Yirendai Ltd Stock Forecast
Yirendai Ltd stock upgraded from Sell Candidate to Buy Candidate after Tuesday trading session.
(Updated on Apr 23, 2024)
The Yirendai Ltd stock price gained 1.01% on the last trading day (Tuesday, 23rd Apr 2024), rising from $4.97 to $5.02. During the last trading day the stock fluctuated 4.92% from a day low at $4.88 to a day high of $5.12. The price has been going up and down for this period, and there has been a -2.33% loss for the last 2 weeks. Volume fell on the last day by -31 thousand shares and in total, 80 thousand shares were bought and sold for approximately $402.93 thousand. 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 middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.46% during the next 3 months and, with a 90% probability hold a price between $4.70 and $6.06 at the end of this 3-month period.
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YRD Signals & Forecast
The Yirendai Ltd 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 $4.86 and $5.00. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -4.92%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Yirendai Ltd stock
Yirendai Ltd finds support from accumulated volume at $4.83 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.240 between high and low, or 4.92%. For the last week the stock has had daily average volatility of 4.31%.
Our recommended stop-loss: $4.79 (-4.54%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (YRD) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Yirendai Ltd to open at $5.01, and during the day (based on 14 day Average True Range), to move between $4.72 and $5.32, which gives a possible trading interval of +/-$0.302 (+/-6.01%) up or down from last closing price. If Yirendai Ltd takes out the full calculated possible swing range there will be an estimated 12.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.07 (1.00%) than the support at $4.83 (3.78%), 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 Yirendai Ltd 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 Yirendai Ltd stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.408 Buy Candidate Upgraded
Predicted Opening Price for Yirendai Ltd of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $5.01 ( 0.266%) | $5.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for YRD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.25 | 4.52 % | |
| R2 | 5.15 | 2.69 % | ||
| R1 | 5.10 | 1.56 % | ||
| Current price: | 5.02 | |||
| Support | S1 | 4.91 | -2.09 % | |
| S2 | 4.86 | -3.22 % | ||
| S3 | 4.77 | -5.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.45 | 8.57 % | |
| R2 | 5.38 | 7.17 % | ||
| R1 | 5.07 | 1.00 % | ||
| Current price | 5.02 | |||
| Support | S1 | 4.83 | -3.78% | |
| S2 | 4.51 | -10.16% | ||
| S3 | 4.42 | -11.95% |
YRD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 15, 2018 | Apr 27, 2018 | May 15, 2018 | $0.280 | 0.92% |
| 2 | Aug 01, 2017 | Sep 28, 2017 | Oct 16, 2017 | $1.50 | 2.92% |
FAQ
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