Henan Mingtai Al.Industrial Co.,Ltd. Stock Forecast
Henan Mingtai Al.Industrial Co.,Ltd. stock upgraded to Hold/Accumulate.
(Updated on Jun 28, 2024)
The Henan Mingtai Al.Industrial Co.,Ltd. stock price gained 1.67% on the last trading day (Friday, 28th Jun 2024), rising from $11.37 to $11.56. During the last trading day the stock fluctuated 3.63% from a day low at $11.31 to a day high of $11.72. The price has fallen in 5 of the last 10 days and is down by -3.34% for this period. Volume fell on the last day by -2 million shares and in total, 8 million shares were bought and sold for approximately $90.61 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 $11.34 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -2.06% during the next 3 months and, with a 90% probability hold a price between $11.11 and $13.26 at the end of this 3-month period.
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601677.SS Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 1.76%. 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 Mingtai Al.Industrial 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 $11.59 and $12.44. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Henan Mingtai Al.Industrial Co.,Ltd. stock
Henan Mingtai Al.Industrial Co.,Ltd. finds support from accumulated volume at $11.37 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 $0.410 between high and low, or 3.63%. For the last week, the stock has had daily average volatility of 3.84%.
Our recommended stop-loss: $10.95 (-5.27%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 35 days ago.)
Trading Expectations (601677.SS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Henan Mingtai Al.Industrial Co.,Ltd. to open at $11.53, and during the day (based on 14 day Average True Range), to move between $11.15 and $11.97, which gives a possible trading interval of +/-$0.407 (+/-3.52%) up or down from last closing price. If Henan Mingtai Al.Industrial Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 7.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.60 (0.35%) than the support at $11.37 (1.64%), 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.
Is Henan Mingtai Al.Industrial Co.,Ltd. stock A Buy?
Henan Mingtai Al.Industrial Co.,Ltd. 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: -0.559 Hold/Accumulate Upgraded
Predicted Opening Price for Henan Mingtai Al.Industrial Co.,Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $11.53 ( 0.260%) | $11.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 601677.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.94 | 3.29% |
| R2 | 11.78 | 1.93% |
| R1 | 11.69 | 1.10% |
| Price | 11.56 | |
| S1 | 11.37 | -1.61% |
| S2 | 11.28 | -2.45% |
| S3 | 11.12 | -3.81% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.75 | 10.29% |
| R2 | 12.29 | 6.31% |
| R1 | 11.60 | 0.346% |
| Price | 11.56 | |
| S1 | 11.37 | -1.64% |
| S2 | 11.36 | -1.73% |
| S3 | 11.27 | -2.51% |
601677 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 27, 2024 | Jun 27, 2024 | Jun 27, 2024 | $0.130 | 1.14% |
| 2 | Jun 07, 2023 | Jun 07, 2023 | Jun 07, 2023 | $0.166 | 1.25% |
| 3 | May 11, 2022 | May 11, 2022 | May 11, 2022 | $0.280 | 1.13% |
| 4 | May 14, 2021 | May 14, 2021 | May 14, 2021 | $0.143 | 1.13% |
| 5 | Jun 08, 2020 | Jun 08, 2020 | Jun 08, 2020 | $0.0714 | 1.14% |
FAQ
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