Xinji Shaxi Group Co Ltd Stock Forecast
A very red day for Xinji Shaxi Group Co Ltd stock price after a -6.56% fall in the Friday trading session
(Updated on May 24, 2024)
The Xinji Shaxi Group Co Ltd stock price fell by -6.56% on the last day (Friday, 24th May 2024) from HK$0.0610 to HK$0.0570. During the last trading day the stock fluctuated 7.02% from a day low at HK$0.0570 to a day high of HK$0.0610. The price has fallen in 4 of the last 10 days and is down by -9.52% for this period. Volume has increased on the last day by 6 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 6 million shares were bought and sold for approximately HK$360.64 thousand.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at HK$0.0595 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. 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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3603.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 7.55%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Xinji Shaxi Group Co Ltd 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 HK$0.0607 and HK$0.0785. A break-up above any of these levels will issue buy signals. Xinji Shaxi Group Co Ltd gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
A buy signal from a double bottom formation was found on Thursday, May 02, 2024 and based on theory for this formation the price should go up by 27.60% to HK$0.0727 within 15 trading days since signal was issued (Monday, May 27, 2024).
Support, Risk & Stop-loss for Xinji Shaxi Group Co Ltd stock
Xinji Shaxi Group Co Ltd finds support from accumulated volume at HK$0.0560 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 HK$0.0040 between high and low, or 7.02%. For the last week, the stock has had daily average volatility of 4.79%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (3603.HK) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect Xinji Shaxi Group Co Ltd to open at HK$0.0583, and during the day (based on 14 day Average True Range), to move between HK$0.0501 and HK$0.0639, which gives a possible trading interval of +/-HK$0.0069 (+/-12.15%) up or down from last closing price. If Xinji Shaxi Group Co Ltd takes out the full calculated possible swing range there will be an estimated 24.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$0.0560 (1.75%) than the resistance at HK$0.0610 (7.02%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Xinji Shaxi Group Co Ltd will release earnings BMO on Thursday, May 30, 2024. We will update the financials statements for Xinji Shaxi Group Co Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.73% in the first trading day after earnings release.
Is Xinji Shaxi Group Co Ltd stock A Buy?
Xinji Shaxi Group Co Ltd holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.995 Sell Candidate Unchanged
Predicted Opening Price for Xinji Shaxi Group Co Ltd of Monday, May 27, 2024
| Fair opening price May 27, 2024 | Current price |
|---|---|
| HK$0.0583 ( 2.34%) | HK$0.0570 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3603.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0623 | 9.36 % | |
| R2 | 0.0608 | 6.68 % | ||
| R1 | 0.0599 | 5.02 % | ||
| Current price: | 0.0570 | |||
| Support | S1 | 0.0568 | -0.342 % | |
| S2 | 0.0559 | -2.00 % | ||
| S3 | 0.0543 | -4.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0630 | 10.53 % | |
| R2 | 0.0620 | 8.77 % | ||
| R1 | 0.0610 | 7.02 % | ||
| Current price | 0.0570 | |||
| Support | S1 | 0.0560 | -1.75% | |
| S2 | 0.0540 | -5.26% | ||
| S3 | 0.0530 | -7.02% |
3603 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 20, 2020 | Jun 08, 2020 | Jun 26, 2020 | HK$0.0140 | 0.505% |
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