China Sanjiang Fine Chemicals Co Ltd Stock Forecast
China Sanjiang Fine Chemicals Co Ltd stock price up 0.515% on Friday
(Updated on Apr 19, 2024)
The China Sanjiang Fine Chemicals Co Ltd stock price gained 0.515% on the last trading day (Friday, 19th Apr 2024), rising from HK$1.94 to HK$1.95. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.04% from a day low at HK$1.93 to a day high of HK$1.95. The price has risen in 6 of the last 10 days and is up by 10.17% over the past 2 weeks. Volume fell on the last day by -794 thousand shares and in total, 2 million shares were bought and sold for approximately HK$3.17 million. 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 middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 112.60% during the next 3 months and, with a 90% probability hold a price between HK$3.45 and HK$4.47 at the end of this 3-month period.
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2198.HK Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The China Sanjiang Fine Chemicals Co 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$1.92 and HK$1.60. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for China Sanjiang Fine Chemicals Co Ltd stock
China Sanjiang Fine Chemicals Co Ltd finds support from accumulated volume at HK$1.90 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.0200 between high and low, or 1.04%. For the last week, the stock has had daily average volatility of 1.89%.
Our recommended stop-loss: HK$1.89 (-2.92%) (This stock has high daily movements and this gives high risk. The RSI14 is 79 and this increases the risk substantially. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (2198.HK) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect China Sanjiang Fine Chemicals Company Limited to open at HK$1.94, and during the day (based on 14 day Average True Range), to move between HK$1.88 and HK$2.02, which gives a possible trading interval of +/-HK$0.0711 (+/-3.65%) up or down from last closing price. If China Sanjiang Fine Chemicals Company Limited takes out the full calculated possible swing range there will be an estimated 7.30% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$1.90, some HK$0.0500 (2.56%) from the current price of HK$1.95, our system finds the risk reward attractive.
Is China Sanjiang Fine Chemicals Company 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 China Sanjiang Fine Chemicals Co Ltd stock to perform well in the short-term.
Current score: 2.186 Buy Candidate Unchanged
Predicted Opening Price for China Sanjiang Fine Chemicals Company Limited of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| HK$1.94 ( 0.342%) | HK$1.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2198.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.96 | 0.684 % | |
| R2 | 1.96 | 0.292 % | ||
| R1 | 1.95 | 0.0499 % | ||
| Current price: | 1.95 | |||
| Support | S1 | 1.94 | -0.734 % | |
| S2 | 1.93 | -0.98 % | ||
| S3 | 1.92 | -1.37 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 1.95 | |||
| Support | S1 | 1.90 | -2.56% | |
| S2 | 1.70 | -12.82% | ||
| S3 | 1.65 | -15.38% |
2198 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 19, 2022 | May 19, 2022 | May 19, 2022 | HK$0.0600 | 4.35% |
| 2 | Sep 14, 2021 | Sep 14, 2021 | Sep 14, 2021 | HK$0.125 | 4.34% |
| 3 | Apr 29, 2021 | Apr 29, 2021 | Apr 29, 2021 | HK$0.300 | 8.26% |
| 4 | Sep 15, 2020 | Sep 15, 2020 | Sep 15, 2020 | HK$0.125 | 6.48% |
| 5 | Mar 30, 2020 | May 28, 2020 | Jun 11, 2020 | HK$0.200 | 12.58% |
FAQ
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