RSI low/high Values: [ 20 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of 0338.HK
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Green day on Thursday for Sinopec Shanghai Petrochemical Co Ltd stock after gaining 1.98%
(Updated on Mar 28, 2024)

Sell candidate since Mar 20, 2024 Loss -7.21% PDF

The Sinopec Shanghai Petrochemical Co Ltd stock price gained 1.98% on the last trading day (Thursday, 28th Mar 2024), rising from HK$1.01 to HK$1.03. During the last trading day the stock fluctuated 4.00% from a day low at HK$1.00 to a day high of HK$1.04. The price has fallen in 6 of the last 10 days and is down by -8.04% for this period. Volume fell on the last day by -19 million shares and in total, 9 million shares were bought and sold for approximately HK$9.56 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 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 -3.35% during the next 3 months and, with a 90% probability hold a price between HK$0.94 and HK$1.09 at the end of this 3-month period.

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0338.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, March 27, 2024, and so far it has risen 1.98%. Further rise is indicated until a new top pivot has been found. 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. The Sinopec Shanghai Petrochemical 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 HK$1.06 and HK$1.09. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Sinopec Shanghai Petrochemical Co Ltd stock

Sinopec Shanghai Petrochemical Co Ltd finds support from accumulated volume at HK$1.01 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 HK$0.0400 between high and low, or 4.00%. For the last week, the stock has had daily average volatility of 4.10%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (0338.HK) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect Sinopec Shanghai Petrochemical Company Limited to open at HK$1.02, and during the day (based on 14 day Average True Range), to move between HK$1.00 and HK$1.06, which gives a possible trading interval of +/-HK$0.0320 (+/-3.11%) up or down from last closing price. If Sinopec Shanghai Petrochemical Company Limited takes out the full calculated possible swing range there will be an estimated 6.22% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at HK$1.01 (1.94%) than the resistance at HK$1.06 (2.91%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Sinopec Shanghai Petrochemical Company Limited stock A Buy?

Sinopec Shanghai Petrochemical Co Ltd holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -2.663 Sell Candidate Unchanged

Predicted Opening Price for Sinopec Shanghai Petrochemical Company Limited of Tuesday, April 2, 2024

Fair opening price April 2, 2024 Current price
HK$1.02 ( 0.647%) HK$1.03

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for 0338.HK

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 1.06 3.24 %
R2 1.05 1.75 %
R1 1.04 0.84 %
Current price: 1.03
Support S1 1.01 -2.13 %
S2 1.00 -3.05 %
S3 0.98 -4.53 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 1.12 8.74 %
R2 1.10 6.80 %
R1 1.06 2.91 %
Current price 1.03
Support S1 1.01 -1.94%
S2 1.00 -2.91%
S3 0 .

0338 Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Jun 28, 2022 Jun 28, 2022 Jun 28, 2022 HK$0.117 8.34%
2 Jun 21, 2021 Jun 21, 2021 Jun 21, 2021 HK$0.121 6.80%
3 Jun 22, 2020 Jun 22, 2020 Jun 22, 2020 HK$0.131 6.62%
4 Jun 24, 2019 Jun 24, 2019 Jun 24, 2019 HK$0.284 9.19%
5 Jun 19, 2018 Jun 19, 2018 Jun 19, 2018 HK$0.367 6.87%

FAQ

What is the symbol for Sinopec Shanghai Petrochemical Company Limited Stock and on which exchange is it traded?
The symbol for Sinopec Shanghai Petrochemical Company Limited is 0338.HK and it is traded on the HKEX (Hong Kong Stock Exchange).

Should I buy or sell Sinopec Shanghai Petrochemical Company Limited Stock?
Sinopec Shanghai Petrochemical Co Ltd holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

How to buy Sinopec Shanghai Petrochemical Company Limited Stock?
Sinopec Shanghai Petrochemical Company Limited Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Sinopec Shanghai Petrochemical Company Limited Stock.

What's the current price of Sinopec Shanghai Petrochemical Company Limited Stock?
As of the end of day on the 2024-03-28, the price of an Sinopec Shanghai Petrochemical Company Limited (0338.HK) share was HK$1.03.

What is the 52-week high and low for Sinopec Shanghai Petrochemical Company Limited Stock?
The 52-week high for Sinopec Shanghai Petrochemical Company Limited Stock is HK$1.43 and the 52-week low is HK$0.99.

What is the market capitalization of Sinopec Shanghai Petrochemical Company Limited Stock?
As of the 2024-03-28, the market capitalization of Sinopec Shanghai Petrochemical Company Limited is 24.702B.
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About Sinopec Shanghai Petrochemical Company Limited

Sinopec Shanghai Petrochemical Company Limited Sinopec Shanghai Petrochemical Company Limited, together with its subsidiaries, manufactures and sells petroleum products in the People's Republic of China. It operates through five segments: Synthetic Fibers, Resins and Plastics, Intermediate Petrochemicals, Petroleum Products, and Trading of Petrochemical Products. The Synthetic Fibers segment produces polyesters, acrylic fibers, and carbon fibers that are primarily used in the textile and appa... 0338.HK Profile

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