Chengdu Leejun Industrial Co Ltd Stock Forecast
Red day on Thursday for Chengdu Leejun Industrial Co Ltd stock after losing 0%
(Updated on May 16, 2024)
No changes to the price of Chengdu Leejun Industrial Co Ltd stock on the last trading day (Thursday, 16th May 2024). During the last trading day the stock fluctuated 4.41% from a day low at ¥5.90 to a day high of ¥6.16. The price has fallen in 5 of the last 10 days and is down by -0.67% for this period.
The stock lies in the middle of a wide and weak 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 6.32% during the next 3 months and, with a 90% probability hold a price between ¥5.46 and ¥6.79 at the end of this 3-month period.
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002651.SZ Signals & Forecast
The Chengdu Leejun Industrial Co Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ¥6.00. On a fall, the stock will find some support from the long-term average at approximately ¥5.85. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. 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 Thursday, May 09, 2024, and so far it has fallen -4.05%. Further fall is indicated until a new bottom pivot has been found.
A sell signal from a double top formation was found on Thursday, May 09, 2024 and based on theory for this formation the price should fall by -32.52% to ¥3.99 within 30 trading days since signal was issued (Friday, May 17, 2024).
Support, Risk & Stop-loss for Chengdu Leejun Industrial Co Ltd stock
Chengdu Leejun Industrial Co Ltd finds support from accumulated volume at ¥5.85 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 ¥0.260 between high and low, or 4.41%. For the last week, the stock has had daily average volatility of 4.44%.
Our recommended stop-loss: ¥5.62 (-5.14%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (002651.SZ) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Chengdu Leejun Industrial Co Ltd to open at ¥5.99, and during the day (based on 14 day Average True Range), to move between ¥5.61 and ¥6.23, which gives a possible trading interval of +/-¥0.312 (+/-5.26%) up or down from last closing price. If Chengdu Leejun Industrial Co Ltd takes out the full calculated possible swing range there will be an estimated 10.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥5.85 (1.18%) than the resistance at ¥6.01 (1.52%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Chengdu Leejun 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 Chengdu Leejun Industrial Co Ltd stock to perform well in the short-term.
Current score: 1.502 Buy Candidate Unchanged
Predicted Opening Price for Chengdu Leejun Industrial Co Ltd of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| ¥5.99 ( 1.24%) | ¥5.92 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002651.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.25 | 5.63 % | |
| R2 | 6.15 | 3.95 % | ||
| R1 | 6.09 | 2.92 % | ||
| Current price: | 5.92 | |||
| Support | S1 | 5.89 | -0.439 % | |
| S2 | 5.83 | -1.48 % | ||
| S3 | 5.73 | -3.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.17 | 4.22 % | |
| R2 | 6.14 | 3.72 % | ||
| R1 | 6.01 | 1.52 % | ||
| Current price | 5.92 | |||
| Support | S1 | 5.85 | -1.18% | |
| S2 | 5.82 | -1.69% | ||
| S3 | 5.81 | -1.86% |
002651 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 13, 2023 | Jul 13, 2023 | Jul 13, 2023 | ¥0.0400 | 0.519% |
| 2 | Jul 13, 2022 | Jul 13, 2022 | Jul 13, 2022 | ¥0.0300 | 0.400% |
| 3 | Sep 30, 2021 | Sep 30, 2021 | Sep 30, 2021 | ¥0.150 | 1.16% |
| 4 | Jul 16, 2021 | Jul 16, 2021 | Jul 16, 2021 | ¥0.100 | 0.797% |
| 5 | Jul 16, 2020 | Jul 16, 2020 | Jul 16, 2020 | ¥0.0600 | 1.12% |
FAQ
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