Nanjing Quanxin Cable Technology Co., Stock Forecast
Nanjing Quanxin Cable Technology Co., stock price ended at ¥12.19 on Wednesday, after gaining 3.13%.
(Updated on Jun 26, 2024)
The Nanjing Quanxin Cable Technology Co., stock price gained 3.13% on the last trading day (Wednesday, 26th Jun 2024), rising from ¥11.82 to ¥12.19. During the last trading day the stock fluctuated 6.43% from a day low at ¥11.50 to a day high of ¥12.24. The price has been going up and down for this period, and there has been a -9.3% loss for the last 2 weeks. Volume fell on the last day by -126 thousand shares and in total, 5 million shares were bought and sold for approximately ¥55.48 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 stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥11.37 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 11.94% during the next 3 months and, with a 90% probability hold a price between ¥12.72 and ¥17.67 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
300447.SZ Signals & Forecast
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. The Nanjing Quanxin Cable Technology Co., 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 ¥12.43 and ¥13.63. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 04, 2024, and so far it has fallen -20.74%. 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 Nanjing Quanxin Cable Technology Co., stock
Nanjing Quanxin Cable Technology Co., finds support from accumulated volume at ¥12.17 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 ¥0.740 between high and low, or 6.43%. For the last week, the stock has had daily average volatility of 7.63%.
Nanjing Quanxin Cable Technology Co., is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (300447.SZ) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Nanjing Quanxin Cable Technology Co., Ltd. to open at ¥11.98, and during the day (based on 14 day Average True Range), to move between ¥11.27 and ¥13.11, which gives a possible trading interval of +/-¥0.92 (+/-7.59%) up or down from last closing price. If Nanjing Quanxin Cable Technology Co., Ltd. takes out the full calculated possible swing range there will be an estimated 15.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥12.17 (0.16%) than the resistance at ¥14.10 (15.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Nanjing Quanxin Cable Technology Co., Ltd. stock A Buy?
The Nanjing Quanxin Cable Technology Co., stock holds several negative signals and despite the positive trend, we believe Nanjing Quanxin Cable Technology Co., will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.187 Sell Candidate Unchanged
Predicted Opening Price for Nanjing Quanxin Cable Technology Co., Ltd. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ¥11.98 ( 1.75%) | ¥12.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300447.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.72 | 4.32% |
| R2 | 12.43 | 2.00% |
| R1 | 12.26 | 0.569% |
| Price | 12.19 | |
| S1 | 11.69 | -4.07% |
| S2 | 11.52 | -5.50% |
| S3 | 11.24 | -7.82% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.66 | 20.26% |
| R2 | 14.61 | 19.85% |
| R1 | 14.10 | 15.67% |
| Price | 12.19 | |
| S1 | 12.17 | -0.164% |
| S2 | 11.68 | -4.18% |
| S3 | 11.66 | -4.35% |
300447 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 05, 2024 | Jun 05, 2024 | Jun 05, 2024 | ¥0.0660 | 0.460% |
| 2 | Jun 21, 2022 | Jun 21, 2022 | Jun 21, 2022 | ¥0.100 | 0.503% |
| 3 | May 30, 2018 | May 30, 2018 | May 30, 2018 | ¥0.0600 | 0.442% |
| 4 | May 19, 2017 | May 19, 2017 | May 19, 2017 | ¥0.0588 | 0.268% |
| 5 | Jun 16, 2016 | Jun 16, 2016 | Jun 16, 2016 | ¥0.0441 | 0.183% |
FAQ
Click here for our free guide on how to buy Nanjing Quanxin Cable Technology Co., Ltd. Stock.
