Shenzhen Zhongjin Lingnan Nfmt Co Ltd Stock Forecast
Green day on Wednesday for Shenzhen Zhongjin Lingnan Nfmt Co Ltd
(Updated on Apr 24, 2024)
The Shenzhen Zhongjin Lingnan Nfmt Co Ltd stock price gained 2.88% on the last trading day (Wednesday, 24th Apr 2024), rising from ¥4.51 to ¥4.64. During the last trading day the stock fluctuated 9.13% from a day low at ¥4.49 to a day high of ¥4.90. The price has been going up and down for this period, and there has been a -6.64% loss for the last 2 weeks. Volume fell on the last day by -28 million shares and in total, 55 million shares were bought and sold for approximately ¥256.86 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 part of a 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 ¥4.52 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 22.25% during the next 3 months and, with a 90% probability hold a price between ¥5.52 and ¥6.32 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
000060.SZ Signals & Forecast
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 Shenzhen Zhongjin Lingnan Nfmt Co Ltd 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 ¥4.74 and ¥4.69. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -7.94%. 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).
Support, Risk & Stop-loss for Shenzhen Zhongjin Lingnan Nfmt Co Ltd stock
Shenzhen Zhongjin Lingnan Nfmt Co Ltd finds support from accumulated volume at ¥4.55 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 9.13%. For the last week, the stock has had daily average volatility of 6.88%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000060.SZ) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Shenzhen Zhongjin Lingnan Nfmt Co Ltd to open at ¥4.68, and during the day (based on 14 day Average True Range), to move between ¥4.37 and ¥4.91, which gives a possible trading interval of +/-¥0.273 (+/-5.87%) up or down from last closing price. If Shenzhen Zhongjin Lingnan Nfmt Co Ltd takes out the full calculated possible swing range there will be an estimated 11.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥4.55 (1.94%) than the resistance at ¥4.94 (6.47%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Shenzhen Zhongjin Lingnan Nfmt Co Ltd stock A Buy?
The Shenzhen Zhongjin Lingnan Nfmt Co Ltd stock holds several negative signals and despite the positive trend, we believe Shenzhen Zhongjin Lingnan Nfmt Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.602 Sell Candidate Unchanged
Predicted Opening Price for Shenzhen Zhongjin Lingnan Nfmt Co Ltd of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| ¥4.68 ( 0.790%) | ¥4.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000060.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.09 | 9.63 % | |
| R2 | 4.93 | 6.25 % | ||
| R1 | 4.83 | 4.17 % | ||
| Current price: | 4.64 | |||
| Support | S1 | 4.52 | -2.59 % | |
| S2 | 4.42 | -4.67 % | ||
| S3 | 4.27 | -8.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.02 | 8.19 % | |
| R2 | 4.97 | 7.11 % | ||
| R1 | 4.94 | 6.47 % | ||
| Current price | 4.64 | |||
| Support | S1 | 4.55 | -1.94% | |
| S2 | 4.47 | -3.66% | ||
| S3 | 4.29 | -7.54% |
000060 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2023 | Jun 28, 2023 | Jun 28, 2023 | ¥0.100 | 2.15% |
| 2 | Jun 14, 2022 | Jun 14, 2022 | Jun 14, 2022 | ¥0.0947 | 2.08% |
| 3 | Jun 18, 2021 | Jun 18, 2021 | Jun 18, 2021 | ¥0.0840 | 1.87% |
| 4 | May 22, 2020 | May 22, 2020 | May 22, 2020 | ¥0.0720 | 2.06% |
| 5 | May 16, 2019 | May 16, 2019 | May 16, 2019 | ¥0.0800 | 1.69% |
FAQ
Click here for our free guide on how to buy Shenzhen Zhongjin Lingnan Nfmt Co Ltd Stock.
