Shandong Xiantan Co Ltd Stock Forecast
Shandong Xiantan Co Ltd stock price up 2.28% on Monday
(Updated on May 06, 2024)
The Shandong Xiantan Co Ltd stock price gained 2.28% on the last trading day (Monday, 6th May 2024), rising from ¥6.13 to ¥6.27. During the last trading day the stock fluctuated 3.76% from a day low at ¥6.11 to a day high of ¥6.34. The price has risen in 6 of the last 10 days and is up by 3.29% over the past 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, 9 million shares were bought and sold for approximately ¥57.86 million.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ¥6.29 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -5.28% during the next 3 months and, with a 90% probability hold a price between ¥5.51 and ¥5.96 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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002746.SZ Signals & Forecast
There are mixed signals in the stock today. The Shandong Xiantan Co Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ¥6.30. On a fall, the stock will find some support from the short-term average at ¥6.03. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -1.10%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Shandong Xiantan Co Ltd stock
Shandong Xiantan Co Ltd finds support from accumulated volume at ¥6.26 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 ¥0.230 between high and low, or 3.76%. For the last week, the stock has had daily average volatility of 3.91%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002746.SZ) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Shandong Xiantan Co Ltd to open at ¥6.24, and during the day (based on 14 day Average True Range), to move between ¥5.99 and ¥6.55, which gives a possible trading interval of +/-¥0.284 (+/-4.53%) up or down from last closing price. If Shandong Xiantan Co Ltd takes out the full calculated possible swing range there will be an estimated 9.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥6.26 (0.16%) than the resistance at ¥6.34 (1.12%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Shandong Xiantan Co Ltd will release earnings BMO on Tuesday, May 14, 2024. We will update the financials statements for Shandong Xiantan Co Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.33% in the first trading day after earnings release.
Is Shandong Xiantan Co Ltd stock A Buy?
Shandong Xiantan Co Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.173 Sell Candidate Unchanged
Predicted Opening Price for Shandong Xiantan Co Ltd of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| ¥6.24 ( 0.478%) | ¥6.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002746.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.47 | 3.19 % | |
| R2 | 6.38 | 1.79 % | ||
| R1 | 6.33 | 0.92 % | ||
| Current price: | 6.27 | |||
| Support | S1 | 6.15 | -1.88 % | |
| S2 | 6.10 | -2.75 % | ||
| S3 | 6.01 | -4.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.47 | 3.19 % | |
| R2 | 6.38 | 1.75 % | ||
| R1 | 6.34 | 1.12 % | ||
| Current price | 6.27 | |||
| Support | S1 | 6.26 | -0.159% | |
| S2 | 6.13 | -2.23% | ||
| S3 | 5.93 | -5.42% |
002746 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | ¥0.100 | 1.28% |
| 2 | Jun 30, 2022 | Jun 30, 2022 | Jun 30, 2022 | ¥0.100 | 1.09% |
| 3 | Jun 09, 2021 | Jun 09, 2021 | Jun 09, 2021 | ¥0.200 | 2.86% |
| 4 | Apr 24, 2020 | Apr 24, 2020 | Apr 24, 2020 | ¥0.267 | 2.85% |
| 5 | May 28, 2019 | May 28, 2019 | May 28, 2019 | ¥0.222 | 1.79% |
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