Ningbo Sunrise Elc Technology Co Ltd Stock Forecast
Green day on Thursday for Ningbo Sunrise Elc Technology Co Ltd
(Updated on May 09, 2024)
The Ningbo Sunrise Elc Technology Co Ltd stock price gained 1.03% on the last trading day (Thursday, 9th May 2024), rising from ¥22.29 to ¥22.52. During the last trading day the stock fluctuated 2.44% from a day low at ¥22.16 to a day high of ¥22.70. The price has risen in 6 of the last 10 days and is up by 12.83% over the past 2 weeks. Volume fell on the last day by -219 thousand shares and in total, 2 million shares were bought and sold for approximately ¥46.38 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 stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ¥23.44 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Ningbo Sunrise Elc Technology Co Ltd stock with a 90% probability to be traded between ¥18.77 and ¥23.45 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.
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002937.SZ Signals & Forecast
The Ningbo Sunrise Elc Technology 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 ¥22.35 and ¥21.47. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -1.57%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Ningbo Sunrise Elc Technology Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥20.69 and ¥20.11. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Ningbo Sunrise Elc Technology Co Ltd finds support just below today's level at ¥20.69. If this is broken, then the next support from accumulated volume will be at ¥20.11 and ¥19.72.
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 ¥0.540 between high and low, or 2.44%. For the last week, the stock has had daily average volatility of 3.78%.
Our recommended stop-loss: ¥21.74 (-3.47%) (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 (002937.SZ) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Ningbo Sunrise Elc Technology Co Ltd to open at ¥22.46, and during the day (based on 14 day Average True Range), to move between ¥21.52 and ¥23.52, which gives a possible trading interval of +/-¥1.00 (+/-4.43%) up or down from last closing price. If Ningbo Sunrise Elc Technology Co Ltd takes out the full calculated possible swing range there will be an estimated 8.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥22.55 (0.13%) than the support at ¥20.69 (8.13%), 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 Sunrise Elc Technology Co Ltd stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Ningbo Sunrise Elc Technology Co Ltd stock to perform well in the short-term period.
Current score: 3.339 Buy Candidate Unchanged
Predicted Opening Price for Ningbo Sunrise Elc Technology Co Ltd of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| ¥22.46 ( 0.266%) | ¥22.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002937.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.00 | 2.13 % | |
| R2 | 22.79 | 1.22 % | ||
| R1 | 22.67 | 0.650 % | ||
| Current price: | 22.52 | |||
| Support | S1 | 22.25 | -1.18 % | |
| S2 | 22.13 | -1.75 % | ||
| S3 | 21.92 | -2.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.97 | 2.00 % | |
| R2 | 22.88 | 1.60 % | ||
| R1 | 22.55 | 0.133 % | ||
| Current price | 22.52 | |||
| Support | S1 | 20.69 | -8.13% | |
| S2 | 20.11 | -10.70% | ||
| S3 | 19.72 | -12.43% |
002937 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 02, 2024 | Jan 02, 2024 | Jan 02, 2024 | ¥0 | 0% |
| 2 | Jun 01, 2023 | Jun 01, 2023 | Jun 01, 2023 | ¥0.200 | 0.85% |
| 3 | May 05, 2022 | May 05, 2022 | May 05, 2022 | ¥0.180 | 1.44% |
| 4 | Apr 30, 2021 | Apr 30, 2021 | Apr 30, 2021 | ¥0.180 | 1.35% |
| 5 | Apr 29, 2020 | Apr 29, 2020 | Apr 29, 2020 | ¥0.120 | 0.98% |
FAQ
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