Jilin Aodong Medicine Industry Group Co. Stock Forecast
Jilin Aodong Medicine Industry Group Co. stock upgraded to Buy Candidate.
(Updated on Apr 26, 2024)
The Jilin Aodong Medicine Industry Group Co. stock price gained 2.65% on the last trading day (Friday, 26th Apr 2024), rising from ¥14.69 to ¥15.08. During the last trading day the stock fluctuated 3.14% from a day low at ¥14.65 to a day high of ¥15.11. The price has risen in 7 of the last 10 days and is up by 6.72% 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, 16 million more shares were traded than the day before. In total, 24 million shares were bought and sold for approximately ¥357.37 million.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ¥15.10 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Jilin Aodong Medicine Industry Group Co. stock with a 90% probability to be traded between ¥13.15 and ¥14.88 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. 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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000623.SZ Signals & Forecast
Mostly positive signals in the chart today. The Jilin Aodong Medicine Industry Group Co. 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 ¥14.78 and ¥14.69. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 6.72%. 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 Aodong Medicine Industry Group Co. stock
Jilin Aodong Medicine Industry Group Co. finds support from accumulated volume at ¥14.96 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ¥0.460 between high and low, or 3.14%. For the last week the stock has had daily average volatility of 1.57%.
Our recommended stop-loss: ¥14.42 (-4.40%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (000623.SZ) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Jilin Aodong Medicine Industry Group Co. to open at ¥14.95, and during the day (based on 14 day Average True Range), to move between ¥14.78 and ¥15.38, which gives a possible trading interval of +/-¥0.297 (+/-1.97%) up or down from last closing price. If Jilin Aodong Medicine Industry Group Co. takes out the full calculated possible swing range there will be an estimated 3.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥15.15 (0.46%) than the support at ¥14.96 (0.80%), 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 Jilin Aodong Medicine Industry Group Co. 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 Jilin Aodong Medicine Industry Group Co. stock to perform well in 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: 2.628 Buy Candidate Upgraded
Predicted Opening Price for Jilin Aodong Medicine Industry Group Co. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ¥14.95 ( 0.88%) | ¥15.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000623.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.41 | 2.17 % | |
| R2 | 15.23 | 1.00 % | ||
| R1 | 15.12 | 0.281 % | ||
| Current price: | 15.08 | |||
| Support | S1 | 14.77 | -2.05 % | |
| S2 | 14.66 | -2.77 % | ||
| S3 | 14.49 | -3.93 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.21 | 0.86 % | |
| R2 | 15.18 | 0.663 % | ||
| R1 | 15.15 | 0.464 % | ||
| Current price | 15.08 | |||
| Support | S1 | 14.96 | -0.796% | |
| S2 | 14.92 | -1.06% | ||
| S3 | 14.67 | -2.72% |
000623 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 07, 2023 | Jul 07, 2023 | Jul 07, 2023 | ¥0.300 | 1.91% |
| 2 | Jun 16, 2022 | Jun 16, 2022 | Jun 16, 2022 | ¥0.300 | 2.02% |
| 3 | Jul 09, 2021 | Jul 09, 2021 | Jul 09, 2021 | ¥0.200 | 1.33% |
| 4 | Jul 13, 2020 | Jul 13, 2020 | Jul 13, 2020 | ¥0.200 | 1.09% |
| 5 | Jun 19, 2019 | Jun 19, 2019 | Jun 19, 2019 | ¥0.200 | 1.21% |
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