Guizhou Chanhen Chemical Corp Stock Forecast
Guizhou Chanhen Chemical Corp stock price up 0.438% on Friday
(Updated on May 24, 2024)
The Guizhou Chanhen Chemical Corp stock price gained 0.438% on the last trading day (Friday, 24th May 2024), rising from ¥20.55 to ¥20.64. During the last trading day the stock fluctuated 3.92% from a day low at ¥20.41 to a day high of ¥21.21. The price has fallen in 6 of the last 10 days and is down by -6.9% for this period. Volume fell on the last day by -3 million shares and in total, 8 million shares were bought and sold for approximately ¥156.78 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a 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 27.54% during the next 3 months and, with a 90% probability hold a price between ¥25.14 and ¥30.47 at the end of this 3-month period.
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002895.SZ Signals & Forecast
A sell signal was issued from a pivot top point on Monday, May 13, 2024, and so far it has fallen -10.65%. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. The Guizhou Chanhen Chemical Corp stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ¥21.14. On a fall, the stock will find some support from the long-term average at approximately ¥20.30. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Guizhou Chanhen Chemical Corp stock
Guizhou Chanhen Chemical Corp finds support from accumulated volume at ¥19.85 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 ¥0.80 between high and low, or 3.92%. For the last week, the stock has had daily average volatility of 3.55%.
Our recommended stop-loss: ¥19.69 (-4.62%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (002895.SZ) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Guizhou Chanhen Chemical Corp to open at ¥20.75, and during the day (based on 14 day Average True Range), to move between ¥19.44 and ¥21.84, which gives a possible trading interval of +/-¥1.20 (+/-5.82%) up or down from last closing price. If Guizhou Chanhen Chemical Corp takes out the full calculated possible swing range there will be an estimated 11.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥20.82 (0.87%) than the support at ¥19.85 (3.83%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Guizhou Chanhen Chemical Corp stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Current score: 2.429 Buy Candidate Unchanged
Predicted Opening Price for Guizhou Chanhen Chemical Corp of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| ¥20.75 ( 0.549%) | ¥20.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002895.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.55 | 4.43 % | |
| R2 | 21.25 | 2.94 % | ||
| R1 | 21.06 | 2.03 % | ||
| Current price: | 20.64 | |||
| Support | S1 | 20.45 | -0.93 % | |
| S2 | 20.26 | -1.85 % | ||
| S3 | 19.95 | -3.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.85 | 5.86 % | |
| R2 | 20.99 | 1.70 % | ||
| R1 | 20.82 | 0.87 % | ||
| Current price | 20.64 | |||
| Support | S1 | 19.85 | -3.83% | |
| S2 | 19.27 | -6.64% | ||
| S3 | 19.08 | -7.56% |
002895 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 16, 2024 | May 16, 2024 | May 16, 2024 | ¥1.00 | 4.67% |
| 2 | May 16, 2023 | May 16, 2023 | May 16, 2023 | ¥0.700 | 3.36% |
| 3 | May 23, 2022 | May 23, 2022 | May 23, 2022 | ¥0.200 | 0.638% |
| 4 | May 08, 2020 | May 08, 2020 | May 08, 2020 | ¥0.300 | 2.61% |
| 5 | May 08, 2019 | May 08, 2019 | May 08, 2019 | ¥0.300 | 2.01% |
FAQ
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