Ningbo Kangqiang Electronics Co., Ltd. Stock Forecast
Evaluation of Ningbo Kangqiang Electronics Co., Ltd. stock downgraded after the last trading session.
(Updated on Jul 03, 2024)
The Ningbo Kangqiang Electronics Co., Ltd. stock price gained 0.363% on the last trading day (Wednesday, 3rd Jul 2024), rising from ¥11.01 to ¥11.05. During the last trading day the stock fluctuated 4.10% from a day low at ¥10.74 to a day high of ¥11.18. The price has fallen in 6 of the last 10 days and is down by -13.74% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 million more shares were traded than the day before. In total, 18 million shares were bought and sold for approximately ¥204.18 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Ningbo Kangqiang Electronics Co., Ltd. stock with a 90% probability to be traded between ¥10.07 and ¥12.97 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
002119.SZ Signals & Forecast
The Ningbo Kangqiang Electronics Co., Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ¥11.02 and ¥10.99. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 3.27%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Ningbo Kangqiang Electronics Co., Ltd. stock
Ningbo Kangqiang Electronics Co., Ltd. finds support from accumulated volume at ¥11.00 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 ¥0.440 between high and low, or 4.10%. For the last week, the stock has had daily average volatility of 5.77%.
Our recommended stop-loss: ¥10.45 (-5.41%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (002119.SZ) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Ningbo Kangqiang Electronics Co., Ltd. to open at ¥10.99, and during the day (based on 14 day Average True Range), to move between ¥10.18 and ¥11.92, which gives a possible trading interval of +/-¥0.87 (+/-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 15.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥11.09 (0.36%) than the support at ¥11.00 (0.45%), 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 Ningbo Kangqiang Electronics Co., Ltd. stock A Buy?
Ningbo Kangqiang Electronics Co., Ltd. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Ningbo Kangqiang Electronics Co., Ltd. of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| ¥10.99 ( 0.543%) | ¥11.05 |
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 | 11.43 | 3.44% |
| R2 | 11.26 | 1.92% |
| R1 | 11.16 | 0.98% |
| Price | 11.05 | |
| S1 | 10.82 | -2.06% |
| S2 | 10.72 | -3.00% |
| S3 | 10.55 | -4.52% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.08 | 18.37% |
| R2 | 12.36 | 11.86% |
| R1 | 11.09 | 0.362% |
| Price | 11.05 | |
| S1 | 11.00 | -0.452% |
| S2 | 10.48 | -5.16% |
| S3 | 10.28 | -6.97% |
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% |
FAQ
Click here for our free guide on how to buy Ningbo Kangqiang Electronics Co., Ltd. Stock.
