Shenzhen Zhongjin Lingnan Nfmt Co Ltd Stock Forecast
Shenzhen Zhongjin Lingnan Nfmt Co Ltd stock downgraded to Sell Candidate
(Updated on Apr 30, 2024)
The Shenzhen Zhongjin Lingnan Nfmt Co Ltd stock price fell by -1.25% on the last day (Tuesday, 30th Apr 2024) from ¥4.79 to ¥4.73. During the last trading day the stock fluctuated 5.64% from a day low at ¥4.61 to a day high of ¥4.87. The price has been going up and down for this period, and there has been a 1.72% gain for the last 2 weeks. 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 -5 million shares and in total, 70 million shares were bought and sold for approximately ¥329.09 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 20.35% during the next 3 months and, with a 90% probability hold a price between ¥5.45 and ¥6.29 at the end of this 3-month period.
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000060.SZ Signals & Forecast
The Shenzhen Zhongjin Lingnan Nfmt Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥4.68 and ¥4.73. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -6.15%. 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 Shenzhen Zhongjin Lingnan Nfmt Co Ltd stock
Shenzhen Zhongjin Lingnan Nfmt Co Ltd finds support from accumulated volume at ¥4.71 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 ¥0.260 between high and low, or 5.64%. For the last week, the stock has had daily average volatility of 6.91%.
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 Monday 6th
For the upcoming trading day on Monday, 6th we expect Shenzhen Zhongjin Lingnan Nfmt Co Ltd to open at ¥4.74, and during the day (based on 14 day Average True Range), to move between ¥4.45 and ¥5.01, which gives a possible trading interval of +/-¥0.276 (+/-5.84%) 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 11.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥4.71 (0.42%) than the resistance at ¥4.94 (4.44%), 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?
Shenzhen Zhongjin Lingnan Nfmt Co Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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 Buy to a Sell candidate.
Current score: -1.833 Sell Candidate Downgraded
Predicted Opening Price for Shenzhen Zhongjin Lingnan Nfmt Co Ltd of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
¥4.74 ( 0.141%) | ¥4.73 |
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 | 5.00 | 5.64 % | |
R2 | 4.90 | 3.54 % | ||
R1 | 4.84 | 2.24 % | ||
Current price: | 4.73 | |||
Support | S1 | 4.64 | -1.96 % | |
S2 | 4.58 | -3.26 % | ||
S3 | 4.48 | -5.36 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 5.02 | 6.13 % | |
R2 | 4.97 | 5.07 % | ||
R1 | 4.94 | 4.44 % | ||
Current price | 4.73 | |||
Support | S1 | 4.71 | -0.423% | |
S2 | 4.69 | -0.85% | ||
S3 | 4.29 | -9.30% |
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
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