Kangxin New Materials Co., Ltd Stock Forecast
Green day on Thursday for Kangxin New Materials Co., Ltd stock after gaining 0.752%
(Updated on Jun 27, 2024)
The Kangxin New Materials Co., Ltd stock price gained 0.752% on the last trading day (Thursday, 27th Jun 2024), rising from $1.33 to $1.34. During the last trading day the stock fluctuated 3.01% from a day low at $1.33 to a day high of $1.37. The price has fallen in 5 of the last 10 days and is down by -11.26% for this period. Volume fell on the last day by -2 million shares and in total, 10 million shares were bought and sold for approximately $14.03 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 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 -31.70% during the next 3 months and, with a 90% probability hold a price between $0.83 and $1.09 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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600076.SS Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 6.35%. 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 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 Kangxin New Materials Co., Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $1.65. On a fall, the stock will find some support from the short-term average at $1.33. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Kangxin New Materials Co., Ltd stock
Kangxin New Materials Co., Ltd finds support from accumulated volume at $1.33 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 $0.0400 between high and low, or 3.01%. For the last week, the stock has had daily average volatility of 4.72%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (600076.SS) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Kangxin New Materials Co., Ltd to open at $1.35, and during the day (based on 14 day Average True Range), to move between $1.27 and $1.41, which gives a possible trading interval of +/-$0.0711 (+/-5.30%) up or down from last closing price. If Kangxin New Materials Co., Ltd takes out the full calculated possible swing range there will be an estimated 10.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.33 (0.75%) than the resistance at $1.41 (5.22%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Kangxin New Materials Co., Ltd stock A Buy?
Kangxin New Materials 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.
Current score: -3.912 Sell Candidate Unchanged
Predicted Opening Price for Kangxin New Materials Co., Ltd of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $1.35 ( 0.498%) | $1.34 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600076.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.39 | 3.48% |
| R2 | 1.37 | 2.34% |
| R1 | 1.36 | 1.64% |
| Price | 1.34 | |
| S1 | 1.33 | -0.643% |
| S2 | 1.32 | -1.35% |
| S3 | 1.31 | -2.49% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.56 | 16.42% |
| R2 | 1.53 | 14.18% |
| R1 | 1.41 | 5.22% |
| Price | 1.34 | |
| S1 | 1.33 | -0.746% |
| S2 | 1.26 | -5.97% |
| S3 | 0 | - |
600076 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 05, 2019 | Aug 05, 2019 | Aug 05, 2019 | $0.0200 | 0.482% |
| 2 | Jun 25, 2018 | Jun 25, 2018 | Jun 25, 2018 | $0.110 | 2.42% |
| 3 | Jul 22, 2002 | Jul 22, 2002 | Jul 22, 2002 | $0.0279 | 0.402% |
| 4 | May 22, 2001 | May 22, 2001 | May 22, 2001 | $0.0316 | 0.278% |
FAQ
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