Shandong Nanshan Aluminium Co.,Ltd. Stock Forecast
Stronger technical forecast for Shandong Nanshan Aluminium Co.,Ltd. stock price after Tuesday trading.
(Updated on Jun 25, 2024)
The Shandong Nanshan Aluminium Co.,Ltd. stock price gained 1.89% on the last trading day (Tuesday, 25th Jun 2024), rising from $3.71 to $3.78. During the last trading day the stock fluctuated 3.23% from a day low at $3.72 to a day high of $3.84. The price has risen in 6 of the last 10 days and is up by 0.53% 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, 6 million more shares were traded than the day before. In total, 101 million shares were bought and sold for approximately $382.63 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 12.14% during the next 3 months and, with a 90% probability hold a price between $3.99 and $4.56 at the end of this 3-month period.
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600219.SS Signals & Forecast
The Shandong Nanshan Aluminium Co.,Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $3.77 and $3.77. A breakdown below any of these levels will issue sell signals. 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 Wednesday, May 29, 2024, and so far it has fallen -3.82%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Shandong Nanshan Aluminium Co.,Ltd. stock
Shandong Nanshan Aluminium Co.,Ltd. finds support from accumulated volume at $3.71 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.120 between high and low, or 3.23%. For the last week the stock has had daily average volatility of 2.73%.
Our recommended stop-loss: $3.56 (-5.78%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 41 days ago.)
Trading Expectations (600219.SS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Shandong Nanshan Aluminium Co.,Ltd. to open at $3.78, and during the day (based on 14 day Average True Range), to move between $3.67 and $3.89, which gives a possible trading interval of +/-$0.111 (+/-2.93%) up or down from last closing price. If Shandong Nanshan Aluminium Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 5.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.80 (0.53%) than the support at $3.71 (1.85%), 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 Shandong Nanshan Aluminium Co.,Ltd. stock A Buy?
Shandong Nanshan Aluminium Co.,Ltd. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: -0.439 Hold/Accumulate Upgraded
Predicted Opening Price for Shandong Nanshan Aluminium Co.,Ltd. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $3.78 ( 0%) | $3.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600219.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.90 | 3.17% |
| R2 | 3.85 | 1.96% |
| R1 | 3.83 | 1.21% |
| Price | 3.78 | |
| S1 | 3.73 | -1.21% |
| S2 | 3.71 | -1.96% |
| S3 | 3.66 | -3.17% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.83 | 1.32% |
| R2 | 3.81 | 0.794% |
| R1 | 3.80 | 0.529% |
| Price | 3.78 | |
| S1 | 3.71 | -1.85% |
| S2 | 3.60 | -4.76% |
| S3 | 3.59 | -5.03% |
600219 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 23, 2024 | Apr 23, 2024 | Apr 23, 2024 | $0.120 | 3.69% |
| 2 | Jun 16, 2023 | Jun 16, 2023 | Jun 16, 2023 | $0.0400 | 1.30% |
| 3 | Jun 17, 2022 | Jun 17, 2022 | Jun 17, 2022 | $0.0630 | 1.74% |
| 4 | Jul 14, 2021 | Jul 14, 2021 | Jul 14, 2021 | $0.0550 | 1.23% |
| 5 | Jun 24, 2020 | Jun 24, 2020 | Jun 24, 2020 | $0.0500 | 2.48% |
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