Nissin Foods Company Limited Stock Forecast
Green day on Friday for Nissin Foods Company Limited
(Updated on May 17, 2024)
The Nissin Foods Company Limited stock price gained 0.189% on the last trading day (Friday, 17th May 2024), rising from HK$5.29 to HK$5.30. During the last trading day the stock fluctuated 2.69% from a day low at HK$5.21 to a day high of HK$5.35. The price has fallen in 5 of the last 10 days but is still up by 1.15% over the past 2 weeks. Volume fell on the last day by -319 thousand shares and in total, 543 thousand shares were bought and sold for approximately HK$2.88 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 HK$5.37 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Nissin Foods Company Limited stock with a 90% probability to be traded between HK$4.85 and HK$5.46 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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1475.HK Signals & Forecast
The Nissin Foods Company Limited 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 HK$5.17 and HK$5.02. 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 Tuesday, May 14, 2024, and so far it has fallen -1.30%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Nissin Foods Company Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$5.00 and HK$4.82. 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, Nissin Foods Company Limited finds support just below today's level at HK$5.00. If this is broken, then the next support from accumulated volume will be at HK$4.82 and HK$4.71.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.140 (2.69%) between high and low. For the last week, the stock has had daily average volatility of 3.25%.
Our recommended stop-loss: HK$5.11 (-3.65%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (1475.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Nissin Foods Company Limited to open at HK$5.29, and during the day (based on 14 day Average True Range), to move between HK$5.17 and HK$5.43, which gives a possible trading interval of +/-HK$0.133 (+/-2.51%) up or down from last closing price. If Nissin Foods Company Limited takes out the full calculated possible swing range there will be an estimated 5.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at HK$5.34 (0.75%) than the support at HK$5.00 (5.66%), 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 Nissin Foods Company Limited 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 Nissin Foods Company Limited stock to perform well in the short-term period.
Current score: 1.787 Buy Candidate Unchanged
Predicted Opening Price for Nissin Foods Company Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$5.29 ( 0.252%) | HK$5.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1475.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.43 | 2.39 % | |
| R2 | 5.37 | 1.38 % | ||
| R1 | 5.34 | 0.757 % | ||
| Current price: | 5.30 | |||
| Support | S1 | 5.23 | -1.26 % | |
| S2 | 5.20 | -1.88 % | ||
| S3 | 5.15 | -2.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 5.37 | 1.32 % | ||
| R1 | 5.34 | 0.755 % | ||
| Current price | 5.30 | |||
| Support | S1 | 5.00 | -5.66% | |
| S2 | 4.82 | -9.06% | ||
| S3 | 4.71 | -11.13% |
1475 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 11, 2024 | Jun 11, 2024 | Jun 27, 2024 | HK$0.158 | 3.00% |
| 2 | Jun 14, 2023 | Jun 14, 2023 | Jun 14, 2023 | HK$0.152 | 2.27% |
| 3 | Jun 14, 2022 | Jun 14, 2022 | Jun 14, 2022 | HK$0.0291 | 0.584% |
| 4 | Jun 10, 2021 | Jun 10, 2021 | Jun 10, 2021 | HK$0.141 | 2.30% |
| 5 | Mar 19, 2020 | Jun 11, 2020 | Jun 29, 2020 | HK$0.117 | 1.88% |
FAQ
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