Xinyang Maojian Group Ltd Stock Forecast
Xinyang Maojian Group Ltd stock price up 0.97% on Friday
(Updated on May 17, 2024)
The Xinyang Maojian Group Ltd stock price gained 0.97% on the last trading day (Friday, 17th May 2024), rising from HK$0.103 to HK$0.104. During the last trading day the stock fluctuated 2.91% from a day low at HK$0.103 to a day high of HK$0.106. The price has been going up and down for this period, and there has been a 4% gain for the last 2 weeks. Volume fell on the last day by -3 million shares and in total, 2 million shares were bought and sold for approximately HK$241.55 thousand. 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 lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$0.100 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 5.68% during the next 3 months and, with a 90% probability hold a price between HK$0.106 and HK$0.127 at the end of this 3-month period.
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0362.HK Signals & Forecast
The Xinyang Maojian Group Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$0.103 and HK$0.101. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 6.12%. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Xinyang Maojian Group Ltd stock
Xinyang Maojian Group Ltd finds support from accumulated volume at HK$0.103 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved HK$0.0030 between high and low, or 2.91%. For the last week the stock has had daily average volatility of 6.87%.
Our recommended stop-loss: HK$0.0989 (-4.92%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (0362.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Xinyang Maojian Group Ltd to open at HK$0.104, and during the day (based on 14 day Average True Range), to move between HK$0.0993 and HK$0.109, which gives a possible trading interval of +/-HK$0.0047 (+/-4.49%) up or down from last closing price. If Xinyang Maojian Group Ltd takes out the full calculated possible swing range there will be an estimated 8.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at HK$0.105 (0.96%) than the support at HK$0.103 (0.96%), 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 Xinyang Maojian Group Ltd stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Xinyang Maojian Group Ltd stock to perform well in the short-term.
Current score: 3.476 Buy Candidate Unchanged
Predicted Opening Price for Xinyang Maojian Group Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$0.104 ( 0.321%) | HK$0.104 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0362.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.107 | 3.21 % | |
| R2 | 0.106 | 2.10 % | ||
| R1 | 0.105 | 1.42 % | ||
| Current price: | 0.104 | |||
| Support | S1 | 0.103 | -0.781 % | |
| S2 | 0.102 | -1.46 % | ||
| S3 | 0.101 | -2.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.116 | 11.54 % | |
| R2 | 0.106 | 1.92 % | ||
| R1 | 0.105 | 0.96 % | ||
| Current price | 0.104 | |||
| Support | S1 | 0.103 | -0.96% | |
| S2 | 0.100 | -3.85% | ||
| S3 | 0.0980 | -5.77% |
0362 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 13, 2003 | Nov 13, 2003 | Nov 13, 2003 | HK$0.425 | 0.172% |
FAQ
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