Jilin Chemical Fibre Stock Co Ltd Stock Forecast
Volatile ride for Jilin Chemical Fibre Stock Co Ltd stock price on Monday moving between ¥3.84 and ¥4.57
(Updated on May 20, 2024)
The Jilin Chemical Fibre Stock Co Ltd stock price gained 1.90% on the last trading day (Monday, 20th May 2024), rising from ¥4.22 to ¥4.30. It has now gained 5 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 19.01% from a day low at ¥3.84 to a day high of ¥4.57. The price has risen in 6 of the last 10 days and is up by 13.46% 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, 187 million more shares were traded than the day before. In total, 370 million shares were bought and sold for approximately ¥1.59 billion.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ¥4.39 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 39.87% during the next 3 months and, with a 90% probability hold a price between ¥5.07 and ¥6.14 at the end of this 3-month period.
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000420.SZ Signals & Forecast
The Jilin Chemical Fibre Stock Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ¥3.85 and ¥3.71. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 35.65%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Jilin Chemical Fibre Stock Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥3.85 and ¥3.78. 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, Jilin Chemical Fibre Stock Co Ltd finds support just below today's level at ¥3.85. If this is broken, then the next support from accumulated volume will be at ¥3.78 and ¥3.58.
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 ¥0.730 between high and low, or 19.01%. For the last week, the stock has had daily average volatility of 10.70%.
Our recommended stop-loss: ¥4.15 (-3.60%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 25 days ago.)
Trading Expectations (000420.SZ) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Jilin Chemical Fibre Stock Co Ltd to open at ¥4.24, and during the day (based on 14 day Average True Range), to move between ¥4.02 and ¥4.58, which gives a possible trading interval of +/-¥0.275 (+/-6.41%) up or down from last closing price. If Jilin Chemical Fibre Stock Co Ltd takes out the full calculated possible swing range there will be an estimated 12.81% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ¥3.85, some ¥0.450 (10.47%) from the current price of ¥4.30, our system finds the risk reward attractive.
Earnings coming up
Jilin Chemical Fibre Stock Co Ltd will release earnings BMO on Friday, May 24, 2024. We will update the financials statements for Jilin Chemical Fibre Stock Co Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.78% in the first trading day after earnings release.
Is Jilin Chemical Fibre Stock Co Ltd stock A Buy?
Jilin Chemical Fibre Stock Co Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Jilin Chemical Fibre Stock Co Ltd of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ¥4.24 ( 1.47%) | ¥4.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000420.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.97 | 15.50 % | |
| R2 | 4.69 | 9.02 % | ||
| R1 | 4.52 | 5.01 % | ||
| Current price: | 4.30 | |||
| Support | S1 | 3.96 | -7.96 % | |
| S2 | 3.79 | -11.96 % | ||
| S3 | 3.51 | -18.45 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 4.30 | |||
| Support | S1 | 3.85 | -10.47% | |
| S2 | 3.78 | -12.09% | ||
| S3 | 3.58 | -16.74% |
000420 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 14, 2006 | Jul 14, 2006 | Jul 14, 2006 | ¥0.0400 | 3.39% |
| 2 | Jul 09, 2004 | Jul 09, 2004 | Jul 09, 2004 | ¥0.0379 | 2.08% |
| 3 | Jun 28, 2001 | Jun 28, 2001 | Jun 28, 2001 | ¥0.0455 | 1.32% |
| 4 | Apr 19, 2000 | Apr 19, 2000 | Apr 19, 2000 | ¥0.0379 | 1.21% |
| 5 | Jun 15, 1998 | Jun 15, 1998 | Jun 15, 1998 | ¥0.0455 | 1.51% |
FAQ
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