Kingnet Network Co Ltd Stock Forecast
Big movements in Kingnet Network Co Ltd stock price on Friday moving 11.23% between high and low
(Updated on Jun 21, 2024)
The Kingnet Network Co Ltd stock price fell by -0.403% on the last day (Friday, 21st Jun 2024) from ¥9.93 to ¥9.89. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 11.23% from a day low at ¥9.71 to a day high of ¥10.80. The price has fallen in 6 of the last 10 days and is down by -5.9% for this period. Volume has increased on the last day by 6 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, 36 million shares were bought and sold for approximately ¥354.89 million.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥9.58 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -8.06% during the next 3 months and, with a 90% probability hold a price between ¥8.81 and ¥10.60 at the end of this 3-month period.
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002517.SZ Signals & Forecast
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. The Kingnet Network 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 ¥10.33 and ¥11.05. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -17.99%. Further fall is indicated until a new bottom pivot has been found. 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 Kingnet Network Co Ltd stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 ¥1.09 between high and low, or 11.23%. For the last week, the stock has had daily average volatility of 7.04%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002517.SZ) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Kingnet Network Co Ltd to open at ¥10.13, and during the day (based on 14 day Average True Range), to move between ¥9.37 and ¥10.41, which gives a possible trading interval of +/-¥0.519 (+/-5.25%) up or down from last closing price. If Kingnet Network Co Ltd takes out the full calculated possible swing range there will be an estimated 10.50% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ¥10.78, some ¥0.89 (9.00%) from the current price of ¥9.89, our system finds the risk reward not very attractive.
Is Kingnet Network Co Ltd stock A Buy?
Kingnet Network Co Ltd holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.229 Sell Candidate Unchanged
Predicted Opening Price for Kingnet Network Co Ltd of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ¥10.13 ( 2.46%) | ¥9.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002517.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.22 | 13.48% |
| R2 | 10.81 | 9.27% |
| R1 | 10.55 | 6.67% |
| Price | 9.89 | |
| S1 | 9.72 | -1.75% |
| S2 | 9.46 | -4.35% |
| S3 | 9.04 | -8.56% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.26 | 13.85% |
| R2 | 11.02 | 11.43% |
| R1 | 10.78 | 9.00% |
| Price | 9.89 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
002517 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 05, 2024 | Jun 05, 2024 | Jun 05, 2024 | ¥0.100 | 0.95% |
| 2 | Sep 28, 2023 | Sep 28, 2023 | Sep 28, 2023 | ¥0.100 | 0.794% |
| 3 | Jun 13, 2018 | Jun 13, 2018 | Jun 13, 2018 | ¥0.0800 | 0.93% |
| 4 | Sep 27, 2017 | Sep 27, 2017 | Sep 27, 2017 | ¥0.0333 | 0.273% |
| 5 | May 25, 2017 | May 25, 2017 | May 25, 2017 | ¥0.0333 | 0.324% |
FAQ
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