Li Ning Company Limited Stock Forecast
Green day on Friday for Li Ning Company Limited
(Updated on May 17, 2024)
The Li Ning Company Limited stock price gained 1.38% on the last trading day (Friday, 17th May 2024), rising from HK$21.70 to HK$22.00. It has now gained 3 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 3.93% from a day low at HK$21.65 to a day high of HK$22.50. The price has risen in 6 of the last 10 days and is up by 1.62% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 340 thousand more shares were traded than the day before. In total, 22 million shares were bought and sold for approximately HK$479.53 million.
The stock lies in the upper part of a very wide and weak 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 HK$22.81 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 4.46% during the next 3 months and, with a 90% probability hold a price between HK$17.80 and HK$23.83 at the end of this 3-month period.
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2331.HK Signals & Forecast
The Li Ning 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$21.71 and HK$20.20. 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 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. A sell signal was issued from a pivot top point on Friday, May 10, 2024, and so far it has fallen -1.35%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Li Ning Company Limited stock
Li Ning Company Limited finds support from accumulated volume at HK$21.35 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 HK$0.85 between high and low, or 3.93%. For the last week, the stock has had daily average volatility of 4.21%.
Our recommended stop-loss: HK$21.10 (-4.09%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (2331.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Li Ning Company Limited to open at HK$22.05, and during the day (based on 14 day Average True Range), to move between HK$20.97 and HK$23.03, which gives a possible trading interval of +/-HK$1.03 (+/-4.67%) up or down from last closing price. If Li Ning Company Limited takes out the full calculated possible swing range there will be an estimated 9.33% 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$22.10 (0.45%) than the support at HK$21.35 (2.95%), 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 Li Ning Company Limited 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 Li Ning Company Limited stock to perform well in the short-term.
Current score: 4.026 Buy Candidate Unchanged
Predicted Opening Price for Li Ning Company Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$22.05 ( 0.227%) | HK$22.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2331.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.90 | 4.09 % | |
| R2 | 22.58 | 2.62 % | ||
| R1 | 22.37 | 1.70 % | ||
| Current price: | 22.00 | |||
| Support | S1 | 21.73 | -1.25 % | |
| S2 | 21.52 | -2.16 % | ||
| S3 | 21.20 | -3.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 22.30 | 1.36 % | ||
| R1 | 22.10 | 0.455 % | ||
| Current price | 22.00 | |||
| Support | S1 | 21.35 | -2.95% | |
| S2 | 20.90 | -5.00% | ||
| S3 | 19.88 | -9.64% |
2331 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 17, 2024 | Jun 17, 2024 | Jun 28, 2024 | HK$0.201 | 0.92% |
| 2 | Aug 23, 2023 | Aug 23, 2023 | Aug 23, 2023 | HK$0.396 | 1.09% |
| 3 | Jun 16, 2023 | Jun 16, 2023 | Jun 16, 2023 | HK$0.506 | 1.02% |
| 4 | Jun 17, 2022 | Jun 17, 2022 | Jun 17, 2022 | HK$0.535 | 0.85% |
| 5 | Jun 16, 2021 | Jun 16, 2021 | Jun 16, 2021 | HK$0.249 | 0.328% |
FAQ
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