Shenyang Jinshan Energy Co., Ltd. Stock Forecast
Shenyang Jinshan Energy Co., Ltd. stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Jun 28, 2024)
The Shenyang Jinshan Energy Co., Ltd. stock price gained 0.743% on the last trading day (Friday, 28th Jun 2024), rising from $2.69 to $2.71. During the last trading day the stock fluctuated 3.40% from a day low at $2.65 to a day high of $2.74. The price has fallen in 6 of the last 10 days and is down by -6.55% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 million more shares were traded than the day before. In total, 23 million shares were bought and sold for approximately $62.33 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $2.70 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 14.18% during the next 3 months and, with a 90% probability hold a price between $3.08 and $4.45 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
600396.SS Signals & Forecast
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. The Shenyang Jinshan Energy 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 $2.77 and $3.10. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 29, 2024, and so far it has fallen -27.35%. 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 Shenyang Jinshan Energy Co., Ltd. stock
Shenyang Jinshan Energy Co., Ltd. finds support from accumulated volume at $2.69 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 $0.0900 between high and low, or 3.40%. For the last week, the stock has had daily average volatility of 3.70%.
Shenyang Jinshan Energy Co., Ltd. is oversold on RSI14 (26). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (600396.SS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Shenyang Jinshan Energy Co., Ltd. to open at $2.70, and during the day (based on 14 day Average True Range), to move between $2.56 and $2.86, which gives a possible trading interval of +/-$0.147 (+/-5.42%) up or down from last closing price. If Shenyang Jinshan Energy Co., Ltd. takes out the full calculated possible swing range there will be an estimated 10.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.69 (0.74%) than the resistance at $2.87 (5.90%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Shenyang Jinshan Energy Co., Ltd. stock A Buy?
The Shenyang Jinshan Energy Co., Ltd. stock holds several negative signals and despite the positive trend, we believe Shenyang Jinshan Energy Co., Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -4.568 Sell Candidate Downgraded
Predicted Opening Price for Shenyang Jinshan Energy Co., Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $2.70 ( 0.369%) | $2.71 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600396.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.79 | 2.95% |
| R2 | 2.76 | 1.68% |
| R1 | 2.73 | 0.90% |
| Price | 2.71 | |
| S1 | 2.67 | -1.64% |
| S2 | 2.64 | -2.42% |
| S3 | 2.61 | -3.69% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.29 | 21.40% |
| R2 | 3.08 | 13.65% |
| R1 | 2.87 | 5.90% |
| Price | 2.71 | |
| S1 | 2.69 | -0.738% |
| S2 | 2.60 | -4.06% |
| S3 | 2.50 | -7.75% |
600396 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 26, 2017 | Jul 26, 2017 | Jul 26, 2017 | $0.0050 | 0.132% |
| 2 | Jul 12, 2016 | Jul 12, 2016 | Jul 12, 2016 | $0.0550 | 1.05% |
| 3 | Jul 15, 2015 | Jul 15, 2015 | Jul 15, 2015 | $0.100 | 1.27% |
| 4 | May 16, 2014 | May 16, 2014 | May 16, 2014 | $0.0750 | 1.35% |
| 5 | Jul 25, 2013 | Jul 25, 2013 | Jul 25, 2013 | $0.0500 | 1.57% |
FAQ
Click here for our free guide on how to buy Shenyang Jinshan Energy Co., Ltd. Stock.
