Shandong Xinchao Energy Corp Ltd Stock Forecast
Green day on Tuesday for Shandong Xinchao Energy Corp Ltd
(Updated on Jun 25, 2024)
The Shandong Xinchao Energy Corp Ltd stock price gained 2.22% on the last trading day (Tuesday, 25th Jun 2024), rising from $1.80 to $1.84. During the last trading day the stock fluctuated 3.91% from a day low at $1.79 to a day high of $1.86. The price has risen in 8 of the last 10 days and is up by 22.67% over the past 2 weeks. Volume fell on the last day by -7 million shares and in total, 61 million shares were bought and sold for approximately $112.19 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.
Given the current short-term trend, the stock is expected to fall -40.26% during the next 3 months and, with a 90% probability hold a price between $0.768 and $1.10 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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600777.SS Signals & Forecast
Mostly positive signals in the chart today. The Shandong Xinchao Energy Corp 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 $1.76 and $1.78. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 22.67%. 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.
Support, Risk & Stop-loss for Shandong Xinchao Energy Corp Ltd stock
Shandong Xinchao Energy Corp Ltd finds support from accumulated volume at $1.79 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 $0.0700 between high and low, or 3.91%. For the last week, the stock has had daily average volatility of 4.69%.
Our recommended stop-loss: $1.78 (-3.48%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 25 days ago.)
Trading Expectations (600777.SS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Shandong Xinchao Energy Corporation Limited to open at $1.83, and during the day (based on 14 day Average True Range), to move between $1.75 and $1.93, which gives a possible trading interval of +/-$0.0923 (+/-5.02%) up or down from last closing price. If Shandong Xinchao Energy Corporation Limited takes out the full calculated possible swing range there will be an estimated 10.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.79 (2.72%) than the resistance at $2.24 (21.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Shandong Xinchao Energy Corporation Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.703 Buy Candidate Unchanged
Predicted Opening Price for Shandong Xinchao Energy Corporation Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $1.83 ( 0.543%) | $1.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600777.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.90 | 3.26% |
| R2 | 1.87 | 1.81% |
| R1 | 1.86 | 0.91% |
| Price | 1.84 | |
| S1 | 1.80 | -2.00% |
| S2 | 1.79 | -2.89% |
| S3 | 1.76 | -4.35% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.29 | 24.46% |
| R2 | 2.27 | 23.37% |
| R1 | 2.24 | 21.74% |
| Price | 1.84 | |
| S1 | 1.79 | -2.72% |
| S2 | 1.78 | -3.26% |
| S3 | 1.58 | -14.13% |
600777 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 22, 2010 | Jun 22, 2010 | Jun 22, 2010 | $0.0053 | 0.277% |
| 2 | Jul 29, 2004 | Jul 29, 2004 | Jul 29, 2004 | $0.0038 | 0.664% |
| 3 | Jul 09, 2002 | Jul 09, 2002 | Jul 09, 2002 | $0.0193 | 1.85% |
| 4 | Apr 27, 2001 | Apr 27, 2001 | Apr 27, 2001 | $0.0145 | 1.03% |
FAQ
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