Shandong Chenming Paper Holdings Limited Stock Forecast

Shandong Chenming Paper Holdings Limited stock upgraded to Buy Candidate.
(Updated on May 17, 2024)

1812.HK Signals & Forecast

The Shandong Chenming Paper Holdings 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$1.99 and HK$1.81. 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 Thursday, May 16, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.

Support, Risk & Stop-loss for Shandong Chenming Paper Holdings Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$1.81 and HK$1.78. 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, Shandong Chenming Paper Holdings Limited finds support just below today's level at HK$1.81. If this is broken, then the next support from accumulated volume will be at HK$1.78 and HK$1.77.

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$0.0600 between high and low, or 2.94%. For the last week, the stock has had daily average volatility of 5.17%.

Our recommended stop-loss: HK$2.01 (-3.52%) (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 (1812.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Shandong Chenming Paper Holdings Limited to open at HK$2.07, and during the day (based on 14 day Average True Range), to move between HK$2.00 and HK$2.16, which gives a possible trading interval of +/-HK$0.0825 (+/-3.97%) up or down from last closing price. If Shandong Chenming Paper Holdings Limited takes out the full calculated possible swing range there will be an estimated 7.93% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ HK$1.81, some HK$0.270 (12.98%) from the current price of HK$2.08, our system finds the risk reward attractive.

Is Shandong Chenming Paper Holdings Limited 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 Shandong Chenming Paper Holdings Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.840 Buy Candidate Upgraded

Predicted Opening Price for Shandong Chenming Paper Holdings Limited of Monday, May 20, 2024

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