Ming Yang Smart Energy Group Limited Stock Forecast
Ming Yang Smart Energy Group Limited stock price down 0.80% on Friday
(Updated on Jun 21, 2024)
The Ming Yang Smart Energy Group Limited stock price fell by -0.80% on the last day (Friday, 21st Jun 2024) from $9.94 to $9.86. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.94% from a day low at $9.80 to a day high of $9.99. The price has fallen in 6 of the last 10 days and is down by -3.99% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -10 million shares and in total, 24 million shares were bought and sold for approximately $235.04 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $9.58 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 13.12% during the next 3 months and, with a 90% probability hold a price between $10.84 and $13.13 at the end of this 3-month period.
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601615.SS Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Ming Yang Smart Energy Group Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $10.34 and $10.37. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -10.12%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A sell signal from a double top formation was found on Friday, June 14, 2024 and based on theory for this formation the price should fall by -1.44% to $9.72 within 23 trading days since signal was issued (Wednesday, July 17, 2024).
Support, Risk & Stop-loss for Ming Yang Smart Energy Group Limited stock
Ming Yang Smart Energy Group Limited finds support from accumulated volume at $9.84 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 $0.190 (1.94%) between high and low. For the last week, the stock has had daily average volatility of 3.19%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (601615.SS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Ming Yang Smart Energy Group Limited to open at $9.88, and during the day (based on 14 day Average True Range), to move between $9.52 and $10.20, which gives a possible trading interval of +/-$0.345 (+/-3.50%) up or down from last closing price. If Ming Yang Smart Energy Group Limited takes out the full calculated possible swing range there will be an estimated 6.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $9.84 (0.20%) than the resistance at $10.11 (2.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ming Yang Smart Energy Group Limited stock A Buy?
The Ming Yang Smart Energy Group Limited stock holds several negative signals and despite the positive trend, we believe Ming Yang Smart Energy Group Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.014 Sell Candidate Unchanged
Predicted Opening Price for Ming Yang Smart Energy Group Limited of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $9.88 ( 0.237%) | $9.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 601615.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.07 | 2.16% |
| R2 | 10.00 | 1.43% |
| R1 | 9.96 | 0.97% |
| Price | 9.86 | |
| S1 | 9.81 | -0.499% |
| S2 | 9.77 | -0.95% |
| S3 | 9.69 | -1.69% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.97 | 11.26% |
| R2 | 10.55 | 7.00% |
| R1 | 10.11 | 2.54% |
| Price | 9.86 | |
| S1 | 9.84 | -0.203% |
| S2 | 9.81 | -0.507% |
| S3 | 9.41 | -4.56% |
601615 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2023 | Jun 14, 2023 | Jun 14, 2023 | $0.304 | 1.85% |
| 2 | Jun 10, 2022 | Jun 10, 2022 | Jun 10, 2022 | $0.221 | 0.85% |
| 3 | Jun 02, 2021 | Jun 02, 2021 | Jun 02, 2021 | $0.106 | 0.711% |
| 4 | May 28, 2020 | May 28, 2020 | May 28, 2020 | $0.0780 | 0.641% |
| 5 | Jul 12, 2019 | Jul 12, 2019 | Jul 12, 2019 | $0.0580 | 0.556% |
FAQ
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