Ningbo Cixing Co.,Ltd. Stock Forecast
Evaluation of Ningbo Cixing Co.,Ltd. stock downgraded after the last trading session.
(Updated on Jun 25, 2024)
The Ningbo Cixing Co.,Ltd. stock price gained 2.46% on the last trading day (Tuesday, 25th Jun 2024), rising from ¥5.70 to ¥5.84. During the last trading day the stock fluctuated 5.09% from a day low at ¥5.70 to a day high of ¥5.99. The price has risen in 6 of the last 10 days but is still down by -0.68% for this period. 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, 14 million shares were bought and sold for approximately ¥82.78 million.
The stock lies in the middle of a very wide and strong 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 16.00% during the next 3 months and, with a 90% probability hold a price between ¥5.95 and ¥8.79 at the end of this 3-month period.
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300307.SZ Signals & Forecast
There are mixed signals in the stock today. The Ningbo Cixing 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 ¥5.97 and ¥6.24. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 3.00%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Ningbo Cixing Co.,Ltd. stock
Ningbo Cixing Co.,Ltd. finds support from accumulated volume at ¥5.77 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ¥0.290 between high and low, or 5.09%. For the last week, the stock has had daily average volatility of 4.96%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (300307.SZ) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Ningbo Cixing Co.,Ltd. to open at ¥5.84, and during the day (based on 14 day Average True Range), to move between ¥5.49 and ¥6.19, which gives a possible trading interval of +/-¥0.350 (+/-5.99%) up or down from last closing price. If Ningbo Cixing Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 11.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥5.77 (1.20%) than the resistance at ¥6.19 (5.99%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ningbo Cixing Co.,Ltd. stock A Buy?
Ningbo Cixing Co.,Ltd. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.210 Sell Candidate Downgraded
Predicted Opening Price for Ningbo Cixing Co.,Ltd. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ¥5.84 ( 0.0571%) | ¥5.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300307.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.13 | 5.02% |
| R2 | 6.02 | 3.13% |
| R1 | 5.95 | 1.95% |
| Price | 5.84 | |
| S1 | 5.73 | -1.84% |
| S2 | 5.66 | -3.01% |
| S3 | 5.55 | -4.91% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.11 | 21.75% |
| R2 | 6.89 | 17.98% |
| R1 | 6.19 | 5.99% |
| Price | 5.84 | |
| S1 | 5.77 | -1.20% |
| S2 | 5.67 | -2.91% |
| S3 | 4.76 | -18.49% |
300307 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2019 | May 31, 2019 | May 31, 2019 | ¥0.0200 | 0.300% |
| 2 | May 31, 2018 | May 31, 2018 | May 31, 2018 | ¥0.200 | 2.95% |
| 3 | May 26, 2017 | May 26, 2017 | May 26, 2017 | ¥0.100 | 1.01% |
| 4 | Apr 28, 2016 | Apr 28, 2016 | Apr 28, 2016 | ¥0.100 | 0.629% |
| 5 | Jun 20, 2014 | Jun 20, 2014 | Jun 20, 2014 | ¥0.100 | 1.08% |
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