CNinsure Inc Stock Forecast
CNinsure Inc stock price ended at $2.65 on Friday, after losing 3.28%.
(Updated on Jun 21, 2024)
The CNinsure Inc stock price fell by -3.28% on the last day (Friday, 21st Jun 2024) from $2.74 to $2.65. During the last trading day the stock fluctuated 6.90% from a day low at $2.61 to a day high of $2.79. The price has fallen in 7 of the last 10 days and is down by -13.96% for this period. Volume has increased on the last day by 68 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 124 thousand shares were bought and sold for approximately $328.63 thousand.
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 -34.81% during the next 3 months and, with a 90% probability hold a price between $1.43 and $2.13 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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FANH Signals & Forecast
There are few to no technical positive signals at the moment. The CNinsure Inc 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 $2.81 and $3.18. 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 14, 2024, and so far it has fallen -25.39%. 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). CNinsure Inc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for CNinsure Inc 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 $0.180 between high and low, or 6.90%. For the last week, the stock has had daily average volatility of 6.06%.
CNinsure Inc is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FANH) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect CNinsure Inc to open at $2.68, and during the day (based on 14 day Average True Range), to move between $2.43 and $2.87, which gives a possible trading interval of +/-$0.218 (+/-8.22%) up or down from last closing price. If CNinsure Inc takes out the full calculated possible swing range there will be an estimated 16.44% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $2.82, some $0.170 (6.42%) from the current price of $2.65, our system finds the risk reward not very attractive.
Earnings coming up
CNinsure Inc will release earnings BMO on Tuesday, June 25, 2024. We will update the financials statements for CNinsure Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.48% in the first trading day after earnings release.
Is CNinsure Inc stock A Buy?
CNinsure Inc 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.
Current score: -5.857 Strong Sell Candidate Unchanged
Predicted Opening Price for CNinsure Inc of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $2.68 ( 1.26%) | $2.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FANH
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.86 | 8.05% |
| R2 | 2.79 | 5.46% |
| R1 | 2.75 | 3.85% |
| Price | 2.65 | |
| S1 | 2.61 | -1.34% |
| S2 | 2.57 | -2.94% |
| S3 | 2.50 | -5.53% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.20 | 20.75% |
| R2 | 3.02 | 13.96% |
| R1 | 2.82 | 6.42% |
| Price | 2.65 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FANH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 29, 2022 | Apr 11, 2022 | Apr 26, 2022 | $0.150 | 2.44% |
| 2 | Nov 24, 2021 | Dec 07, 2021 | Dec 22, 2021 | $0.150 | 2.04% |
| 3 | Aug 23, 2021 | Sep 10, 2021 | Sep 23, 2021 | $0.150 | 1.24% |
| 4 | Aug 23, 2021 | Sep 03, 2021 | Sep 23, 2021 | $0.150 | 1.24% |
| 5 | May 27, 2021 | Jun 10, 2021 | Jun 25, 2021 | $0.150 | 0.98% |
FAQ
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