Hebei Yichen Industrial Group Corp Ltd Stock Forecast
Red day on Friday for Hebei Yichen Industrial Group Corp Ltd stock after losing 0%
(Updated on May 17, 2024)
No changes to the price of Hebei Yichen Industrial Group Corp Ltd stock on the last trading day (Friday, 17th May 2024). During the last trading day the stock fluctuated 0.283% from a day low at HK$3.53 to a day high of HK$3.54. The price has fallen in 5 of the last 10 days and is down by -2.48% for this period.
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 -3.39% during the next 3 months and, with a 90% probability hold a price between HK$3.29 and HK$3.63 at the end of this 3-month period.
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1596.HK Signals & Forecast
There are mixed signals in the stock today. The Hebei Yichen Industrial Group Corp 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$3.56 and HK$3.66. A break-up above any of these levels will issue buy signals. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". A buy signal was issued from a pivot bottom point on Tuesday, May 14, 2024, and so far it has fallen 0%. 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).
Support, Risk & Stop-loss for Hebei Yichen Industrial Group Corp Ltd stock
Hebei Yichen Industrial Group Corp Ltd finds support from accumulated volume at HK$3.50 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 very controlled movements and therefore the general risk is considered very 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$0.0100 between high and low, or 0.283%. For the last week the stock has had daily average volatility of 0.396%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1596.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Hebei Yichen Industrial Group Corp Ltd to open at HK$3.54, and during the day (based on 14 day Average True Range), to move between HK$3.49 and HK$3.59, which gives a possible trading interval of +/-HK$0.0549 (+/-1.55%) up or down from last closing price. If Hebei Yichen Industrial Group Corp Ltd takes out the full calculated possible swing range there will be an estimated 3.10% 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$3.50 (1.13%) than the resistance at HK$3.59 (1.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hebei Yichen Industrial Group Corp Ltd stock A Buy?
Hebei Yichen Industrial Group Corp 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: -2.860 Sell Candidate Unchanged
Predicted Opening Price for Hebei Yichen Industrial Group Corp Ltd of Monday, May 20, 2024
Fair opening price May 20, 2024 | Current price |
---|---|
HK$3.54 ( 0.0942%) | HK$3.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1596.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.55 | 0.188 % | |
R2 | 3.54 | 0.0804 % | ||
R1 | 3.54 | 0.0137 % | ||
Current price: | 3.54 | |||
Support | S1 | 3.53 | -0.202 % | |
S2 | 3.53 | -0.269 % | ||
S3 | 3.53 | -0.377 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.77 | 6.50 % | |
R2 | 3.62 | 2.26 % | ||
R1 | 3.59 | 1.41 % | ||
Current price | 3.54 | |||
Support | S1 | 3.50 | -1.13% | |
S2 | 0 | . | ||
S3 | 0 | . |
1596 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 03, 2024 | Jun 03, 2024 | Jul 25, 2024 | HK$0.0109 | 0.307% |
2 | May 31, 2023 | May 31, 2023 | May 31, 2023 | HK$0.0560 | 1.44% |
3 | Jun 06, 2022 | Jun 06, 2022 | Jun 06, 2022 | HK$0.0648 | 1.39% |
4 | Nov 03, 2020 | Nov 03, 2020 | Nov 03, 2020 | HK$0.0170 | 0.429% |
5 | Oct 28, 2020 | Oct 28, 2020 | Oct 28, 2020 | HK$0.0170 | 0.429% |
FAQ
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