Xinyi Energy Holdings Limited Stock Forecast
Xinyi Energy Holdings Limited stock upgraded from Hold/Accumulate to Buy Candidate after Monday trading session.
(Updated on May 06, 2024)
The Xinyi Energy Holdings Limited stock price gained 2.68% on the last trading day (Monday, 6th May 2024), rising from HK$1.12 to HK$1.15. During the last trading day the stock fluctuated 3.60% from a day low at HK$1.11 to a day high of HK$1.15. The price has risen in 6 of the last 10 days and is up by 10.58% over the past 2 weeks. Volume fell on the last day by -183 thousand shares and in total, 9 million shares were bought and sold for approximately HK$9.93 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 stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at HK$1.17 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Xinyi Energy Holdings Limited stock with a 90% probability to be traded between HK$1.04 and HK$1.18 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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3868.HK Signals & Forecast
Mostly positive signals in the chart today. The Xinyi Energy Holdings Limited 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$1.11 and HK$1.10. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 11.65%. 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 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 Xinyi Energy Holdings Limited stock
Xinyi Energy Holdings Limited finds support from accumulated volume at HK$1.10 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$0.0400 between high and low, or 3.60%. For the last week, the stock has had daily average volatility of 4.01%.
Our recommended stop-loss: HK$1.11 (-3.10%) (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 (3868.HK) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Xinyi Energy Holdings Limited to open at HK$1.14, and during the day (based on 14 day Average True Range), to move between HK$1.11 and HK$1.19, which gives a possible trading interval of +/-HK$0.0421 (+/-3.66%) up or down from last closing price. If Xinyi Energy Holdings Limited takes out the full calculated possible swing range there will be an estimated 7.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at HK$1.16 (0.87%) than the support at HK$1.10 (4.35%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Xinyi Energy Holdings Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Xinyi Energy Holdings Limited stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.264 Buy Candidate Upgraded
Predicted Opening Price for Xinyi Energy Holdings Limited of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| HK$1.14 ( 1.16%) | HK$1.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3868.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.18 | 2.32 % | |
| R2 | 1.16 | 0.99 % | ||
| R1 | 1.15 | 0.169 % | ||
| Current price: | 1.15 | |||
| Support | S1 | 1.12 | -2.49 % | |
| S2 | 1.11 | -3.31 % | ||
| S3 | 1.10 | -4.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 1.17 | 1.74 % | ||
| R1 | 1.16 | 0.87 % | ||
| Current price | 1.15 | |||
| Support | S1 | 1.10 | -4.35% | |
| S2 | 1.09 | -5.22% | ||
| S3 | 1.06 | -7.83% |
3868 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 04, 2024 | Jun 04, 2024 | Aug 07, 2024 | HK$0.0260 | 2.28% |
| 2 | Jun 06, 2023 | Jun 06, 2023 | Jun 06, 2023 | HK$0.0740 | 3.38% |
| 3 | Aug 12, 2022 | Aug 12, 2022 | Aug 12, 2022 | HK$0.0769 | 2.40% |
| 4 | Jun 07, 2022 | Jun 07, 2022 | Jun 07, 2022 | HK$0.0999 | 2.38% |
| 5 | Aug 13, 2021 | Aug 13, 2021 | Aug 13, 2021 | HK$0.0739 | 1.49% |
FAQ
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