Limin Chemical Co Ltd Stock Forecast
Limin Chemical Co Ltd stock upgraded to Hold/Accumulate.
(Updated on Jun 28, 2024)
The Limin Chemical Co Ltd stock price gained 1.32% on the last trading day (Friday, 28th Jun 2024), rising from ¥6.80 to ¥6.89. During the last trading day the stock fluctuated 3.85% from a day low at ¥6.76 to a day high of ¥7.02. The price has been going up and down for this period, and there has been a -2.27% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately ¥18.23 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 Limin Chemical Co Ltd stock with a 90% probability to be traded between ¥5.97 and ¥8.22 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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002734.SZ Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Limin Chemical 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 ¥6.92 and ¥7.11. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 10, 2024, and so far it has fallen -13.55%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Limin Chemical Co Ltd stock
Limin Chemical Co Ltd finds support from accumulated volume at ¥6.77 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 ¥0.260 (3.85%) between high and low. For the last week, the stock has had daily average volatility of 4.25%.
Our recommended stop-loss: ¥6.49 (-5.82%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 47 days ago.)
Trading Expectations (002734.SZ) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Limin Chemical Co Ltd to open at ¥6.89, and during the day (based on 14 day Average True Range), to move between ¥6.55 and ¥7.23, which gives a possible trading interval of +/-¥0.340 (+/-4.94%) up or down from last closing price. If Limin Chemical Co Ltd takes out the full calculated possible swing range there will be an estimated 9.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥6.77 (1.74%) than the resistance at ¥7.35 (6.68%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Limin Chemical Co Ltd stock A Buy?
Limin Chemical 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.947 Hold/Accumulate Upgraded
Predicted Opening Price for Limin Chemical Co Ltd of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ¥6.89 ( 0%) | ¥6.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002734.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.15 | 3.77% |
| R2 | 7.05 | 2.33% |
| R1 | 6.99 | 1.44% |
| Price | 6.89 | |
| S1 | 6.79 | -1.44% |
| S2 | 6.73 | -2.33% |
| S3 | 6.63 | -3.77% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.36 | 21.34% |
| R2 | 7.52 | 9.14% |
| R1 | 7.35 | 6.68% |
| Price | 6.89 | |
| S1 | 6.77 | -1.74% |
| S2 | 6.62 | -3.92% |
| S3 | 6.09 | -11.61% |
002734 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 12, 2024 | Jun 12, 2024 | Jun 12, 2024 | ¥0.200 | 2.79% |
| 2 | Jun 16, 2023 | Jun 16, 2023 | Jun 16, 2023 | ¥0.250 | 2.76% |
| 3 | May 24, 2022 | May 24, 2022 | May 24, 2022 | ¥0.300 | 3.23% |
| 4 | Jun 02, 2021 | Jun 02, 2021 | Jun 02, 2021 | ¥0.250 | 2.00% |
| 5 | May 26, 2020 | May 26, 2020 | May 26, 2020 | ¥0.231 | 1.86% |
FAQ
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