Zhejiang Dingli Machinery Co.,Ltd Stock Forecast
Zhejiang Dingli Machinery Co.,Ltd stock upgraded to Buy Candidate.
(Updated on Jun 28, 2024)
The Zhejiang Dingli Machinery Co.,Ltd stock price gained 1.39% on the last trading day (Friday, 28th Jun 2024), rising from $59.59 to $60.42. During the last trading day the stock fluctuated 2.91% from a day low at $59.16 to a day high of $60.88. The price has fallen in 7 of the last 10 days and is down by -0.79% for this period. Volume fell on the last day by -77 thousand shares and in total, 4 million shares were bought and sold for approximately $260.16 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $59.55 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -3.49% during the next 3 months and, with a 90% probability hold a price between $57.47 and $69.04 at the end of this 3-month period.
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603338.SS Signals & Forecast
The Zhejiang Dingli Machinery Co.,Ltd 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 $61.33 and $64.76. A break-up above any of these levels will issue buy signals. Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 1.39%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Zhejiang Dingli Machinery Co.,Ltd stock
Zhejiang Dingli Machinery Co.,Ltd finds support from accumulated volume at $60.33 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 $1.72 (2.91%) between high and low. For the last week, the stock has had daily average volatility of 3.11%.
Our recommended stop-loss: $57.30 (-5.16%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 33 days ago.)
Trading Expectations (603338.SS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Zhejiang Dingli Machinery Co.,Ltd to open at $60.15, and during the day (based on 14 day Average True Range), to move between $58.30 and $62.54, which gives a possible trading interval of +/-$2.12 (+/-3.50%) up or down from last closing price. If Zhejiang Dingli Machinery Co.,Ltd takes out the full calculated possible swing range there will be an estimated 7.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $60.33 (0.15%) than the resistance at $65.77 (8.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Zhejiang Dingli Machinery Co.,Ltd stock A Buy?
The stock is within a wide and falling trend and holds several negative signals that may affect the stock in the short-term. However, we believe that today's you should hold a possible buying opportunity and expect the price to be higher at the end of the 3-month period. The careful investor would await further signals. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.137 Buy Candidate Upgraded
Predicted Opening Price for Zhejiang Dingli Machinery Co.,Ltd of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $60.15 ( 0.441%) | $60.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 603338.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 61.87 | 2.41% |
| R2 | 61.22 | 1.32% |
| R1 | 60.81 | 0.646% |
| Price | 60.42 | |
| S1 | 59.50 | -1.53% |
| S2 | 59.09 | -2.20% |
| S3 | 58.43 | -3.29% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 70.10 | 16.02% |
| R2 | 67.01 | 10.91% |
| R1 | 65.77 | 8.85% |
| Price | 60.42 | |
| S1 | 60.33 | -0.149% |
| S2 | 60.20 | -0.364% |
| S3 | 59.59 | -1.37% |
603338 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 26, 2024 | Jun 26, 2024 | Jun 26, 2024 | $1.00 | 1.67% |
| 2 | Jul 06, 2023 | Jul 06, 2023 | Jul 06, 2023 | $0.500 | 0.89% |
| 3 | Jun 23, 2022 | Jun 23, 2022 | Jun 23, 2022 | $0.340 | 0.698% |
| 4 | Jul 09, 2021 | Jul 09, 2021 | Jul 09, 2021 | $0.260 | 0.447% |
| 5 | Jun 05, 2020 | Jun 05, 2020 | Jun 05, 2020 | $0.250 | 0.357% |
FAQ
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