Heilongjiang Agriculture Company Limited Stock Forecast
Heilongjiang Agriculture Company Limited stock upgraded to Hold/Accumulate.
(Updated on Jun 25, 2024)
The Heilongjiang Agriculture Company Limited stock price gained 0.402% on the last trading day (Tuesday, 25th Jun 2024), rising from $12.45 to $12.50. During the last trading day the stock fluctuated 1.69% from a day low at $12.45 to a day high of $12.66. The price has fallen in 7 of the last 10 days and is down by -4.21% for this period. Volume fell on the last day by -1 million shares and in total, 8 million shares were bought and sold for approximately $101.04 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 part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $12.46 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 2.99% during the next 3 months and, with a 90% probability hold a price between $12.83 and $14.34 at the end of this 3-month period.
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600598.SS Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 0.402%. Further rise is indicated until a new top pivot has been found. 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 Heilongjiang Agriculture Company Limited 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 $12.64 and $13.13. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Heilongjiang Agriculture Company Limited stock
Heilongjiang Agriculture Company Limited finds support from accumulated volume at $12.38 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 $0.210 between high and low, or 1.69%. For the last week the stock has had daily average volatility of 1.70%.
Our recommended stop-loss: $11.76 (-5.89%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (600598.SS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Heilongjiang Agriculture Company Limited to open at $12.54, and during the day (based on 14 day Average True Range), to move between $12.25 and $12.75, which gives a possible trading interval of +/-$0.255 (+/-2.04%) up or down from last closing price. If Heilongjiang Agriculture Company Limited takes out the full calculated possible swing range there will be an estimated 4.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $12.38 (0.96%) than the resistance at $12.69 (1.52%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Heilongjiang Agriculture Company Limited stock A Buy?
Heilongjiang Agriculture Company Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.299 Hold/Accumulate Upgraded
Predicted Opening Price for Heilongjiang Agriculture Company Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $12.54 ( 0.293%) | $12.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600598.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.75 | 1.97% |
| R2 | 12.67 | 1.33% |
| R1 | 12.62 | 0.94% |
| Price | 12.50 | |
| S1 | 12.46 | -0.348% |
| S2 | 12.41 | -0.745% |
| S3 | 12.33 | -1.39% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.22 | 5.76% |
| R2 | 12.91 | 3.28% |
| R1 | 12.69 | 1.52% |
| Price | 12.50 | |
| S1 | 12.38 | -0.96% |
| S2 | 12.31 | -1.52% |
| S3 | 12.04 | -3.68% |
600598 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 24, 2024 | May 24, 2024 | May 24, 2024 | $0.440 | 3.42% |
| 2 | May 25, 2023 | May 25, 2023 | May 25, 2023 | $0.420 | 3.16% |
| 3 | May 25, 2022 | May 25, 2022 | May 25, 2022 | $0.400 | 2.60% |
| 4 | May 27, 2021 | May 27, 2021 | May 27, 2021 | $0.400 | 2.60% |
| 5 | May 27, 2020 | May 27, 2020 | May 27, 2020 | $0.380 | 2.50% |
FAQ
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