Ningbo Sanxing Medical Electric Co.,Ltd. Stock Forecast
A very strong day for Ningbo Sanxing Medical Electric Co.,Ltd. stock price on Friday
(Updated on Jun 28, 2024)
The Ningbo Sanxing Medical Electric Co.,Ltd. stock price gained 5.17% on the last trading day (Friday, 28th Jun 2024), rising from $33.28 to $35.00. During the last trading day the stock fluctuated 7.85% from a day low at $32.87 to a day high of $35.45. The price has fallen in 5 of the last 10 days but is still up by 3.89% 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, 5 million more shares were traded than the day before. In total, 11 million shares were bought and sold for approximately $388.66 million.
The stock lies in the middle of a wide and weak 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 9.35% during the next 3 months and, with a 90% probability hold a price between $34.68 and $41.05 at the end of this 3-month period.
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601567.SS Signals & Forecast
The Ningbo Sanxing Medical Electric 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 $34.28 and $34.37. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -5.66%. 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 Ningbo Sanxing Medical Electric Co.,Ltd. stock
Ningbo Sanxing Medical Electric Co.,Ltd. finds support from accumulated volume at $34.60 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 $2.58 (7.85%) between high and low. For the last week, the stock has had daily average volatility of 4.79%.
Our recommended stop-loss: $33.43 (-4.49%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 25 days ago.)
Trading Expectations (601567.SS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Ningbo Sanxing Medical Electric Co.,Ltd. to open at $34.44, and during the day (based on 14 day Average True Range), to move between $33.40 and $36.60, which gives a possible trading interval of +/-$1.60 (+/-4.58%) up or down from last closing price. If Ningbo Sanxing Medical Electric Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 9.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $34.60 (1.14%) than the resistance at $36.20 (3.43%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ningbo Sanxing Medical Electric Co.,Ltd. stock A Buy?
Ningbo Sanxing Medical Electric 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: 0.877 Hold/Accumulate Upgraded
Predicted Opening Price for Ningbo Sanxing Medical Electric Co.,Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $34.44 ( 1.60%) | $35.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 601567.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 37.02 | 5.77% |
| R2 | 36.03 | 2.96% |
| R1 | 35.43 | 1.22% |
| Price | 35.00 | |
| S1 | 33.45 | -4.42% |
| S2 | 32.85 | -6.16% |
| S3 | 31.86 | -8.97% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 37.10 | 6.00% |
| R2 | 36.44 | 4.11% |
| R1 | 36.20 | 3.43% |
| Price | 35.00 | |
| S1 | 34.60 | -1.14% |
| S2 | 33.69 | -3.74% |
| S3 | 32.99 | -5.74% |
601567 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 19, 2024 | Jun 19, 2024 | Jun 19, 2024 | $0.650 | 1.88% |
| 2 | Jun 01, 2023 | Jun 01, 2023 | Jun 01, 2023 | $0.350 | 2.78% |
| 3 | Jun 10, 2022 | Jun 10, 2022 | Jun 10, 2022 | $0.320 | 3.27% |
| 4 | Jun 07, 2021 | Jun 07, 2021 | Jun 07, 2021 | $0.350 | 2.22% |
| 5 | Jun 23, 2020 | Jun 23, 2020 | Jun 23, 2020 | $0.210 | 3.09% |
FAQ
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