Hunan Yujing Machinery Co Ltd Stock Forecast
Hunan Yujing Machinery Co Ltd stock price up 1.48% on Tuesday
(Updated on Jun 25, 2024)
The Hunan Yujing Machinery Co Ltd stock price gained 1.48% on the last trading day (Tuesday, 25th Jun 2024), rising from ¥20.95 to ¥21.26. During the last trading day the stock fluctuated 9.84% from a day low at ¥20.64 to a day high of ¥22.67. The price has risen in 6 of the last 10 days and is up by 20.8% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 11 million shares were bought and sold for approximately ¥231.59 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 very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -21.29% during the next 3 months and, with a 90% probability hold a price between ¥12.51 and ¥18.24 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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002943.SZ Signals & Forecast
The Hunan Yujing Machinery Co Ltd 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 ¥21.79. On a fall, the stock will find some support from the long-term average at approximately ¥20.81. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -9.99%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Hunan Yujing Machinery Co Ltd stock
Hunan Yujing Machinery Co Ltd finds support from accumulated volume at ¥20.95 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ¥2.03 between high and low, or 9.84%. For the last week, the stock has had daily average volatility of 15.41%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002943.SZ) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Hunan Yujing Machinery Co Ltd to open at ¥21.52, and during the day (based on 14 day Average True Range), to move between ¥19.06 and ¥23.46, which gives a possible trading interval of +/-¥2.20 (+/-10.33%) up or down from last closing price. If Hunan Yujing Machinery Co Ltd takes out the full calculated possible swing range there will be an estimated 20.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥21.47 (0.99%) than the support at ¥20.95 (1.46%), 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 Hunan Yujing Machinery Co Ltd stock A Buy?
Hunan Yujing Machinery 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: -2.631 Sell Candidate Unchanged
Predicted Opening Price for Hunan Yujing Machinery Co Ltd of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ¥21.52 ( 1.24%) | ¥21.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002943.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.55 | 10.79% |
| R2 | 22.78 | 7.14% |
| R1 | 22.30 | 4.89% |
| Price | 21.26 | |
| S1 | 20.75 | -2.41% |
| S2 | 20.27 | -4.66% |
| S3 | 19.49 | -8.31% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.62 | 11.10% |
| R2 | 22.83 | 7.38% |
| R1 | 21.47 | 0.99% |
| Price | 21.26 | |
| S1 | 20.95 | -1.46% |
| S2 | 20.38 | -4.14% |
| S3 | 20.00 | -5.93% |
002943 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 15, 2024 | May 15, 2024 | May 15, 2024 | ¥0.400 | 2.14% |
| 2 | Jul 14, 2020 | Jul 14, 2020 | Jul 14, 2020 | ¥0.0385 | 0.212% |
| 3 | Jun 12, 2019 | Jun 12, 2019 | Jun 12, 2019 | ¥0.0769 | 0.335% |
FAQ
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