Ningbo Jintian Copper(Group) Co., Ltd. Stock Forecast
Ningbo Jintian Copper(Group) Co., Ltd. stock upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jun 18, 2024)
The Ningbo Jintian Copper(Group) Co., Ltd. stock price gained 2.07% on the last trading day (Tuesday, 18th Jun 2024), rising from $5.80 to $5.92. During the last trading day the stock fluctuated 2.59% from a day low at $5.79 to a day high of $5.94. The price has fallen in 6 of the last 10 days and is down by -3.74% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 536 thousand more shares were traded than the day before. In total, 7 million shares were bought and sold for approximately $41.63 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $5.78 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Ningbo Jintian Copper(Group) Co., Ltd. stock with a 90% probability to be traded between $5.68 and $6.74 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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601609.SS Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 2.25%. 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. The Ningbo Jintian Copper(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 $6.36. On a fall, the stock will find some support from the short-term average at $5.86. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Ningbo Jintian Copper(Group) Co., Ltd. stock
Ningbo Jintian Copper(Group) Co., Ltd. finds support from accumulated volume at $5.86 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 $0.150 between high and low, or 2.59%. For the last week, the stock has had daily average volatility of 2.35%.
Our recommended stop-loss: $5.55 (-6.32%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (601609.SS) For The Upcoming Trading Day Of Wednesday 19th
For the upcoming trading day on Wednesday, 19th we expect Ningbo Jintian Copper(Group) Co., Ltd. to open at $5.88, and during the day (based on 14 day Average True Range), to move between $5.73 and $6.11, which gives a possible trading interval of +/-$0.189 (+/-3.20%) up or down from last closing price. If Ningbo Jintian Copper(Group) Co., Ltd. takes out the full calculated possible swing range there will be an estimated 6.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.86 (1.01%) than the resistance at $6.15 (3.89%), 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 Jintian Copper(Group) Co., Ltd. stock A Buy?
Ningbo Jintian Copper(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: -0.413 Hold/Accumulate Upgraded
Predicted Opening Price for Ningbo Jintian Copper(Group) Co., Ltd. of Wednesday, June 19, 2024
| Fair opening price June 19, 2024 | Current price |
|---|---|
| $5.88 ( 0.619%) | $5.92 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 601609.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.03 | 1.91% |
| R2 | 5.98 | 0.95% |
| R1 | 5.94 | 0.349% |
| Price | 5.92 | |
| S1 | 5.83 | -1.59% |
| S2 | 5.79 | -2.19% |
| S3 | 5.73 | -3.15% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.55 | 10.64% |
| R2 | 6.48 | 9.46% |
| R1 | 6.15 | 3.89% |
| Price | 5.92 | |
| S1 | 5.86 | -1.01% |
| S2 | 5.85 | -1.18% |
| S3 | 5.82 | -1.69% |
601609 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 06, 2024 | Jun 06, 2024 | Jun 06, 2024 | $0.120 | 2.06% |
| 2 | Jun 14, 2023 | Jun 14, 2023 | Jun 14, 2023 | $0.0910 | 1.43% |
| 3 | Jun 15, 2022 | Jun 15, 2022 | Jun 15, 2022 | $0.110 | 1.49% |
| 4 | Jun 23, 2021 | Jun 23, 2021 | Jun 23, 2021 | $0.106 | 1.22% |
| 5 | Jul 10, 2020 | Jul 10, 2020 | Jul 10, 2020 | $0.102 | 0.745% |
FAQ
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