111, Inc. Stock Forecast
Stronger technical forecast for 111, Inc. stock price after Friday trading.
(Updated on May 03, 2024)
The 111, Inc. stock price gained 2.68% on the last trading day (Friday, 3rd May 2024), rising from $1.12 to $1.15. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.42% from a day low at $1.13 to a day high of $1.18. The price has risen in 7 of the last 10 days and is up by 12.75% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 thousand more shares were traded than the day before. In total, 42 thousand shares were bought and sold for approximately $48.00 thousand.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $1.04, a level that may pose a second chance to hit a runner. According to fan-theory $1.28 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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YI Signals & Forecast
Mostly positive signals in the chart today. The 111, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $1.07 and $1.13. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 18.54%. 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). 111, Inc. 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for 111, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.06 and $1.04. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, 111, Inc. finds support just below today's level at $1.06. If this is broken, then the next support from accumulated volume will be at $1.04 and $1.01.
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 $0.0500 between high and low, or 4.42%. For the last week, the stock has had daily average volatility of 5.96%.
Our recommended stop-loss: $1.11 (-3.70%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (YI) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect 111, Inc. to open at $1.15, and during the day (based on 14 day Average True Range), to move between $1.07 and $1.23, which gives a possible trading interval of +/-$0.0767 (+/-6.67%) up or down from last closing price. If 111, Inc. takes out the full calculated possible swing range there will be an estimated 13.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.16 (0.87%) than the support at $1.06 (7.83%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is 111, Inc. stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.288 Buy Candidate Upgraded
Predicted Opening Price for 111, Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $1.15 ( 0.290%) | $1.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for YI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.20 | 4.64 % | |
| R2 | 1.18 | 2.98 % | ||
| R1 | 1.17 | 1.95 % | ||
| Current price: | 1.15 | |||
| Support | S1 | 1.13 | -1.37 % | |
| S2 | 1.12 | -2.40 % | ||
| S3 | 1.10 | -4.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.35 | 17.39 % | |
| R2 | 1.22 | 6.09 % | ||
| R1 | 1.16 | 0.87 % | ||
| Current price | 1.15 | |||
| Support | S1 | 1.06 | -7.83% | |
| S2 | 1.04 | -9.57% | ||
| S3 | 1.01 | -12.17% |
FAQ
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