Ningbo Kangqiang Electronics Co., Ltd. Stock Forecast
Ningbo Kangqiang Electronics Co., Ltd. stock price took a fall of -5.64% on Friday
(Updated on Jun 21, 2024)
The Ningbo Kangqiang Electronics Co., Ltd. stock price fell by -5.64% on the last day (Friday, 21st Jun 2024) from ¥12.42 to ¥11.72. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 7.87% from a day low at ¥11.56 to a day high of ¥12.47. The price has risen in 6 of the last 10 days and is up by 14.45% over the past 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 -7 million shares and in total, 42 million shares were bought and sold for approximately ¥489.92 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.44% during the next 3 months and, with a 90% probability hold a price between ¥9.55 and ¥12.47 at the end of this 3-month period.
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002119.SZ Signals & Forecast
The Ningbo Kangqiang Electronics 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 ¥12.24. On a fall, the stock will find some support from the long-term average at approximately ¥11.04. 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 Monday, June 17, 2024, and so far it has fallen -10.40%. Further fall is indicated until a new bottom pivot has been found. 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 Ningbo Kangqiang Electronics Co., Ltd. stock
Ningbo Kangqiang Electronics Co., Ltd. finds support from accumulated volume at ¥11.42 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ¥0.91 between high and low, or 7.87%. For the last week, the stock has had daily average volatility of 12.05%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002119.SZ) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Ningbo Kangqiang Electronics Co., Ltd. to open at ¥11.92, and during the day (based on 14 day Average True Range), to move between ¥10.80 and ¥12.64, which gives a possible trading interval of +/-¥0.92 (+/-7.86%) up or down from last closing price. If Ningbo Kangqiang Electronics Co., Ltd. takes out the full calculated possible swing range there will be an estimated 15.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥11.42 (2.56%) than the resistance at ¥12.36 (5.46%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ningbo Kangqiang Electronics Co., Ltd. stock A Buy?
Ningbo Kangqiang Electronics 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: -1.177 Sell Candidate Downgraded
Predicted Opening Price for Ningbo Kangqiang Electronics Co., Ltd. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ¥11.92 ( 1.68%) | ¥11.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002119.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.83 | 9.44% |
| R2 | 12.48 | 6.48% |
| R1 | 12.26 | 4.64% |
| Price | 11.72 | |
| S1 | 11.57 | -1.29% |
| S2 | 11.35 | -3.12% |
| S3 | 11.01 | -6.09% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.08 | 11.60% |
| R2 | 12.40 | 5.80% |
| R1 | 12.36 | 5.46% |
| Price | 11.72 | |
| S1 | 11.42 | -2.56% |
| S2 | 11.09 | -5.38% |
| S3 | 10.28 | -12.29% |
002119 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 19, 2024 | Jun 19, 2024 | Jun 19, 2024 | ¥0.0300 | 0.238% |
| 2 | Jun 09, 2023 | Jun 09, 2023 | Jun 09, 2023 | ¥0.0300 | 0.232% |
| 3 | Jun 17, 2022 | Jun 17, 2022 | Jun 17, 2022 | ¥0.0500 | 0.469% |
| 4 | Jul 09, 2021 | Jul 09, 2021 | Jul 09, 2021 | ¥0.0260 | 0.147% |
| 5 | Jun 11, 2020 | Jun 11, 2020 | Jun 11, 2020 | ¥0.0250 | 0.199% |
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