Norinco International Co Ltd. Stock Forecast
Red day on Tuesday for Norinco International Co Ltd.
(Updated on Apr 30, 2024)
The Norinco International Co Ltd. stock price fell by -3.35% on the last day (Tuesday, 30th Apr 2024) from ¥12.52 to ¥12.10. During the last trading day the stock fluctuated 4.21% from a day low at ¥12.10 to a day high of ¥12.61. The price has been going up and down for this period, and there has been a 0.83% gain for the last 2 weeks. Volume has increased on the last day by 346 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 16 million shares were bought and sold for approximately ¥194.82 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 19.00% during the next 3 months and, with a 90% probability hold a price between ¥13.41 and ¥15.78 at the end of this 3-month period.
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000065.SZ Signals & Forecast
The Norinco International Co Ltd. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ¥12.34. On a fall, the stock will find some support from the long-term average at approximately ¥11.74. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Thursday, April 18, 2024, and so far it has fallen -6.71%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Norinco International Co Ltd. stock
Norinco International Co Ltd. finds support from accumulated volume at ¥12.00 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 ¥0.510 between high and low, or 4.21%. For the last week, the stock has had daily average volatility of 4.78%.
Our recommended stop-loss: ¥11.57 (-4.39%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (000065.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Norinco International Co Ltd. to open at ¥12.27, and during the day (based on 14 day Average True Range), to move between ¥11.36 and ¥12.84, which gives a possible trading interval of +/-¥0.736 (+/-6.08%) up or down from last closing price. If Norinco International Co Ltd. takes out the full calculated possible swing range there will be an estimated 12.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥12.00 (0.83%) than the resistance at ¥12.45 (2.89%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Norinco International Co Ltd. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Norinco International Co Ltd. stock to perform well in the short-term.
Current score: 3.604 Buy Candidate Unchanged
Predicted Opening Price for Norinco International Co Ltd. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥12.27 ( 1.40%) | ¥12.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000065.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.78 | 5.62 % | |
| R2 | 12.59 | 4.01 % | ||
| R1 | 12.46 | 3.02 % | ||
| Current price: | 12.10 | |||
| Support | S1 | 12.08 | -0.205 % | |
| S2 | 11.95 | -1.20 % | ||
| S3 | 11.76 | -2.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.97 | 7.19 % | |
| R2 | 12.90 | 6.61 % | ||
| R1 | 12.45 | 2.89 % | ||
| Current price | 12.10 | |||
| Support | S1 | 12.00 | -0.83% | |
| S2 | 11.67 | -3.55% | ||
| S3 | 11.11 | -8.18% |
000065 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 07, 2023 | Jul 07, 2023 | Jul 07, 2023 | ¥0.0635 | 0.410% |
| 2 | Jul 11, 2022 | Jul 11, 2022 | Jul 11, 2022 | ¥0.0623 | 0.762% |
| 3 | Jun 25, 2021 | Jun 25, 2021 | Jun 25, 2021 | ¥0.0873 | 1.04% |
| 4 | Jun 03, 2020 | Jun 03, 2020 | Jun 03, 2020 | ¥0.0825 | 1.12% |
| 5 | Jun 27, 2019 | Jun 27, 2019 | Jun 27, 2019 | ¥0.0718 | 0.81% |
FAQ
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