Zhejiang Narada Power Source Co., Ltd. Stock Forecast
Stronger technical forecast for Zhejiang Narada Power Source Co., Ltd. stock price after Wednesday trading.
(Updated on May 29, 2024)
The Zhejiang Narada Power Source Co., Ltd. stock price gained 0.89% on the last trading day (Wednesday, 29th May 2024), rising from ¥10.14 to ¥10.23. During the last trading day the stock fluctuated 3.06% from a day low at ¥10.12 to a day high of ¥10.43. The price has been going up and down for this period, and there has been a -0.78% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 22 million shares were bought and sold for approximately ¥220.33 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -19.93% during the next 3 months and, with a 90% probability hold a price between ¥6.30 and ¥9.01 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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300068.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 11.32%. Further rise is indicated until a new top pivot has been found. 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 Zhejiang Narada Power Source 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 ¥10.26 and ¥10.41. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Zhejiang Narada Power Source Co., Ltd. stock
Zhejiang Narada Power Source Co., Ltd. finds support from accumulated volume at ¥9.81 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ¥0.310 (3.06%) between high and low. For the last week, the stock has had daily average volatility of 3.07%.
Our recommended stop-loss: ¥9.82 (-4.04%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (300068.SZ) For The Upcoming Trading Day Of Thursday 30th
For the upcoming trading day on Thursday, 30th we expect Zhejiang Narada Power Source Co., Ltd. to open at ¥10.26, and during the day (based on 14 day Average True Range), to move between ¥9.68 and ¥10.78, which gives a possible trading interval of +/-¥0.548 (+/-5.35%) up or down from last closing price. If Zhejiang Narada Power Source Co., Ltd. takes out the full calculated possible swing range there will be an estimated 10.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥10.30 (0.68%) than the support at ¥9.81 (4.11%), 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 Zhejiang Narada Power Source Co., Ltd. stock A Buy?
Zhejiang Narada Power Source Co., Ltd. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.553 Hold/Accumulate Upgraded
Predicted Opening Price for Zhejiang Narada Power Source Co., Ltd. of Thursday, May 30, 2024
| Fair opening price May 30, 2024 | Current price |
|---|---|
| ¥10.26 ( 0.293%) | ¥10.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300068.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.57 | 3.32 % | |
| R2 | 10.45 | 2.17 % | ||
| R1 | 10.38 | 1.45 % | ||
| Current price: | 10.23 | |||
| Support | S1 | 10.14 | -0.86 % | |
| S2 | 10.07 | -1.58 % | ||
| S3 | 9.95 | -2.74 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.16 | 18.87 % | |
| R2 | 11.94 | 16.72 % | ||
| R1 | 10.30 | 0.684 % | ||
| Current price | 10.23 | |||
| Support | S1 | 9.81 | -4.11% | |
| S2 | 9.23 | -9.78% | ||
| S3 | 9.19 | -10.17% |
300068 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 15, 2021 | Jul 15, 2021 | Jul 15, 2021 | ¥0.0360 | 0.305% |
| 2 | May 15, 2018 | May 15, 2018 | May 15, 2018 | ¥0.200 | 1.26% |
| 3 | May 15, 2017 | May 15, 2017 | May 15, 2017 | ¥0.200 | 1.17% |
| 4 | Nov 12, 2014 | Nov 12, 2014 | Nov 12, 2014 | ¥0.199 | 1.97% |
| 5 | Jun 12, 2014 | Jun 12, 2014 | Jun 12, 2014 | ¥0.0899 | 1.14% |
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