Ningbo David Medical Device Co Ltd Stock Forecast

High volatility in Ningbo David Medical Device Co Ltd stock price on Monday which ended trading at ¥11.06
(Updated on Apr 15, 2024)

300314.SZ Signals & Forecast

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 Ningbo David Medical Device 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 ¥11.23 and ¥11.63. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 04, 2024, and so far it has fallen -11.09%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Ningbo David Medical Device Co Ltd stock

Ningbo David Medical Device Co Ltd finds support from accumulated volume at ¥10.54 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 ¥1.29 between high and low, or 11.93%. For the last week, the stock has had daily average volatility of 7.27%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (300314.SZ) For The Upcoming Trading Day Of Tuesday 16th

For the upcoming trading day on Tuesday, 16th we expect Ningbo David Medical Device Co Ltd to open at ¥11.32, and during the day (based on 14 day Average True Range), to move between ¥10.42 and ¥11.70, which gives a possible trading interval of +/-¥0.644 (+/-5.82%) up or down from last closing price. If Ningbo David Medical Device Co Ltd takes out the full calculated possible swing range there will be an estimated 11.65% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥10.54 (4.70%) than the resistance at ¥11.77 (6.42%), 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 David Medical Device Co Ltd stock A Buy?

Ningbo David Medical Device Co Ltd holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -2.741 Sell Candidate Unchanged

Predicted Opening Price for Ningbo David Medical Device Co Ltd of Tuesday, April 16, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.