Ningbo Ligong Envrmnt & Enrg Tech Co Ltd Stock Forecast
Ningbo Ligong Envrmnt & Enrg Tech Co Ltd stock price up 0.87% on Friday
(Updated on May 31, 2024)
The Ningbo Ligong Envrmnt & Enrg Tech Co Ltd stock price gained 0.87% on the last trading day (Friday, 31st May 2024), rising from ¥14.87 to ¥15.00. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.50% from a day low at ¥14.45 to a day high of ¥15.10. The price has risen in 7 of the last 10 days and is up by 4.9% over the past 2 weeks. Volume fell on the last day by -7 million shares and in total, 12 million shares were bought and sold for approximately ¥174.12 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 in the upper part of a wide and strong rising 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 ¥15.49 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 17.46% during the next 3 months and, with a 90% probability hold a price between ¥15.28 and ¥18.19 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
002322.SZ Signals & Forecast
The Ningbo Ligong Envrmnt & Enrg Tech Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥14.12 and ¥14.21. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 23, 2024, and so far it has risen 17.10%. Further rise is indicated until a new top pivot has been found. 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. 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 Ligong Envrmnt & Enrg Tech Co Ltd stock
Ningbo Ligong Envrmnt & Enrg Tech Co Ltd finds support from accumulated volume at ¥14.84 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 ¥0.650 between high and low, or 4.50%. For the last week, the stock has had daily average volatility of 11.59%.
Our recommended stop-loss: ¥14.48 (-3.44%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (002322.SZ) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Ningbo Ligong Envrmnt & Enrg Tech Co Ltd to open at ¥14.85, and during the day (based on 14 day Average True Range), to move between ¥14.05 and ¥15.95, which gives a possible trading interval of +/-¥0.95 (+/-6.30%) 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 12.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥15.01 (0.07%) than the support at ¥14.84 (1.07%), 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?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Ningbo Ligong Envrmnt & Enrg Tech Co Ltd stock to perform well in the short-term.
Current score: 2.846 Buy Candidate Unchanged
Predicted Opening Price for Ningbo Ligong Envrmnt & Enrg Tech Co Ltd of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| ¥14.85 ( 1.00%) | ¥15.00 |
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 | 15.50 | 3.33 % | |
| R2 | 15.25 | 1.68 % | ||
| R1 | 15.10 | 0.655 % | ||
| Current price: | 15.00 | |||
| Support | S1 | 14.60 | -2.66 % | |
| S2 | 14.45 | -3.68 % | ||
| S3 | 14.20 | -5.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 15.01 | 0.0667 % | ||
| Current price | 15.00 | |||
| Support | S1 | 14.84 | -1.07% | |
| S2 | 13.78 | -8.13% | ||
| S3 | 13.76 | -8.27% |
002322 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 23, 2024 | May 23, 2024 | May 23, 2024 | ¥0.85 | 6.64% |
| 2 | Jul 13, 2023 | Jul 13, 2023 | Jul 13, 2023 | ¥0.0500 | 0.504% |
| 3 | Jul 11, 2022 | Jul 11, 2022 | Jul 11, 2022 | ¥0.200 | 2.31% |
| 4 | Jul 07, 2021 | Jul 07, 2021 | Jul 07, 2021 | ¥0.650 | 6.27% |
| 5 | May 27, 2020 | May 27, 2020 | May 27, 2020 | ¥0.350 | 3.20% |
FAQ
Click here for our free guide on how to buy Ningbo Ligong Envrmnt & Enrg Tech Co Ltd Stock.
