Luoyang Xinqianglian Slewing Bearing Stock Forecast
Luoyang Xinqianglian Slewing Bearing stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)
The Luoyang Xinqianglian Slewing Bearing stock price fell by -0.530% on the last day (Friday, 28th Jun 2024) from ¥15.10 to ¥15.02. During the last trading day the stock fluctuated 3.74% from a day low at ¥14.96 to a day high of ¥15.52. The price has fallen in 8 of the last 10 days and is down by -13.28% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 million shares and in total, 6 million shares were bought and sold for approximately ¥82.82 million.
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 -25.21% during the next 3 months and, with a 90% probability hold a price between ¥10.47 and ¥11.63 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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300850.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 2.32%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Luoyang Xinqianglian Slewing Bearing 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 ¥15.16 and ¥17.30. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Luoyang Xinqianglian Slewing Bearing stock
Luoyang Xinqianglian Slewing Bearing finds support from accumulated volume at ¥14.73 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 ¥0.560 between high and low, or 3.74%. For the last week, the stock has had daily average volatility of 6.00%.
Our recommended stop-loss: ¥14.13 (-5.95%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (300850.SZ) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Luoyang Xinqianglian Slewing Bearing Co., Ltd. to open at ¥15.17, and during the day (based on 14 day Average True Range), to move between ¥13.95 and ¥16.09, which gives a possible trading interval of +/-¥1.07 (+/-7.15%) up or down from last closing price. If Luoyang Xinqianglian Slewing Bearing Co., Ltd. takes out the full calculated possible swing range there will be an estimated 14.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥14.73 (1.93%) than the resistance at ¥15.54 (3.46%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Luoyang Xinqianglian Slewing Bearing Co., Ltd. stock A Buy?
Luoyang Xinqianglian Slewing Bearing holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.415 Hold/Accumulate Upgraded
Predicted Opening Price for Luoyang Xinqianglian Slewing Bearing Co., Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ¥15.17 ( 0.98%) | ¥15.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300850.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.73 | 4.70% |
| R2 | 15.51 | 3.28% |
| R1 | 15.38 | 2.40% |
| Price | 15.02 | |
| S1 | 14.95 | -0.448% |
| S2 | 14.82 | -1.33% |
| S3 | 14.61 | -2.75% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.66 | 17.58% |
| R2 | 15.76 | 4.93% |
| R1 | 15.54 | 3.46% |
| Price | 15.02 | |
| S1 | 14.73 | -1.93% |
| S2 | 14.68 | -2.26% |
| S3 | 0 | - |
300850 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 21, 2024 | May 21, 2024 | May 21, 2024 | ¥0.104 | 0.536% |
| 2 | May 11, 2023 | May 11, 2023 | May 11, 2023 | ¥0.0960 | 0.236% |
| 3 | May 23, 2022 | May 23, 2022 | May 23, 2022 | ¥0.266 | 0.315% |
| 4 | May 07, 2021 | May 07, 2021 | May 07, 2021 | ¥0.142 | 0.313% |
FAQ
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