NBTM New Materials Group Co., Ltd. Stock Forecast
NBTM New Materials Group Co., Ltd. stock price up more than 5.73% on Friday
(Updated on Jun 28, 2024)
The NBTM New Materials Group Co., Ltd. stock price gained 5.73% on the last trading day (Friday, 28th Jun 2024), rising from $13.61 to $14.39. During the last trading day the stock fluctuated 8.85% from a day low at $13.45 to a day high of $14.64. The price has been going up and down for this period, and there has been a -0.35% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 11 million more shares were traded than the day before. In total, 28 million shares were bought and sold for approximately $402.81 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect NBTM New Materials Group Co., Ltd. stock with a 90% probability to be traded between $13.23 and $15.35 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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600114.SS Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 7.07%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The NBTM New Materials Group 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 $14.43. On a fall, the stock will find some support from the short-term average at $14.02. 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 NBTM New Materials Group Co., Ltd. stock
NBTM New Materials Group Co., Ltd. finds support from accumulated volume at $14.31 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 $1.19 between high and low, or 8.85%. For the last week, the stock has had daily average volatility of 6.18%.
Our recommended stop-loss: $13.79 (-4.14%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (600114.SS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect NBTM New Materials Group Co., Ltd. to open at $14.16, and during the day (based on 14 day Average True Range), to move between $13.67 and $15.11, which gives a possible trading interval of +/-$0.722 (+/-5.02%) up or down from last closing price. If NBTM New Materials Group Co., Ltd. takes out the full calculated possible swing range there will be an estimated 10.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $14.31 (0.56%) than the resistance at $14.77 (2.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is NBTM New Materials Group Co., Ltd. stock A Buy?
NBTM New Materials Group Co., Ltd. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.097 Hold/Accumulate Upgraded
Predicted Opening Price for NBTM New Materials Group Co., Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $14.16 ( 1.60%) | $14.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600114.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.35 | 6.67% |
| R2 | 14.90 | 3.51% |
| R1 | 14.61 | 1.56% |
| Price | 14.39 | |
| S1 | 13.71 | -4.76% |
| S2 | 13.42 | -6.71% |
| S3 | 12.97 | -9.87% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.21 | 5.70% |
| R2 | 15.13 | 5.14% |
| R1 | 14.77 | 2.64% |
| Price | 14.39 | |
| S1 | 14.31 | -0.556% |
| S2 | 14.10 | -2.02% |
| S3 | 13.89 | -3.47% |
600114 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 06, 2024 | Jun 06, 2024 | Jun 06, 2024 | $0.200 | 1.44% |
| 2 | Jun 01, 2023 | Jun 01, 2023 | Jun 01, 2023 | $0.100 | 1.32% |
| 3 | Jun 01, 2022 | Jun 01, 2022 | Jun 01, 2022 | $0.0500 | 0.649% |
| 4 | Jun 04, 2021 | Jun 04, 2021 | Jun 04, 2021 | $0.150 | 1.84% |
| 5 | Jun 05, 2020 | Jun 05, 2020 | Jun 05, 2020 | $0.200 | 2.17% |
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