Guangdong Xianglu Tungsten Co Ltd Stock Forecast
Stronger technical forecast for Guangdong Xianglu Tungsten Co Ltd stock price after Friday trading.
(Updated on May 17, 2024)
The Guangdong Xianglu Tungsten Co Ltd stock price fell by -0.95% on the last day (Friday, 17th May 2024) from ¥6.32 to ¥6.26. During the last trading day the stock fluctuated 8.93% from a day low at ¥6.16 to a day high of ¥6.71. The price has been going up and down for this period, and there has been a 3.64% gain for the last 2 weeks. 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 -841 thousand shares and in total, 7 million shares were bought and sold for approximately ¥41.01 million.
The stock lies in the middle of a very wide and strong 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 11.02% during the next 3 months and, with a 90% probability hold a price between ¥6.17 and ¥8.72 at the end of this 3-month period.
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002842.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 Guangdong Xianglu Tungsten 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 ¥6.41 and ¥6.42. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -16.53%. 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 Guangdong Xianglu Tungsten Co Ltd stock
Guangdong Xianglu Tungsten Co Ltd finds support from accumulated volume at ¥6.00 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 ¥0.550 between high and low, or 8.93%. For the last week, the stock has had daily average volatility of 7.64%.
Our recommended stop-loss: ¥5.90 (-5.72%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 27 days ago.)
Trading Expectations (002842.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Guangdong Xianglu Tungsten Co Ltd to open at ¥6.38, and during the day (based on 14 day Average True Range), to move between ¥5.68 and ¥6.84, which gives a possible trading interval of +/-¥0.583 (+/-9.31%) up or down from last closing price. If Guangdong Xianglu Tungsten Co Ltd takes out the full calculated possible swing range there will be an estimated 18.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥6.00 (4.15%) than the resistance at ¥7.15 (14.22%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Guangdong Xianglu Tungsten Co Ltd stock A Buy?
Guangdong Xianglu Tungsten 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: -0.677 Hold/Accumulate Upgraded
Predicted Opening Price for Guangdong Xianglu Tungsten Co Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥6.38 ( 1.86%) | ¥6.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002842.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.93 | 10.65 % | |
| R2 | 6.72 | 7.29 % | ||
| R1 | 6.59 | 5.22 % | ||
| Current price: | 6.26 | |||
| Support | S1 | 6.17 | -1.49 % | |
| S2 | 6.04 | -3.57 % | ||
| S3 | 5.83 | -6.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.50 | 19.81 % | |
| R2 | 7.17 | 14.54 % | ||
| R1 | 7.15 | 14.22 % | ||
| Current price | 6.26 | |||
| Support | S1 | 6.00 | -4.15% | |
| S2 | 5.93 | -5.27% | ||
| S3 | 5.71 | -8.79% |
002842 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 10, 2022 | Jun 10, 2022 | Jun 10, 2022 | ¥0.100 | 1.18% |
| 2 | Jun 19, 2020 | Jun 19, 2020 | Jun 19, 2020 | ¥0.0500 | 0.533% |
| 3 | Jun 11, 2019 | Jun 11, 2019 | Jun 11, 2019 | ¥0.0625 | 0.410% |
| 4 | May 24, 2018 | May 24, 2018 | May 24, 2018 | ¥0.0735 | 0.510% |
| 5 | Jun 22, 2017 | Jun 22, 2017 | Jun 22, 2017 | ¥0.0368 | 0.271% |
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