Anhui Jinhe Industrial Co Ltd Stock Forecast
Anhui Jinhe Industrial Co Ltd stock price ended at ¥24.29 on Friday, after gaining 2.14%.
(Updated on May 17, 2024)
The Anhui Jinhe Industrial Co Ltd stock price gained 2.14% on the last trading day (Friday, 17th May 2024), rising from ¥23.78 to ¥24.29. During the last trading day the stock fluctuated 7.07% from a day low at ¥23.35 to a day high of ¥25.00. The price has fallen in 6 of the last 10 days and is down by -1.3% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 million more shares were traded than the day before. In total, 12 million shares were bought and sold for approximately ¥292.86 million.
The stock lies in the middle of a 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 37.40% during the next 3 months and, with a 90% probability hold a price between ¥30.55 and ¥38.01 at the end of this 3-month period.
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002597.SZ Signals & Forecast
The Anhui Jinhe Industrial 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 ¥24.28 and ¥21.83. A breakdown below any of these levels will issue sell signals. 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 Tuesday, May 07, 2024, and so far it has fallen -8.82%. 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).
Support, Risk & Stop-loss for Anhui Jinhe Industrial Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥21.81 and ¥21.13. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Anhui Jinhe Industrial Co Ltd finds support just below today's level at ¥21.81. If this is broken, then the next support from accumulated volume will be at ¥21.13 and ¥21.11.
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 ¥1.65 between high and low, or 7.07%. For the last week, the stock has had daily average volatility of 5.66%.
Our recommended stop-loss: ¥22.91 (-5.68%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (002597.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Anhui Jinhe Industrial Co Ltd to open at ¥24.21, and during the day (based on 14 day Average True Range), to move between ¥22.73 and ¥25.85, which gives a possible trading interval of +/-¥1.56 (+/-6.42%) up or down from last closing price. If Anhui Jinhe Industrial Co Ltd takes out the full calculated possible swing range there will be an estimated 12.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥24.39 (0.41%) than the support at ¥21.81 (10.21%), 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 Anhui Jinhe Industrial Co Ltd stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Anhui Jinhe Industrial Co Ltd stock to perform well in the short-term.
Current score: 2.094 Buy Candidate Unchanged
Predicted Opening Price for Anhui Jinhe Industrial Co Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥24.21 ( 0.316%) | ¥24.29 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002597.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.86 | 6.48 % | |
| R2 | 25.23 | 3.88 % | ||
| R1 | 24.84 | 2.28 % | ||
| Current price: | 24.29 | |||
| Support | S1 | 23.58 | -2.91 % | |
| S2 | 23.19 | -4.51 % | ||
| S3 | 22.56 | -7.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.33 | 8.40 % | |
| R2 | 25.01 | 2.96 % | ||
| R1 | 24.39 | 0.412 % | ||
| Current price | 24.29 | |||
| Support | S1 | 21.81 | -10.21% | |
| S2 | 21.13 | -13.01% | ||
| S3 | 21.11 | -13.09% |
002597 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2023 | May 31, 2023 | May 31, 2023 | ¥0.80 | 3.52% |
| 2 | Apr 29, 2022 | Apr 29, 2022 | Apr 29, 2022 | ¥0.650 | 1.71% |
| 3 | May 21, 2021 | May 21, 2021 | May 21, 2021 | ¥0.450 | 1.38% |
| 4 | Apr 16, 2020 | Apr 16, 2020 | Apr 16, 2020 | ¥0.540 | 2.84% |
| 5 | Apr 26, 2019 | Apr 26, 2019 | Apr 26, 2019 | ¥0.360 | 1.81% |
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