Nanjing Red Sun Co Ltd Stock Forecast
On Wednesday, Nanjing Red Sun Co Ltd stock price gained an impressive 5.00%
(Updated on Jul 03, 2024)
The Nanjing Red Sun Co Ltd stock price gained 5.00% on the last trading day (Wednesday, 3rd Jul 2024), rising from ¥5.80 to ¥6.09. During the last trading day the stock fluctuated 7.41% from a day low at ¥5.67 to a day high of ¥6.09. The price has fallen in 6 of the last 10 days and is down by -3.18% for this period. Volume fell on the last day by -307 thousand shares and in total, 10 million shares were bought and sold for approximately ¥58.45 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 the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ¥6.10 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -35.64% during the next 3 months and, with a 90% probability hold a price between ¥2.41 and ¥3.93 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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000525.SZ Signals & Forecast
Mostly positive signals in the chart today. A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 18.48%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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.
Support, Risk & Stop-loss for Nanjing Red Sun Co Ltd stock
Nanjing Red Sun Co Ltd finds support from accumulated volume at ¥5.99 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 ¥0.420 between high and low, or 7.41%. For the last week, the stock has had daily average volatility of 6.01%.
Our recommended stop-loss: ¥5.88 (-3.50%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 52 days ago.)
Trading Expectations (000525.SZ) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Nanjing Red Sun Co Ltd to open at ¥5.95, and during the day (based on 14 day Average True Range), to move between ¥5.63 and ¥6.55, which gives a possible trading interval of +/-¥0.456 (+/-7.49%) up or down from last closing price. If Nanjing Red Sun Co Ltd takes out the full calculated possible swing range there will be an estimated 14.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥6.13 (0.66%) than the support at ¥5.99 (1.64%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Nanjing Red Sun Co Ltd stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.627 Buy Candidate Upgraded
Predicted Opening Price for Nanjing Red Sun Co Ltd of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| ¥5.95 ( 2.30%) | ¥6.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000525.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.37 | 4.60% |
| R2 | 6.21 | 1.96% |
| R1 | 6.11 | 0.336% |
| Price | 6.09 | |
| S1 | 5.79 | -4.93% |
| S2 | 5.69 | -6.56% |
| S3 | 5.53 | -9.20% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.91 | 13.46% |
| R2 | 6.25 | 2.63% |
| R1 | 6.13 | 0.657% |
| Price | 6.09 | |
| S1 | 5.99 | -1.64% |
| S2 | 5.95 | -2.30% |
| S3 | 5.40 | -11.33% |
000525 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 19, 2019 | Jul 19, 2019 | Jul 19, 2019 | ¥0.150 | 1.18% |
| 2 | Jul 06, 2018 | Jul 06, 2018 | Jul 06, 2018 | ¥0.500 | 3.14% |
| 3 | Jul 07, 2017 | Jul 07, 2017 | Jul 07, 2017 | ¥0.300 | 1.60% |
| 4 | Jun 08, 2016 | Jun 08, 2016 | Jun 08, 2016 | ¥0.500 | 4.03% |
| 5 | May 21, 2015 | May 21, 2015 | May 21, 2015 | ¥0.150 | 0.698% |
FAQ
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