Henan Dayou Energy Co., Ltd Stock Forecast
Green day on Tuesday for Henan Dayou Energy Co., Ltd
(Updated on Jun 25, 2024)
The Henan Dayou Energy Co., Ltd stock price gained 1.98% on the last trading day (Tuesday, 25th Jun 2024), rising from $2.53 to $2.58. During the last trading day the stock fluctuated 4.80% from a day low at $2.50 to a day high of $2.62. The price has fallen in 7 of the last 10 days and is down by -7.86% for this period. Volume fell on the last day by -5 million shares and in total, 10 million shares were bought and sold for approximately $24.79 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 stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $2.52 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -18.78% during the next 3 months and, with a 90% probability hold a price between $2.05 and $2.42 at the end of this 3-month period. 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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600403.SS Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 1.98%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Henan Dayou 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 $2.71 and $2.98. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Henan Dayou Energy Co., Ltd stock
Henan Dayou Energy Co., Ltd finds support from accumulated volume at $2.53 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 $0.120 between high and low, or 4.80%. For the last week, the stock has had daily average volatility of 4.41%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (600403.SS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Henan Dayou Energy Co., Ltd to open at $2.57, and during the day (based on 14 day Average True Range), to move between $2.44 and $2.72, which gives a possible trading interval of +/-$0.137 (+/-5.32%) up or down from last closing price. If Henan Dayou Energy Co., Ltd takes out the full calculated possible swing range there will be an estimated 10.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.53 (1.94%) than the resistance at $3.00 (16.28%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Henan Dayou Energy Co., Ltd stock A Buy?
Henan Dayou Energy Co., Ltd holds several negative signals and is within a 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: -3.755 Sell Candidate Unchanged
Predicted Opening Price for Henan Dayou Energy Co., Ltd of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $2.57 ( 0.517%) | $2.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600403.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.69 | 4.13% |
| R2 | 2.64 | 2.36% |
| R1 | 2.61 | 1.26% |
| Price | 2.58 | |
| S1 | 2.52 | -2.29% |
| S2 | 2.49 | -3.39% |
| S3 | 2.45 | -5.17% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.12 | 20.93% |
| R2 | 3.08 | 19.38% |
| R1 | 3.00 | 16.28% |
| Price | 2.58 | |
| S1 | 2.53 | -1.94% |
| S2 | 0 | - |
| S3 | 0 | - |
600403 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 27, 2023 | Apr 27, 2023 | Apr 27, 2023 | $0.430 | 9.23% |
| 2 | May 12, 2022 | May 12, 2022 | May 12, 2022 | $0.350 | 7.68% |
| 3 | Aug 27, 2020 | Aug 27, 2020 | Aug 27, 2020 | $0.0097 | 0.241% |
| 4 | Aug 02, 2019 | Aug 02, 2019 | Aug 02, 2019 | $0.0820 | 2.22% |
| 5 | Jun 13, 2018 | Jun 13, 2018 | Jun 13, 2018 | $0.0610 | 1.48% |
FAQ
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