Hebei Sitong New Metal Material Co Ltd Stock Forecast
Hebei Sitong New Metal Material Co Ltd stock price ended at ¥20.24 on Monday, after gaining 2.58%.
(Updated on May 06, 2024)
The Hebei Sitong New Metal Material Co Ltd stock price gained 2.58% on the last trading day (Monday, 6th May 2024), rising from ¥19.73 to ¥20.24. During the last trading day the stock fluctuated 2.27% from a day low at ¥19.83 to a day high of ¥20.28. The price has risen in 8 of the last 10 days and is up by 15.2% 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, 1 million more shares were traded than the day before. In total, 12 million shares were bought and sold for approximately ¥235.26 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 ¥19.97, a level that may pose a second chance to hit a runner. According to fan-theory ¥22.83 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 ¥19.58 and ¥18.21. 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 21.63%. 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 ¥20.11 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 ¥0.450 between high and low, or 2.27%. For the last week, the stock has had daily average volatility of 7.33%.
Our recommended stop-loss: ¥19.50 (-3.68%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (300428.SZ) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Hebei Sitong New Metal Material Co Ltd to open at ¥20.12, and during the day (based on 14 day Average True Range), to move between ¥19.19 and ¥21.29, which gives a possible trading interval of +/-¥1.05 (+/-5.17%) 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 10.35% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ¥20.11, some ¥0.130 (0.64%) from the current price of ¥20.24, our system finds the risk reward attractive.
Is Hebei Sitong New Metal Material Co Ltd stock A Buy?
Several short-term signals, along with a general good trend, are positive and the stock has broken the rising trend up, which indicates an even stronger rate of rising. We can conclude that the current level may hold a buying opportunity as there is a fair chance for Hebei Sitong New Metal Material Co Ltd stock to perform well in the short-term period. Due to a possible false trend-break listing stock as pure buy candidate is held back.
Current score: 4.556 Buy Candidate Unchanged
Predicted Opening Price for Hebei Sitong New Metal Material Co Ltd of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| ¥20.12 ( 0.609%) | ¥20.24 |
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 | 20.57 | 1.61 % | |
| R2 | 20.39 | 0.765 % | ||
| R1 | 20.29 | 0.240 % | ||
| Current price: | 20.24 | |||
| Support | S1 | 19.94 | -1.46 % | |
| S2 | 19.84 | -1.98 % | ||
| S3 | 19.67 | -2.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 20.24 | |||
| Support | S1 | 20.11 | -0.642% | |
| S2 | 19.67 | -2.82% | ||
| S3 | 19.63 | -3.01% |
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% |
FAQ
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