Ningbo Ligong Envrmnt & Enrg Tech Co Ltd Stock Forecast
Evaluation of Ningbo Ligong Envrmnt & Enrg Tech Co Ltd stock downgraded after the last trading session.
(Updated on May 17, 2024)
No changes to the price of Ningbo Ligong Envrmnt & Enrg Tech Co Ltd stock on the last trading day (Friday, 17th May 2024). During the last trading day the stock fluctuated 3.31% from a day low at ¥14.19 to a day high of ¥14.66. The price has risen in 5 of the last 10 days and is up by 1.35% over the past 2 weeks.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 35.72% during the next 3 months and, with a 90% probability hold a price between ¥19.03 and ¥20.65 at the end of this 3-month period.
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002322.SZ Signals & Forecast
The Ningbo Ligong Envrmnt & Enrg Tech 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 ¥14.64. On a fall, the stock will find some support from the long-term average at approximately ¥14.04. 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 Tuesday, May 14, 2024, and so far it has fallen -4.73%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.
Support, Risk & Stop-loss for Ningbo Ligong Envrmnt & Enrg Tech Co Ltd stock
Ningbo Ligong Envrmnt & Enrg Tech Co Ltd finds support from accumulated volume at ¥14.00 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 ¥0.470 between high and low, or 3.31%. For the last week, the stock has had daily average volatility of 3.58%.
Our recommended stop-loss: ¥13.50 (-5.61%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (002322.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Ningbo Ligong Envrmnt & Enrg Tech Co Ltd to open at ¥14.38, and during the day (based on 14 day Average True Range), to move between ¥13.68 and ¥14.92, which gives a possible trading interval of +/-¥0.618 (+/-4.32%) up or down from last closing price. If Ningbo Ligong Envrmnt & Enrg Tech Co Ltd takes out the full calculated possible swing range there will be an estimated 8.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥14.33 (0.21%) than the support at ¥14.00 (2.10%), 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 Ligong Envrmnt & Enrg Tech Co Ltd stock A Buy?
Ningbo Ligong Envrmnt & Enrg Tech 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: 0.789 Hold/Accumulate Downgraded
Predicted Opening Price for Ningbo Ligong Envrmnt & Enrg Tech Co Ltd of Monday, May 20, 2024
Fair opening price May 20, 2024 | Current price |
---|---|
¥14.38 ( 0.583%) | ¥14.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002322.SZ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 14.85 | 3.87 % | |
R2 | 14.67 | 2.61 % | ||
R1 | 14.56 | 1.84 % | ||
Current price: | 14.30 | |||
Support | S1 | 14.20 | -0.673 % | |
S2 | 14.09 | -1.45 % | ||
S3 | 13.91 | -2.70 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 14.66 | 2.52 % | |
R2 | 14.61 | 2.17 % | ||
R1 | 14.33 | 0.210 % | ||
Current price | 14.30 | |||
Support | S1 | 14.00 | -2.10% | |
S2 | 13.76 | -3.78% | ||
S3 | 11.40 | -20.28% |
002322 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jul 13, 2023 | Jul 13, 2023 | Jul 13, 2023 | ¥0.0500 | 0.504% |
2 | Jul 11, 2022 | Jul 11, 2022 | Jul 11, 2022 | ¥0.200 | 2.31% |
3 | Jul 07, 2021 | Jul 07, 2021 | Jul 07, 2021 | ¥0.650 | 6.27% |
4 | May 27, 2020 | May 27, 2020 | May 27, 2020 | ¥0.350 | 3.20% |
5 | Sep 24, 2019 | Sep 24, 2019 | Sep 24, 2019 | ¥0.250 | 1.81% |
FAQ
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