Hubei Kailong Chemical Group Co Ltd Stock Forecast
Hubei Kailong Chemical Group Co Ltd stock price up 1.63% on Friday
(Updated on Apr 26, 2024)
The Hubei Kailong Chemical Group Co Ltd stock price gained 1.63% on the last trading day (Friday, 26th Apr 2024), rising from ¥7.98 to ¥8.11. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 6.41% from a day low at ¥7.65 to a day high of ¥8.14. The price has risen in 6 of the last 10 days but is still down by -0.12% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 920 thousand more shares were traded than the day before. In total, 8 million shares were bought and sold for approximately ¥63.00 million.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.27% during the next 3 months and, with a 90% probability hold a price between ¥7.35 and ¥9.80 at the end of this 3-month period.
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002783.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 14.39%. Further rise is indicated until a new top pivot has been found. 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 Hubei Kailong Chemical Group 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 ¥8.44. On a fall, the stock will find some support from the short-term average at ¥7.85. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Hubei Kailong Chemical Group Co Ltd stock
Hubei Kailong Chemical Group Co Ltd finds support from accumulated volume at ¥7.81 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 ¥0.490 between high and low, or 6.41%. For the last week, the stock has had daily average volatility of 4.40%.
Our recommended stop-loss: ¥7.78 (-4.10%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (002783.SZ) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Hubei Kailong Chemical Group Co Ltd to open at ¥7.97, and during the day (based on 14 day Average True Range), to move between ¥7.61 and ¥8.61, which gives a possible trading interval of +/-¥0.496 (+/-6.11%) up or down from last closing price. If Hubei Kailong Chemical Group Co Ltd takes out the full calculated possible swing range there will be an estimated 12.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥7.81 (3.70%) than the resistance at ¥8.70 (7.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hubei Kailong Chemical Group Co Ltd stock A Buy?
Hubei Kailong Chemical Group Co Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.581 Hold/Accumulate Unchanged
Predicted Opening Price for Hubei Kailong Chemical Group Co Ltd of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ¥7.97 ( 1.77%) | ¥8.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002783.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.46 | 4.27 % | |
| R2 | 8.27 | 1.97 % | ||
| R1 | 8.15 | 0.541 % | ||
| Current price: | 8.11 | |||
| Support | S1 | 7.78 | -4.08 % | |
| S2 | 7.66 | -5.50 % | ||
| S3 | 7.48 | -7.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.84 | 9.00 % | |
| R2 | 8.76 | 8.01 % | ||
| R1 | 8.70 | 7.27 % | ||
| Current price | 8.11 | |||
| Support | S1 | 7.81 | -3.70% | |
| S2 | 7.80 | -3.82% | ||
| S3 | 6.82 | -15.91% |
002783 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | ¥0.100 | 1.22% |
| 2 | Jul 15, 2021 | Jul 15, 2021 | Jul 15, 2021 | ¥0.100 | 1.15% |
| 3 | Jul 15, 2020 | Jul 15, 2020 | Jul 15, 2020 | ¥0.100 | 0.787% |
| 4 | Jun 12, 2019 | Jun 12, 2019 | Jun 12, 2019 | ¥0.200 | 1.63% |
| 5 | May 29, 2018 | May 29, 2018 | May 29, 2018 | ¥0.125 | 1.18% |
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