Xinjiang Haoyuan Natural Gas Co Ltd Stock Forecast
Is Xinjiang Haoyuan Natural Gas Co Ltd stock still a buy after falling -5.08% on Monday?
(Updated on May 13, 2024)
The Xinjiang Haoyuan Natural Gas Co Ltd stock price fell by -5.08% on the last day (Monday, 13th May 2024) from ¥5.91 to ¥5.61. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 6.77% from a day low at ¥5.61 to a day high of ¥5.99. The price has fallen in 7 of the last 10 days and is down by -7.58% 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 -1 million shares and in total, 682 thousand shares were bought and sold for approximately ¥3.82 million.
Given the current short-term trend, the stock is expected to rise 29.14% during the next 3 months and, with a 90% probability hold a price between ¥7.24 and ¥8.79 at the end of this 3-month period.
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002700.SZ Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Xinjiang Haoyuan Natural Gas 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 ¥5.95 and ¥5.84. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -9.52%. Further fall is indicated until a new bottom pivot has been found. 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 Xinjiang Haoyuan Natural Gas Co Ltd stock
Xinjiang Haoyuan Natural Gas Co Ltd finds support from accumulated volume at ¥5.55 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 ¥0.380 between high and low, or 6.77%. For the last week, the stock has had daily average volatility of 3.43%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002700.SZ) For The Upcoming Trading Day Of Tuesday 14th
For the upcoming trading day on Tuesday, 14th we expect Xinjiang Haoyuan Natural Gas Co Ltd to open at ¥5.74, and during the day (based on 14 day Average True Range), to move between ¥5.25 and ¥5.97, which gives a possible trading interval of +/-¥0.362 (+/-6.45%) up or down from last closing price. If Xinjiang Haoyuan Natural Gas Co Ltd takes out the full calculated possible swing range there will be an estimated 12.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥5.55 (1.07%) than the resistance at ¥5.74 (2.32%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Xinjiang Haoyuan Natural Gas Co Ltd stock A Buy?
The Xinjiang Haoyuan Natural Gas Co Ltd stock holds several negative signals and despite the positive trend, we believe Xinjiang Haoyuan Natural Gas Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -2.813 Sell Candidate Downgraded
Predicted Opening Price for Xinjiang Haoyuan Natural Gas Co Ltd of Tuesday, May 14, 2024
| Fair opening price May 14, 2024 | Current price |
|---|---|
| ¥5.74 ( 2.26%) | ¥5.61 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002700.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.12 | 9.03 % | |
| R2 | 5.97 | 6.44 % | ||
| R1 | 5.88 | 4.85 % | ||
| Current price: | 5.61 | |||
| Support | S1 | 5.59 | -0.330 % | |
| S2 | 5.50 | -1.93 % | ||
| S3 | 5.36 | -4.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.19 | 10.34 % | |
| R2 | 6.08 | 8.38 % | ||
| R1 | 5.74 | 2.32 % | ||
| Current price | 5.61 | |||
| Support | S1 | 5.55 | -1.07% | |
| S2 | 5.47 | -2.50% | ||
| S3 | 5.21 | -7.13% |
002700 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 15, 2023 | Jun 15, 2023 | Jun 15, 2023 | ¥0.0600 | 1.34% |
| 2 | Jun 25, 2021 | Jun 25, 2021 | Jun 25, 2021 | ¥0.0350 | 0.85% |
| 3 | Jul 10, 2020 | Jul 10, 2020 | Jul 10, 2020 | ¥0.0350 | 0.88% |
| 4 | May 30, 2019 | May 30, 2019 | May 30, 2019 | ¥0.0300 | 0.342% |
| 5 | May 08, 2018 | May 08, 2018 | May 08, 2018 | ¥0.0300 | 0.381% |
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