Xingye Leather Technology Co Ltd Stock Forecast
Xingye Leather Technology Co Ltd stock price up 0.85% on Tuesday
(Updated on May 28, 2024)
The Xingye Leather Technology Co Ltd stock price gained 0.85% on the last trading day (Tuesday, 28th May 2024), rising from ¥11.80 to ¥11.90. During the last trading day the stock fluctuated 2.05% from a day low at ¥11.69 to a day high of ¥11.93. The price has fallen in 7 of the last 10 days and is down by -4.03% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 768 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately ¥30.29 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥11.83 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 17.45% during the next 3 months and, with a 90% probability hold a price between ¥13.90 and ¥15.63 at the end of this 3-month period.
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002674.SZ Signals & Forecast
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. The Xingye Leather Technology Co Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ¥12.16 and ¥12.11. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -6.96%. 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 Xingye Leather Technology Co Ltd stock
Xingye Leather Technology Co Ltd finds support from accumulated volume at ¥11.51 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ¥0.240 (2.05%) between high and low. For the last week, the stock has had daily average volatility of 3.46%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002674.SZ) For The Upcoming Trading Day Of Wednesday 29th
For the upcoming trading day on Wednesday, 29th we expect Xingye Leather Technology Co Ltd to open at ¥11.84, and during the day (based on 14 day Average True Range), to move between ¥11.51 and ¥12.29, which gives a possible trading interval of +/-¥0.392 (+/-3.29%) up or down from last closing price. If Xingye Leather Technology Co Ltd takes out the full calculated possible swing range there will be an estimated 6.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥11.97 (0.59%) than the support at ¥11.51 (3.28%), 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 Xingye Leather Technology Co Ltd stock A Buy?
The Xingye Leather Technology Co Ltd stock holds several negative signals and despite the positive trend, we believe Xingye Leather Technology Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.807 Sell Candidate Unchanged
Predicted Opening Price for Xingye Leather Technology Co Ltd of Wednesday, May 29, 2024
| Fair opening price May 29, 2024 | Current price |
|---|---|
| ¥11.84 ( 0.504%) | ¥11.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002674.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.08 | 1.51 % | |
| R2 | 11.99 | 0.742 % | ||
| R1 | 11.93 | 0.266 % | ||
| Current price: | 11.90 | |||
| Support | S1 | 11.75 | -1.27 % | |
| S2 | 11.69 | -1.75 % | ||
| S3 | 11.60 | -2.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.78 | 7.39 % | |
| R2 | 12.20 | 2.52 % | ||
| R1 | 11.97 | 0.588 % | ||
| Current price | 11.90 | |||
| Support | S1 | 11.51 | -3.28% | |
| S2 | 11.49 | -3.45% | ||
| S3 | 11.02 | -7.39% |
002674 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 29, 2024 | May 29, 2024 | May 29, 2024 | ¥0.600 | 5.04% |
| 2 | Jun 09, 2023 | Jun 09, 2023 | Jun 09, 2023 | ¥0.500 | 4.62% |
| 3 | May 27, 2022 | May 27, 2022 | May 27, 2022 | ¥0.300 | 3.31% |
| 4 | May 22, 2020 | May 22, 2020 | May 22, 2020 | ¥0.600 | 6.86% |
| 5 | May 08, 2019 | May 08, 2019 | May 08, 2019 | ¥0.600 | 3.90% |
FAQ
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