Hebei Sitong New Metal Material Co Ltd Stock Forecast
High volatility in Hebei Sitong New Metal Material Co Ltd stock price on Friday which ended trading at ¥19.67
(Updated on Apr 26, 2024)
The Hebei Sitong New Metal Material Co Ltd stock price gained 0.204% on the last trading day (Friday, 26th Apr 2024), rising from ¥19.63 to ¥19.67. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 14.61% from a day low at ¥18.00 to a day high of ¥20.63. The price has risen in 7 of the last 10 days and is up by 7.96% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 13 million more shares were traded than the day before. In total, 29 million shares were bought and sold for approximately ¥574.79 million.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ¥19.64, a level that may pose a second chance to hit a runner. According to fan-theory ¥23.30 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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300428.SZ Signals & Forecast
Mostly positive signals in the chart today. The Hebei Sitong New Metal Material 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 ¥18.64 and ¥17.95. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 18.21%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Hebei Sitong New Metal Material Co Ltd stock
Hebei Sitong New Metal Material Co Ltd finds support from accumulated volume at ¥19.63 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ¥2.63 between high and low, or 14.61%. For the last week, the stock has had daily average volatility of 8.50%.
Since the Hebei Sitong New Metal Material Co Ltd has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: ¥18.93 (-3.74%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (300428.SZ) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Hebei Sitong New Metal Material Co Ltd to open at ¥19.43, and during the day (based on 14 day Average True Range), to move between ¥18.55 and ¥20.79, which gives a possible trading interval of +/-¥1.12 (+/-5.68%) up or down from last closing price. If Hebei Sitong New Metal Material Co Ltd takes out the full calculated possible swing range there will be an estimated 11.36% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ¥19.63, some ¥0.0400 (0.20%) from the current price of ¥19.67, our system finds the risk reward attractive.
Is Hebei Sitong New Metal Material Co Ltd stock A Buy?
Hebei Sitong New Metal Material Co Ltd holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 5.125 Strong Buy Candidate Unchanged
Predicted Opening Price for Hebei Sitong New Metal Material Co Ltd of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ¥19.43 ( 1.20%) | ¥19.67 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300428.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.06 | 12.17 % | |
| R2 | 21.06 | 7.06 % | ||
| R1 | 20.44 | 3.90 % | ||
| Current price: | 19.67 | |||
| Support | S1 | 18.43 | -6.31 % | |
| S2 | 17.81 | -9.47 % | ||
| S3 | 16.80 | -14.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 19.67 | |||
| Support | S1 | 19.63 | -0.203% | |
| S2 | 19.08 | -3.00% | ||
| S3 | 16.38 | -16.73% |
300428 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 13, 2023 | Jun 13, 2023 | Jun 13, 2023 | ¥0.0790 | 0.354% |
| 2 | May 26, 2022 | May 26, 2022 | May 26, 2022 | ¥0.0750 | 0.339% |
| 3 | Jun 16, 2021 | Jun 16, 2021 | Jun 16, 2021 | ¥0.0840 | 0.680% |
| 4 | May 19, 2020 | May 19, 2020 | May 19, 2020 | ¥0.0870 | 0.561% |
| 5 | May 22, 2019 | May 22, 2019 | May 22, 2019 | ¥0.110 | 0.98% |
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