Xinyi Energy Holdings Limited Stock Forecast
Green day on Friday for Xinyi Energy Holdings Limited stock after gaining 0.84%
(Updated on May 17, 2024)
The Xinyi Energy Holdings Limited stock price gained 0.84% on the last trading day (Friday, 17th May 2024), rising from HK$1.19 to HK$1.20. During the last trading day the stock fluctuated 3.42% from a day low at HK$1.17 to a day high of HK$1.21. The price has risen in 6 of the last 10 days and is up by 6.19% 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, 5 million more shares were traded than the day before. In total, 17 million shares were bought and sold for approximately HK$20.44 million.
The stock lies in the upper part of a wide and weak rising 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$1.21 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 2.15% during the next 3 months and, with a 90% probability hold a price between HK$1.06 and HK$1.24 at the end of this 3-month period.
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3868.HK Signals & Forecast
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$1.17 and HK$1.11. A breakdown below any of these levels will issue sell signals. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, May 13, 2024, and so far it has fallen -0.83%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Xinyi Energy Holdings Limited stock
Xinyi Energy Holdings Limited finds support from accumulated volume at HK$1.15 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 3.42%. For the last week, the stock has had daily average volatility of 4.65%.
Our recommended stop-loss: HK$1.15 (-3.86%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (3868.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Xinyi Energy Holdings Limited to open at HK$1.19, and during the day (based on 14 day Average True Range), to move between HK$1.15 and HK$1.25, which gives a possible trading interval of +/-HK$0.0457 (+/-3.81%) 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 7.62% 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$1.21 (0.83%) than the support at HK$1.15 (4.17%), 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, along with a general good trend, 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.
Current score: 4.128 Buy Candidate Unchanged
Predicted Opening Price for Xinyi Energy Holdings Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$1.19 ( 0.556%) | HK$1.20 |
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 | 1.23 | 2.78 % | |
| R2 | 1.22 | 1.50 % | ||
| R1 | 1.21 | 0.718 % | ||
| Current price: | 1.20 | |||
| Support | S1 | 1.18 | -1.83 % | |
| S2 | 1.17 | -2.62 % | ||
| S3 | 1.15 | -3.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 1.21 | 0.83 % | ||
| Current price | 1.20 | |||
| Support | S1 | 1.15 | -4.17% | |
| S2 | 1.10 | -8.33% | ||
| S3 | 1.09 | -9.17% |
3868 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 04, 2024 | Jun 04, 2024 | Aug 07, 2024 | HK$0.0260 | 2.17% |
| 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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