Jiangsu Huahong Technology Stock Co Ltd Stock Forecast
High volatility in Jiangsu Huahong Technology Stock Co Ltd stock price on Tuesday which ended trading at ¥10.74
(Updated on Apr 30, 2024)
The Jiangsu Huahong Technology Stock Co Ltd stock price gained 6.34% on the last trading day (Tuesday, 30th Apr 2024), rising from ¥10.10 to ¥10.74. During the last trading day the stock fluctuated 14.48% from a day low at ¥9.46 to a day high of ¥10.83. The price has risen in 6 of the last 10 days and is up by 17.25% 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, 23 million more shares were traded than the day before. In total, 32 million shares were bought and sold for approximately ¥346.89 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 40.73% during the next 3 months and, with a 90% probability hold a price between ¥13.82 and ¥18.64 at the end of this 3-month period.
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002645.SZ Signals & Forecast
The Jiangsu Huahong Technology Stock Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥9.62 and ¥10.35. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 17.25%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Jiangsu Huahong Technology Stock Co Ltd stock
Jiangsu Huahong Technology Stock Co Ltd finds support from accumulated volume at ¥10.64 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 ¥1.37 between high and low, or 14.48%. For the last week, the stock has had daily average volatility of 7.17%.
Our recommended stop-loss: ¥10.29 (-4.18%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (002645.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Jiangsu Huahong Technology Stock Co Ltd to open at ¥10.34, and during the day (based on 14 day Average True Range), to move between ¥9.61 and ¥11.87, which gives a possible trading interval of +/-¥1.13 (+/-10.56%) up or down from last closing price. If Jiangsu Huahong Technology Stock Co Ltd takes out the full calculated possible swing range there will be an estimated 21.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥10.64 (0.93%) than the resistance at ¥11.00 (2.42%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Jiangsu Huahong Technology Stock 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 Jiangsu Huahong Technology Stock Co Ltd 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: 2.774 Buy Candidate Upgraded
Predicted Opening Price for Jiangsu Huahong Technology Stock Co Ltd of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥10.34 ( 3.69%) | ¥10.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002645.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.71 | 9.06 % | |
| R2 | 11.19 | 4.19 % | ||
| R1 | 10.87 | 1.18 % | ||
| Current price: | 10.74 | |||
| Support | S1 | 9.82 | -8.57 % | |
| S2 | 9.50 | -11.58 % | ||
| S3 | 8.97 | -16.45 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.35 | 5.68 % | |
| R2 | 11.14 | 3.72 % | ||
| R1 | 11.00 | 2.42 % | ||
| Current price | 10.74 | |||
| Support | S1 | 10.64 | -0.93% | |
| S2 | 10.11 | -5.87% | ||
| S3 | 9.19 | -14.43% |
002645 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 01, 2023 | Jun 01, 2023 | Jun 01, 2023 | ¥0.200 | 1.75% |
| 2 | Jun 13, 2022 | Jun 13, 2022 | Jun 13, 2022 | ¥0.100 | 0.440% |
| 3 | Jun 16, 2021 | Jun 16, 2021 | Jun 16, 2021 | ¥0.0800 | 0.615% |
| 4 | Jun 09, 2020 | Jun 09, 2020 | Jun 09, 2020 | ¥0.0600 | 0.620% |
| 5 | Jun 12, 2019 | Jun 12, 2019 | Jun 12, 2019 | ¥0.0923 | 1.36% |
FAQ
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