Shanxi Lu'an Environmental Energy Stock Forecast
Shanxi Lu'an Environmental Energy stock price down 1.17% on Thursday
(Updated on Jul 04, 2024)
The Shanxi Lu'an Environmental Energy stock price fell by -1.17% on the last day (Thursday, 4th Jul 2024) from $17.88 to $17.67. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.61% from a day low at $17.60 to a day high of $18.06. The price has fallen in 8 of the last 10 days and is down by -12.35% 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 -751 thousand shares and in total, 14 million shares were bought and sold for approximately $255.90 million.
The stock has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($18.47) are considered to be a "second chance" to get out. According to the fan-theory $14.80 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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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 $18.21 and $21.23. 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 -25.13%. 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 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 $0.460 between high and low, or 2.61%. For the last week, the stock has had daily average volatility of 3.26%.
Shanxi Lu'an Environmental Energy is oversold on RSI14 (15). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
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 Friday 5th
For the upcoming trading day on Friday, 5th we expect Shanxi Lu'an Environmental Energy Development Co., Ltd. to open at $17.78, and during the day (based on 14 day Average True Range), to move between $16.99 and $18.35, which gives a possible trading interval of +/-$0.684 (+/-3.87%) 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 7.74% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $21.40, some $3.73 (21.11%) from the current price of $17.67, our system finds the risk reward not very attractive.
Is Shanxi Lu'an Environmental Energy Development Co., Ltd. stock A Buy?
Shanxi Lu'an Environmental Energy 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.
Current score: -4.254 Sell Candidate Unchanged
Predicted Opening Price for Shanxi Lu'an Environmental Energy Development Co., Ltd. of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| $17.78 ( 0.604%) | $17.67 |
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 | 18.24 | 3.21% |
| R2 | 18.06 | 2.21% |
| R1 | 17.95 | 1.60% |
| Price | 17.67 | |
| S1 | 17.60 | -0.391% |
| S2 | 17.49 | -1.01% |
| S3 | 17.32 | -2.00% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.87 | 23.77% |
| R2 | 21.77 | 23.20% |
| R1 | 21.40 | 21.11% |
| Price | 17.67 | |
| 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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