Ningbo Ginlong Technologies Co Ltd Stock Forecast
Ningbo Ginlong Technologies Co Ltd stock upgraded from Strong Sell Candidate to Sell Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The Ningbo Ginlong Technologies Co Ltd stock price fell by -0.710% on the last day (Thursday, 25th Apr 2024) from ¥53.51 to ¥53.13. During the last trading day the stock fluctuated 7.46% from a day low at ¥52.26 to a day high of ¥56.16. The price has fallen in 6 of the last 10 days and is down by -12.9% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 million shares and in total, 4 million shares were bought and sold for approximately ¥228.62 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 -6.67% during the next 3 months and, with a 90% probability hold a price between ¥45.91 and ¥63.68 at the end of this 3-month period.
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300763.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Ningbo Ginlong Technologies 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 ¥54.73 and ¥61.39. 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 11, 2024, and so far it has fallen -25.00%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Ningbo Ginlong Technologies Co Ltd stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 ¥3.90 between high and low, or 7.46%. For the last week, the stock has had daily average volatility of 7.39%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (300763.SZ) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Ningbo Ginlong Technologies Co Ltd to open at ¥53.85, and during the day (based on 14 day Average True Range), to move between ¥49.02 and ¥57.24, which gives a possible trading interval of +/-¥4.11 (+/-7.74%) up or down from last closing price. If Ningbo Ginlong Technologies Co Ltd takes out the full calculated possible swing range there will be an estimated 15.48% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ¥60.22, some ¥7.09 (13.34%) from the current price of ¥53.13, our system finds the risk reward not very attractive.
Is Ningbo Ginlong Technologies Co Ltd stock A Buy?
Ningbo Ginlong Technologies 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.140 Sell Candidate Upgraded
Predicted Opening Price for Ningbo Ginlong Technologies Co Ltd of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| ¥53.85 ( 1.36%) | ¥53.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300763.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 57.75 | 8.70 % | |
| R2 | 56.26 | 5.89 % | ||
| R1 | 55.34 | 4.16 % | ||
| Current price: | 53.13 | |||
| Support | S1 | 52.36 | -1.45 % | |
| S2 | 51.44 | -3.18 % | ||
| S3 | 49.95 | -5.99 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 63.23 | 19.01 % | |
| R2 | 61.91 | 16.53 % | ||
| R1 | 60.22 | 13.34 % | ||
| Current price | 53.13 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
300763 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 07, 2023 | Jul 07, 2023 | Jul 07, 2023 | ¥0.400 | 0.414% |
| 2 | Sep 14, 2021 | Sep 14, 2021 | Sep 14, 2021 | ¥0.333 | 0.236% |
| 3 | Sep 16, 2020 | Sep 16, 2020 | Sep 16, 2020 | ¥0.392 | 0.89% |
| 4 | Oct 10, 2019 | Oct 10, 2019 | Oct 10, 2019 | ¥0.231 | 2.65% |
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