Jiangmen Sugarcane Chmcl Fctry Grp CoLtd Stock Forecast
Red day on Tuesday for Jiangmen Sugarcane Chmcl Fctry Grp CoLtd stock after losing 1.34%
(Updated on May 21, 2024)
The Jiangmen Sugarcane Chmcl Fctry Grp CoLtd stock price fell by -1.34% on the last day (Tuesday, 21st May 2024) from ¥7.48 to ¥7.38. During the last trading day the stock fluctuated 2.76% from a day low at ¥7.25 to a day high of ¥7.45. The price has been going up and down for this period, and there has been a -1.86% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -391 thousand shares and in total, 3 million shares were bought and sold for approximately ¥22.87 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Jiangmen Sugarcane Chmcl Fctry Grp CoLtd stock with a 90% probability to be traded between ¥5.95 and ¥8.21 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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000576.SZ Signals & Forecast
The Jiangmen Sugarcane Chmcl Fctry Grp CoLtd 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 ¥7.33 and ¥7.30. 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, May 09, 2024, and so far it has fallen -3.15%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Jiangmen Sugarcane Chmcl Fctry Grp CoLtd stock
Jiangmen Sugarcane Chmcl Fctry Grp CoLtd finds support from accumulated volume at ¥7.24 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 ¥0.200 between high and low, or 2.76%. For the last week, the stock has had daily average volatility of 5.10%.
Our recommended stop-loss: ¥7.09 (-3.91%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 22 days ago.)
Trading Expectations (000576.SZ) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Jiangmen Sugarcane Chmcl Fctry Grp CoLtd to open at ¥7.36, and during the day (based on 14 day Average True Range), to move between ¥6.95 and ¥7.81, which gives a possible trading interval of +/-¥0.429 (+/-5.82%) up or down from last closing price. If Jiangmen Sugarcane Chmcl Fctry Grp CoLtd takes out the full calculated possible swing range there will be an estimated 11.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥7.40 (0.27%) than the support at ¥7.24 (1.90%), 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 Jiangmen Sugarcane Chmcl Fctry Grp CoLtd stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Jiangmen Sugarcane Chmcl Fctry Grp CoLtd stock to perform well in the short-term period.
Current score: 1.673 Buy Candidate Unchanged
Predicted Opening Price for Jiangmen Sugarcane Chmcl Fctry Grp CoLtd of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| ¥7.36 ( 0.271%) | ¥7.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000576.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.56 | 2.44 % | |
| R2 | 7.48 | 1.40 % | ||
| R1 | 7.44 | 0.764 % | ||
| Current price: | 7.38 | |||
| Support | S1 | 7.28 | -1.31 % | |
| S2 | 7.24 | -1.95 % | ||
| S3 | 7.16 | -2.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.98 | 8.13 % | |
| R2 | 7.92 | 7.32 % | ||
| R1 | 7.40 | 0.271 % | ||
| Current price | 7.38 | |||
| Support | S1 | 7.24 | -1.90% | |
| S2 | 6.79 | -7.99% | ||
| S3 | 6.75 | -8.54% |
000576 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 04, 2021 | Jun 04, 2021 | Jun 04, 2021 | ¥0.198 | 1.77% |
| 2 | Jul 13, 2001 | Jul 13, 2001 | Jul 13, 2001 | ¥0.0355 | 0.643% |
| 3 | Jun 02, 1998 | Jun 02, 1998 | Jun 02, 1998 | ¥0.0461 | 0.97% |
| 4 | Jun 23, 1997 | Jun 23, 1997 | Jun 23, 1997 | ¥0.0461 | 0.98% |
| 5 | Jul 17, 1996 | Jul 17, 1996 | Jul 17, 1996 | ¥0.128 | 3.75% |
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