Inner Mongolia MengDian HuaNeng Thermal Stock Forecast
Inner Mongolia MengDian HuaNeng Thermal stock downgraded to Sell Candidate
(Updated on Jun 21, 2024)
The Inner Mongolia MengDian HuaNeng Thermal stock price fell by -1.09% on the last day (Friday, 21st Jun 2024) from $4.59 to $4.54. During the last trading day the stock fluctuated 2.43% from a day low at $4.52 to a day high of $4.63. The price has fallen in 6 of the last 10 days and is down by -3.2% for this period. Volume has increased on the last day by 3 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 66 million shares were bought and sold for approximately $301.68 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Inner Mongolia MengDian HuaNeng Thermal stock with a 90% probability to be traded between $4.37 and $4.95 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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600863.SS Signals & Forecast
There are few to no technical positive signals at the moment. The Inner Mongolia MengDian HuaNeng Thermal stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $4.59 and $4.57. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 07, 2024, and so far it has fallen -4.42%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Inner Mongolia MengDian HuaNeng Thermal stock
Inner Mongolia MengDian HuaNeng Thermal finds support from accumulated volume at $4.45 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 $0.110 between high and low, or 2.43%. For the last week the stock has had daily average volatility of 1.90%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (600863.SS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Inner Mongolia MengDian HuaNeng Thermal Power Corporation Limited to open at $4.56, and during the day (based on 14 day Average True Range), to move between $4.43 and $4.65, which gives a possible trading interval of +/-$0.110 (+/-2.42%) up or down from last closing price. If Inner Mongolia MengDian HuaNeng Thermal Power Corporation Limited takes out the full calculated possible swing range there will be an estimated 4.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.61 (1.54%) than the support at $4.45 (1.98%), 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.
Earnings coming up
Inner Mongolia MengDian HuaNeng Thermal Power Corporation Limited will release earnings BMO on Friday, June 28, 2024. We will update the financials statements for Inner Mongolia MengDian HuaNeng Thermal Power Corporation Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.69% in the first trading day after earnings release.
Is Inner Mongolia MengDian HuaNeng Thermal Power Corporation Limited stock A Buy?
Inner Mongolia MengDian HuaNeng Thermal 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -1.651 Sell Candidate Downgraded
Predicted Opening Price for Inner Mongolia MengDian HuaNeng Thermal Power Corporation Limited of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $4.56 ( 0.514%) | $4.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600863.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.67 | 2.94% |
| R2 | 4.63 | 2.01% |
| R1 | 4.61 | 1.44% |
| Price | 4.54 | |
| S1 | 4.52 | -0.412% |
| S2 | 4.50 | -0.98% |
| S3 | 4.45 | -1.91% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.68 | 3.08% |
| R2 | 4.65 | 2.42% |
| R1 | 4.61 | 1.54% |
| Price | 4.54 | |
| S1 | 4.45 | -1.98% |
| S2 | 4.43 | -2.42% |
| S3 | 4.37 | -3.74% |
600863 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 27, 2023 | Jul 27, 2023 | Jul 27, 2023 | $0.164 | 4.70% |
| 2 | Jul 28, 2022 | Jul 28, 2022 | Jul 28, 2022 | $0.100 | 2.76% |
| 3 | Jun 25, 2021 | Jun 25, 2021 | Jun 25, 2021 | $0.126 | 5.41% |
| 4 | Jul 29, 2020 | Jul 29, 2020 | Jul 29, 2020 | $0.126 | 5.02% |
| 5 | Aug 15, 2019 | Aug 15, 2019 | Aug 15, 2019 | $0.0960 | 3.05% |
FAQ
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