Yanchang Petroleum International Limited Stock Forecast

Big movements in Yanchang Petroleum International Limited stock price on Friday moving 25.97% between high and low
(Updated on Apr 26, 2024)

0346.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 3.75%. Further rise is indicated until a new top pivot has been found. 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 Yanchang Petroleum International Limited 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 HK$0.440. On a fall, the stock will find some support from the short-term average at HK$0.411. 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. Yanchang Petroleum International Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for Yanchang Petroleum International Limited stock

Yanchang Petroleum International Limited finds support from accumulated volume at HK$0.410 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$0.1000 between high and low, or 25.97%. For the last week, the stock has had daily average volatility of 7.71%.

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

Trading Expectations (0346.HK) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Yanchang Petroleum International Limited to open at HK$0.428, and during the day (based on 14 day Average True Range), to move between HK$0.386 and HK$0.444, which gives a possible trading interval of +/-HK$0.0292 (+/-7.03%) up or down from last closing price. If Yanchang Petroleum International Limited takes out the full calculated possible swing range there will be an estimated 14.06% 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$0.410 (1.20%) than the resistance at HK$0.425 (2.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Yanchang Petroleum International Limited stock A Buy?

Yanchang Petroleum International Limited 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: -2.607 Sell Candidate Unchanged

Predicted Opening Price for Yanchang Petroleum International Limited of Monday, April 29, 2024

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