Norinco International Co Ltd. Stock Forecast
Norinco International Co Ltd. stock downgraded to Strong Sell Candidate
(Updated on May 21, 2024)
The Norinco International Co Ltd. stock price fell by -2.36% on the last day (Tuesday, 21st May 2024) from ¥12.30 to ¥12.01. During the last trading day the stock fluctuated 3.61% from a day low at ¥11.92 to a day high of ¥12.35. The price has fallen in 6 of the last 10 days and is down by -6.75% for this period. Volume has increased on the last day by 2 million 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, 10 million shares were bought and sold for approximately ¥126.10 million.
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 ¥11.71 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 14.46% during the next 3 months and, with a 90% probability hold a price between ¥13.41 and ¥15.52 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.
000065.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Norinco International 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 ¥12.38 and ¥12.11. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 18, 2024, and so far it has fallen -7.40%. 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 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 is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ¥0.430 (3.61%) between high and low. For the last week, the stock has had daily average volatility of 4.46%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000065.SZ) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Norinco International Co Ltd. to open at ¥12.09, and during the day (based on 14 day Average True Range), to move between ¥11.39 and ¥12.63, which gives a possible trading interval of +/-¥0.622 (+/-5.18%) 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 10.36% 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 (0.08%) than the resistance at ¥12.88 (7.24%), 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?
The Norinco International Co Ltd. stock holds several negative signals and despite the positive trend, we believe Norinco International Co Ltd. will perform weakly in the next couple of days or weeks. Therefore, we 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 Strong Sell candidate.
Current score: -5.110 Strong Sell Candidate Downgraded
Predicted Opening Price for Norinco International Co Ltd. of Wednesday, May 22, 2024
Fair opening price May 22, 2024 | Current price |
---|---|
¥12.09 ( 0.694%) | ¥12.01 |
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 | 12.52 | 4.27 % | |
R2 | 12.36 | 2.91 % | ||
R1 | 12.26 | 2.06 % | ||
Current price: | 12.01 | |||
Support | S1 | 11.93 | -0.674 % | |
S2 | 11.83 | -1.52 % | ||
S3 | 11.66 | -2.89 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 12.97 | 7.99 % | |
R2 | 12.90 | 7.41 % | ||
R1 | 12.88 | 7.24 % | ||
Current price | 12.01 | |||
Support | S1 | 12.00 | -0.0833% | |
S2 | 11.67 | -2.83% | ||
S3 | 11.36 | -5.41% |
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
Click here for our free guide on how to buy Norinco International Co Ltd. Stock.