Li Ning Company Limited Stock Forecast

Li Ning Company Limited stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on May 30, 2024)

LNNGY Signals & Forecast

The Li Ning Company Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $70.74. On a fall, the stock will find some support from the long-term average at approximately $66.11. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Li Ning Company Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -11.17%. 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).

Support, Risk & Stop-loss for Li Ning Company Limited stock

Li Ning Company Limited finds support from accumulated volume at $65.83 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 $1.11 between high and low, or 1.67%. For the last week, the stock has had daily average volatility of 2.86%.

Our recommended stop-loss: $63.70 (-5.93%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 28 days ago.)

Trading Expectations (LNNGY) For The Upcoming Trading Day Of Friday 31st

For the upcoming trading day on Friday, 31st we expect Li Ning Company Limited to open at $67.40, and during the day (based on 14 day Average True Range), to move between $64.52 and $70.90, which gives a possible trading interval of +/-$3.19 (+/-4.71%) up or down from last closing price. If Li Ning Company Limited takes out the full calculated possible swing range there will be an estimated 9.42% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $65.83 (2.78%) than the resistance at $71.17 (5.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Li Ning Company Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Li Ning Company Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.453 Buy Candidate Upgraded

Predicted Opening Price for Li Ning Company Limited of Friday, May 31, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.