HaiXin Foods Co Ltd Stock Forecast
Red day on Thursday for HaiXin Foods Co Ltd stock after losing 3.46%
(Updated on May 23, 2024)
The HaiXin Foods Co Ltd stock price fell by -3.46% on the last day (Thursday, 23rd May 2024) from ¥4.34 to ¥4.19. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 4.32% from a day low at ¥4.17 to a day high of ¥4.35. The price has been going up and down for this period, and there has been a -3.9% loss for the last 2 weeks. Volume has increased on the last day by 4 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 16 million shares were bought and sold for approximately ¥66.69 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect HaiXin Foods Co Ltd stock with a 90% probability to be traded between ¥3.82 and ¥5.38 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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002702.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 9.40%. Further rise is indicated until a new top pivot has been found. 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 HaiXin Foods Co Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ¥4.35 and ¥4.39. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for HaiXin Foods Co Ltd stock
HaiXin Foods Co Ltd finds support from accumulated volume at ¥4.18 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 ¥0.180 between high and low, or 4.32%. For the last week, the stock has had daily average volatility of 2.94%.
Our recommended stop-loss: ¥4.06 (-3.12%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (002702.SZ) For The Upcoming Trading Day Of Friday 24th
For the upcoming trading day on Friday, 24th we expect HaiXin Foods Co Ltd to open at ¥4.24, and during the day (based on 14 day Average True Range), to move between ¥3.97 and ¥4.41, which gives a possible trading interval of +/-¥0.219 (+/-5.23%) up or down from last closing price. If HaiXin Foods Co Ltd takes out the full calculated possible swing range there will be an estimated 10.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥4.18 (0.24%) than the resistance at ¥4.45 (6.21%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is HaiXin Foods Co Ltd stock A Buy?
HaiXin Foods Co Ltd holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.116 Hold/Accumulate Unchanged
Predicted Opening Price for HaiXin Foods Co Ltd of Friday, May 24, 2024
| Fair opening price May 24, 2024 | Current price |
|---|---|
| ¥4.24 ( 1.11%) | ¥4.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002702.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.42 | 5.41 % | |
| R2 | 4.35 | 3.77 % | ||
| R1 | 4.31 | 2.75 % | ||
| Current price: | 4.19 | |||
| Support | S1 | 4.17 | -0.527 % | |
| S2 | 4.13 | -1.54 % | ||
| S3 | 4.06 | -3.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.92 | 17.42 % | |
| R2 | 4.85 | 15.75 % | ||
| R1 | 4.45 | 6.21 % | ||
| Current price | 4.19 | |||
| Support | S1 | 4.18 | -0.239% | |
| S2 | 4.04 | -3.58% | ||
| S3 | 3.83 | -8.59% |
002702 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 09, 2023 | Jun 09, 2023 | Jun 09, 2023 | ¥0.100 | 1.88% |
| 2 | May 31, 2021 | May 31, 2021 | May 31, 2021 | ¥0.0500 | 0.776% |
| 3 | Jun 01, 2020 | Jun 01, 2020 | Jun 01, 2020 | ¥0.0500 | 0.758% |
| 4 | May 08, 2019 | May 08, 2019 | May 08, 2019 | ¥0.0500 | 0.81% |
| 5 | May 07, 2015 | May 07, 2015 | May 07, 2015 | ¥0.0294 | 0.283% |
FAQ
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