Ningbo Jifeng Auto Parts Co., Ltd. Stock Forecast
Ningbo Jifeng Auto Parts Co., Ltd. stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on Jun 27, 2024)
The Ningbo Jifeng Auto Parts Co., Ltd. stock price fell by -2.90% on the last day (Thursday, 27th Jun 2024) from $10.34 to $10.04. During the last trading day the stock fluctuated 4.21% from a day low at $9.97 to a day high of $10.39. The price has fallen in 7 of the last 10 days and is down by -10.6% 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 -3 million shares and in total, 6 million shares were bought and sold for approximately $61.22 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -19.11% during the next 3 months and, with a 90% probability hold a price between $7.67 and $9.66 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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603997.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 Ningbo Jifeng Auto Parts 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 $10.44 and $11.49. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -26.50%. 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.
Support, Risk & Stop-loss for Ningbo Jifeng Auto Parts Co., Ltd. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.420 between high and low, or 4.21%. For the last week, the stock has had daily average volatility of 3.82%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (603997.SS) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Ningbo Jifeng Auto Parts Co., Ltd. to open at $10.13, and during the day (based on 14 day Average True Range), to move between $9.65 and $10.43, which gives a possible trading interval of +/-$0.390 (+/-3.88%) up or down from last closing price. If Ningbo Jifeng Auto Parts Co., Ltd. takes out the full calculated possible swing range there will be an estimated 7.76% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $10.34, some $0.300 (2.99%) from the current price of $10.04, our system finds the risk reward not very attractive.
Is Ningbo Jifeng Auto Parts Co., Ltd. stock A Buy?
Ningbo Jifeng Auto Parts Co., Ltd. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -4.713 Sell Candidate Downgraded
Predicted Opening Price for Ningbo Jifeng Auto Parts Co., Ltd. of Friday, June 28, 2024
Fair opening price June 28, 2024 | Current price |
---|---|
$10.13 ( 0.93%) | $10.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 603997.SS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 10.55 | 5.11% |
R2 | 10.39 | 3.51% |
R1 | 10.29 | 2.53% |
Price | 10.04 | |
S1 | 9.97 | -0.668% |
S2 | 9.87 | -1.66% |
S3 | 9.71 | -3.25% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 11.25 | 12.05% |
R2 | 11.23 | 11.85% |
R1 | 10.34 | 2.99% |
Price | 10.04 | |
S1 | 0 | - |
S2 | 0 | - |
S3 | 0 | - |
603997 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Sep 13, 2021 | Sep 13, 2021 | Sep 13, 2021 | $0.180 | 1.83% |
2 | May 07, 2020 | May 07, 2020 | May 07, 2020 | $0.200 | 2.71% |
3 | May 20, 2019 | May 20, 2019 | May 20, 2019 | $0.312 | 3.82% |
4 | May 24, 2018 | May 24, 2018 | May 24, 2018 | $0.280 | 2.52% |
5 | May 25, 2017 | May 25, 2017 | May 25, 2017 | $0.160 | 1.05% |
FAQ
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