Ningxia Orient Tantalum Industry Co Ltd Stock Forecast
Ningxia Orient Tantalum Industry Co Ltd stock downgraded to Strong Sell Candidate
(Updated on Apr 30, 2024)
The Ningxia Orient Tantalum Industry Co Ltd stock price fell by -4.56% on the last day (Tuesday, 30th Apr 2024) from ¥11.19 to ¥10.68. During the last trading day the stock fluctuated 5.64% from a day low at ¥10.64 to a day high of ¥11.24. The price has been going up and down for this period, and there has been a 3.29% gain for the last 2 weeks. Volume has increased on the last day by 8 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, 18 million shares were bought and sold for approximately ¥188.99 million.
The stock lies in the lower part of a very 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 ¥10.41 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 22.01% during the next 3 months and, with a 90% probability hold a price between ¥12.70 and ¥16.04 at the end of this 3-month period.
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000962.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Ningxia Orient Tantalum Industry Co Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ¥10.85 and ¥11.27. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -14.76%. 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 Ningxia Orient Tantalum Industry Co Ltd stock
Ningxia Orient Tantalum Industry Co Ltd finds support from accumulated volume at ¥10.34 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 ¥0.600 between high and low, or 5.64%. For the last week, the stock has had daily average volatility of 5.54%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000962.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Ningxia Orient Tantalum Industry Co Ltd to open at ¥10.85, and during the day (based on 14 day Average True Range), to move between ¥9.93 and ¥11.43, which gives a possible trading interval of +/-¥0.754 (+/-7.06%) up or down from last closing price. If Ningxia Orient Tantalum Industry Co Ltd takes out the full calculated possible swing range there will be an estimated 14.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥10.34 (3.18%) than the resistance at ¥11.19 (4.78%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ningxia Orient Tantalum Industry Co Ltd stock A Buy?
The Ningxia Orient Tantalum Industry Co Ltd stock holds several negative signals and despite the positive trend, we believe Ningxia Orient Tantalum Industry 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 Sell to a Strong Sell candidate.
Current score: -5.257 Strong Sell Candidate Downgraded
Predicted Opening Price for Ningxia Orient Tantalum Industry Co Ltd of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥10.85 ( 1.62%) | ¥10.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000962.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.45 | 7.24 % | |
| R2 | 11.22 | 5.09 % | ||
| R1 | 11.08 | 3.77 % | ||
| Current price: | 10.68 | |||
| Support | S1 | 10.62 | -0.523 % | |
| S2 | 10.48 | -1.85 % | ||
| S3 | 10.25 | -4.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.44 | 16.48 % | |
| R2 | 12.08 | 13.11 % | ||
| R1 | 11.19 | 4.78 % | ||
| Current price | 10.68 | |||
| Support | S1 | 10.34 | -3.18% | |
| S2 | 9.78 | -8.43% | ||
| S3 | 9.43 | -11.70% |
000962 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 13, 2014 | Jun 13, 2014 | Jun 13, 2014 | ¥0.0300 | 0.324% |
| 2 | Jun 21, 2013 | Jun 21, 2013 | Jun 21, 2013 | ¥0.0400 | 0.352% |
| 3 | Jun 12, 2012 | Jun 12, 2012 | Jun 12, 2012 | ¥0.0600 | 0.403% |
| 4 | Jun 10, 2011 | Jun 10, 2011 | Jun 10, 2011 | ¥0.0458 | 0.209% |
| 5 | Jun 10, 2010 | Jun 10, 2010 | Jun 10, 2010 | ¥0.0458 | 0.298% |
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