Shanxi Lu'an Environmental Energy Stock Forecast
Shanxi Lu'an Environmental Energy stock downgraded to Sell Candidate
(Updated on Jun 21, 2024)
The Shanxi Lu'an Environmental Energy stock price fell by -0.546% on the last day (Friday, 21st Jun 2024) from $20.16 to $20.05. During the last trading day the stock fluctuated 2.94% from a day low at $19.72 to a day high of $20.30. The price has fallen in 6 of the last 10 days and is down by -9.03% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -695 thousand shares and in total, 13 million shares were bought and sold for approximately $262.08 million.
The stock has broken the wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $20.80. A reaction back to this level may hold a second chance to get out before further falls.
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601699.SS Signals & Forecast
There are few to no technical positive signals at the moment. The Shanxi Lu'an Environmental Energy 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 $21.14 and $22.16. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -15.04%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Shanxi Lu'an Environmental Energy stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.580 between high and low, or 2.94%. For the last week, the stock has had daily average volatility of 2.72%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (601699.SS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Shanxi Lu'an Environmental Energy Development Co., Ltd. to open at $20.02, and during the day (based on 14 day Average True Range), to move between $19.32 and $20.78, which gives a possible trading interval of +/-$0.729 (+/-3.64%) up or down from last closing price. If Shanxi Lu'an Environmental Energy Development Co., Ltd. takes out the full calculated possible swing range there will be an estimated 7.27% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $20.45, some $0.400 (2.00%) from the current price of $20.05, our system finds the risk reward not very attractive.
Is Shanxi Lu'an Environmental Energy Development Co., Ltd. stock A Buy?
The Shanxi Lu'an Environmental Energy stock holds several negative signals and despite the positive trend, we believe Shanxi Lu'an Environmental Energy will perform weakly in the next couple of days or weeks. Therefore, we 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 Hold/Accumulate to a Sell candidate.
Current score: -3.238 Sell Candidate Downgraded
Predicted Opening Price for Shanxi Lu'an Environmental Energy Development Co., Ltd. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $20.02 ( 0.133%) | $20.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 601699.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 20.60 | 2.76% |
| R2 | 20.38 | 1.65% |
| R1 | 20.24 | 0.97% |
| Price | 20.05 | |
| S1 | 19.80 | -1.24% |
| S2 | 19.66 | -1.92% |
| S3 | 19.44 | -3.03% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.77 | 13.57% |
| R2 | 21.40 | 6.73% |
| R1 | 20.45 | 2.00% |
| Price | 20.05 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
601699 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 19, 2024 | Jun 19, 2024 | Jun 19, 2024 | $1.59 | 7.91% |
| 2 | Jun 08, 2023 | Jun 08, 2023 | Jun 08, 2023 | $2.85 | 17.04% |
| 3 | Jun 24, 2022 | Jun 24, 2022 | Jun 24, 2022 | $0.673 | 4.92% |
| 4 | Jun 29, 2021 | Jun 29, 2021 | Jun 29, 2021 | $0.194 | 1.69% |
| 5 | Jun 29, 2020 | Jun 29, 2020 | Jun 29, 2020 | $0.239 | 4.33% |
FAQ
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