Changzhou NRB Corp Stock Forecast
Green day on Friday for Changzhou NRB Corp stock after gaining 3.54%
(Updated on May 17, 2024)
The Changzhou NRB Corp stock price gained 3.54% on the last trading day (Friday, 17th May 2024), rising from ¥8.47 to ¥8.77. During the last trading day the stock fluctuated 9.48% from a day low at ¥8.23 to a day high of ¥9.01. The price has fallen in 6 of the last 10 days and is down by -9.59% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 million more shares were traded than the day before. In total, 71 million shares were bought and sold for approximately ¥623.86 million.
The stock lies in the middle of a very wide and weak 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 3.36% during the next 3 months and, with a 90% probability hold a price between ¥7.57 and ¥11.57 at the end of this 3-month period.
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002708.SZ Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. The Changzhou NRB Corp stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ¥8.89. On a fall, the stock will find some support from the short-term average at ¥8.49. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -10.51%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Changzhou NRB Corp stock
Changzhou NRB Corp finds support from accumulated volume at ¥8.68 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 ¥0.780 between high and low, or 9.48%. For the last week, the stock has had daily average volatility of 11.68%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002708.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Changzhou NRB Corp to open at ¥8.67, and during the day (based on 14 day Average True Range), to move between ¥7.96 and ¥9.58, which gives a possible trading interval of +/-¥0.81 (+/-9.22%) up or down from last closing price. If Changzhou NRB Corp takes out the full calculated possible swing range there will be an estimated 18.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥8.68 (1.03%) than the resistance at ¥9.70 (10.60%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Changzhou NRB Corp stock A Buy?
Changzhou NRB Corp 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.
Current score: -1.051 Sell Candidate Unchanged
Predicted Opening Price for Changzhou NRB Corp of Monday, May 20, 2024
Fair opening price May 20, 2024 | Current price |
---|---|
¥8.67 ( 1.14%) | ¥8.77 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002708.SZ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 9.45 | 7.75 % | |
R2 | 9.15 | 4.36 % | ||
R1 | 8.97 | 2.26 % | ||
Current price: | 8.77 | |||
Support | S1 | 8.37 | -4.54 % | |
S2 | 8.19 | -6.64 % | ||
S3 | 7.89 | -10.03 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.71 | 22.12 % | |
R2 | 9.99 | 13.91 % | ||
R1 | 9.70 | 10.60 % | ||
Current price | 8.77 | |||
Support | S1 | 8.68 | -1.03% | |
S2 | 8.58 | -2.17% | ||
S3 | 8.39 | -4.33% |
002708 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jul 11, 2018 | Jul 11, 2018 | Jul 11, 2018 | ¥0.0200 | 0.419% |
2 | Jul 06, 2017 | Jul 06, 2017 | Jul 06, 2017 | ¥0.0300 | 0.301% |
3 | Oct 21, 2016 | Oct 21, 2016 | Oct 21, 2016 | ¥0.0200 | 0.138% |
4 | May 06, 2015 | May 06, 2015 | May 06, 2015 | ¥0.0682 | 0.601% |
5 | Apr 29, 2014 | Apr 29, 2014 | Apr 29, 2014 | ¥0.0325 | 0.435% |
FAQ
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