Jiangsu Eastern Shenghong Co Ltd Stock Forecast
Red day on Monday for Jiangsu Eastern Shenghong Co Ltd
(Updated on May 20, 2024)
The Jiangsu Eastern Shenghong Co Ltd stock price fell by -0.715% on the last day (Monday, 20th May 2024) from ¥9.79 to ¥9.72. During the last trading day the stock fluctuated 3.01% from a day low at ¥9.65 to a day high of ¥9.94. The price has fallen in 8 of the last 10 days and is down by -4.24% for this period. Volume has increased on the last day by 4 million 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, 15 million shares were bought and sold for approximately ¥143.97 million.
The stock lies in the lower of a falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥9.63 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -7.23% during the next 3 months and, with a 90% probability hold a price between ¥8.94 and ¥9.54 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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000301.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 16, 2024, and so far it has risen 0.621%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Jiangsu Eastern Shenghong 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 ¥9.79 and ¥10.13. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Jiangsu Eastern Shenghong Co Ltd stock
Jiangsu Eastern Shenghong Co Ltd finds support from accumulated volume at ¥9.66 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ¥0.290 (3.01%) between high and low. For the last week, the stock has had daily average volatility of 3.79%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000301.SZ) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Jiangsu Eastern Shenghong Co Ltd to open at ¥9.77, and during the day (based on 14 day Average True Range), to move between ¥9.38 and ¥10.06, which gives a possible trading interval of +/-¥0.342 (+/-3.52%) up or down from last closing price. If Jiangsu Eastern Shenghong Co Ltd takes out the full calculated possible swing range there will be an estimated 7.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥9.66 (0.62%) than the resistance at ¥9.92 (2.06%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Jiangsu Eastern Shenghong Co Ltd stock A Buy?
Jiangsu Eastern Shenghong Co Ltd holds several negative signals and is within a 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: -2.630 Sell Candidate Unchanged
Predicted Opening Price for Jiangsu Eastern Shenghong Co Ltd of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ¥9.77 ( 0.514%) | ¥9.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000301.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.06 | 3.50 % | |
| R2 | 9.95 | 2.36 % | ||
| R1 | 9.88 | 1.65 % | ||
| Current price: | 9.72 | |||
| Support | S1 | 9.66 | -0.625 % | |
| S2 | 9.59 | -1.33 % | ||
| S3 | 9.48 | -2.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.50 | 8.02 % | |
| R2 | 10.34 | 6.38 % | ||
| R1 | 9.92 | 2.06 % | ||
| Current price | 9.72 | |||
| Support | S1 | 9.66 | -0.617% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
000301 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 22, 2023 | May 22, 2023 | May 22, 2023 | ¥0.100 | 0.86% |
| 2 | May 27, 2022 | May 27, 2022 | May 27, 2022 | ¥0.150 | 0.98% |
| 3 | Jun 18, 2021 | Jun 18, 2021 | Jun 18, 2021 | ¥0.100 | 0.638% |
| 4 | May 14, 2020 | May 14, 2020 | May 14, 2020 | ¥0.100 | 2.06% |
| 5 | Jun 21, 2019 | Jun 21, 2019 | Jun 21, 2019 | ¥0.100 | 1.78% |
FAQ
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