4.16 % | ||
| Current price: | 2.95 | |||
| Support | S1 | 2.93 | -0.765 % | |
| S2 | 2.88 | -2.29 % | ||
| S3 | 2.81 | -4.75 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.60 | 22.03 % | |
| R2 | 3.24 | 9.83 % | ||
| R1 | 3.06 | 3.73 % | ||
| Current price | 2.95 | |||
| Support | S1 | 2.92 | -1.02% | |
| S2 | 2.82 | -4.41% | ||
| S3 | 2.43 | -17.63% |
002578 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 22, 2021 | Jun 22, 2021 | Jun 22, 2021 | ¥0.0300 | 0.92% |
| 2 | Jun 08, 2018 | Jun 08, 2018 | Jun 08, 2018 | ¥0.0200 | 0.527% |
| 3 | May 28, 2015 | May 28, 2015 | May 28, 2015 | ¥0.0400 | 0.503% |
| 4 | Jul 03, 2012 | Jul 03, 2012 | Jul 03, 2012 | ¥0.0500 | 2.09% |
FAQ
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