Yulong Eco-Materials Limited Stock Forecast
Big movements in Yulong Eco-Materials Limited stock price on Thursday moving 42.73% between high and low
(Updated on Dec 13, 2018)
The Yulong Eco-Materials Limited stock price gained 13.90% on the last trading day (Thursday, 13th Dec 2018), rising from $4.46 to $5.08. During the last trading day the stock fluctuated 42.73% from a day low at $4.61 to a day high of $6.58. The price has been going up and down for this period, and there has been a -13.01% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 million more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately $23.88 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $4.62 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 54.62% during the next 3 months and, with a 90% probability hold a price between $7.14 and $23.19 at the end of this 3-month period.
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YECO Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, December 11, 2018, and so far it has risen 14.16%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Yulong Eco-Materials Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $5.70. On a fall, the stock will find some support from the short-term average at $4.88. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Yulong Eco-Materials Limited stock
Yulong Eco-Materials Limited finds support from accumulated volume at $5.06 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 $1.97 between high and low, or 42.73%. For the last week the stock has had daily average volatility of 16.11%.
Our recommended stop-loss: $4.80 (-5.58%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (YECO) For The Upcoming Trading Day Of Friday 14th
For the upcoming trading day on Friday, 14th we expect Yulong Eco-Materials Limited to open at $5.42, and during the day (based on 14 day Average True Range), to move between $4.16 and $6.00, which gives a possible trading interval of +/-$0.92 (+/-18.19%) up or down from last closing price. If Yulong Eco-Materials Limited takes out the full calculated possible swing range there will be an estimated 36.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.06 (0.39%) than the resistance at $5.45 (7.28%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Yulong Eco-Materials Limited stock A Buy?
Yulong Eco-Materials Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: -0.454 Hold/Accumulate Upgraded
Predicted Opening Price for Yulong Eco-Materials Limited of Friday, December 14, 2018
| Fair opening price December 14, 2018 | Current price |
|---|---|
| $5.42 ( 6.76%) | $5.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for YECO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.39 | 45.54 % | |
| R2 | 6.64 | 30.72 % | ||
| R1 | 6.18 | 21.57 % | ||
| Current price: | 5.08 | |||
| Support | S1 | 4.67 | -8.06 % | |
| S2 | 4.21 | -17.21 % | ||
| S3 | 3.45 | -32.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.20 | 22.05 % | |
| R2 | 6.16 | 21.26 % | ||
| R1 | 5.45 | 7.28 % | ||
| Current price | 5.08 | |||
| Support | S1 | 5.06 | -0.394% | |
| S2 | 4.61 | -9.25% | ||
| S3 | 4.32 | -14.96% |
FAQ
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