Yanzhou Coal Mining Company Limited Stock Forecast

Evaluation of Yanzhou Coal Mining Company Limited stock downgraded after the last trading session.
(Updated on May 13, 2024)

1171.HK Signals & Forecast

The Yanzhou Coal Mining Company Limited 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$18.50 and HK$17.45. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Friday, May 10, 2024, and so far it has fallen -0.713%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Yanzhou Coal Mining Company Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$17.96 and HK$17.80. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Yanzhou Coal Mining Company Limited finds support just below today's level at HK$17.96. If this is broken, then the next support from accumulated volume will be at HK$17.80 and HK$16.72.

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$0.560 between high and low, or 2.92%. For the last week, the stock has had daily average volatility of 3.39%.

Our recommended stop-loss: HK$18.75 (-3.87%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (1171.HK) For The Upcoming Trading Day Of Tuesday 14th

For the upcoming trading day on Tuesday, 14th we expect Yanzhou Coal Mining Company Limited to open at HK$19.46, and during the day (based on 14 day Average True Range), to move between HK$18.83 and HK$20.17, which gives a possible trading interval of +/-HK$0.667 (+/-3.42%) up or down from last closing price. If Yanzhou Coal Mining Company Limited takes out the full calculated possible swing range there will be an estimated 6.85% 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$19.54 (0.21%) than the support at HK$17.96 (7.90%), 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 Yanzhou Coal Mining Company Limited stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Yanzhou Coal Mining Company Limited stock to perform well in the short-term period. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 2.344 Buy Candidate Downgraded

Predicted Opening Price for Yanzhou Coal Mining Company Limited of Tuesday, May 14, 2024

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