Bank of Nanjing Co., Ltd. Stock Forecast
Stronger technical forecast for Bank of Nanjing Co., Ltd. stock price after Thursday trading.
(Updated on Jun 27, 2024)
The Bank of Nanjing Co., Ltd. stock price gained 2.93% on the last trading day (Thursday, 27th Jun 2024), rising from $9.89 to $10.18. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.55% from a day low at $9.87 to a day high of $10.22. The price has risen in 7 of the last 10 days and is up by 2% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 25 million more shares were traded than the day before. In total, 46 million shares were bought and sold for approximately $472.41 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 11.84% during the next 3 months and, with a 90% probability hold a price between $10.87 and $12.12 at the end of this 3-month period.
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601009.SS Signals & Forecast
The Bank of Nanjing Co., Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $9.91 and $9.92. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 6.71%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Bank of Nanjing Co., Ltd. stock
Bank of Nanjing Co., Ltd. finds support from accumulated volume at $10.09 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.350 (3.55%) between high and low. For the last week, the stock has had daily average volatility of 1.75%.
Our recommended stop-loss: $9.58 (-5.85%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (601009.SS) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Bank of Nanjing Co., Ltd. to open at $10.09, and during the day (based on 14 day Average True Range), to move between $9.95 and $10.41, which gives a possible trading interval of +/-$0.230 (+/-2.26%) up or down from last closing price. If Bank of Nanjing Co., Ltd. takes out the full calculated possible swing range there will be an estimated 4.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.09 (0.88%) than the resistance at $10.31 (1.28%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bank of Nanjing Co., Ltd. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Bank of Nanjing Co., Ltd. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 4.578 Buy Candidate Upgraded
Predicted Opening Price for Bank of Nanjing Co., Ltd. of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $10.09 ( 0.88%) | $10.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 601009.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.44 | 2.55% |
| R2 | 10.31 | 1.24% |
| R1 | 10.22 | 0.429% |
| Price | 10.18 | |
| S1 | 9.96 | -2.20% |
| S2 | 9.87 | -3.01% |
| S3 | 9.74 | -4.32% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.43 | 2.46% |
| R2 | 10.33 | 1.47% |
| R1 | 10.31 | 1.28% |
| Price | 10.18 | |
| S1 | 10.09 | -0.88% |
| S2 | 9.24 | -9.23% |
| S3 | 9.03 | -11.30% |
601009 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2024 | Jun 14, 2024 | Jun 14, 2024 | $0.537 | 5.63% |
| 2 | Jun 21, 2023 | Jun 21, 2023 | Jun 21, 2023 | $0.534 | 6.69% |
| 3 | Jun 17, 2022 | Jun 17, 2022 | Jun 17, 2022 | $0.462 | 4.29% |
| 4 | Jun 04, 2021 | Jun 04, 2021 | Jun 04, 2021 | $0.393 | 3.79% |
| 5 | Jun 19, 2020 | Jun 19, 2020 | Jun 19, 2020 | $0.392 | 5.28% |
FAQ
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