Jilin Aodong Medicine Industry Group Co. Stock Forecast
Jilin Aodong Medicine Industry Group Co. stock price ended at ¥14.99 on Tuesday, after losing 0.597%.
(Updated on May 07, 2024)
The Jilin Aodong Medicine Industry Group Co. stock price fell by -0.597% on the last day (Tuesday, 7th May 2024) from ¥15.08 to ¥14.99. During the last trading day the stock fluctuated 1.14% from a day low at ¥14.92 to a day high of ¥15.09. The price has risen in 6 of the last 10 days and is up by 2.18% over the past 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 -6 million shares and in total, 11 million shares were bought and sold for approximately ¥165.27 million.
The stock lies the upper part of a falling 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 ¥15.21 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -3.64% during the next 3 months and, with a 90% probability hold a price between ¥13.47 and ¥14.66 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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000623.SZ Signals & Forecast
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 ¥14.96 and ¥14.70. 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 Monday, April 29, 2024, and so far it has fallen -1.64%. 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 Jilin Aodong Medicine Industry Group Co. stock
Jilin Aodong Medicine Industry Group Co. finds support from accumulated volume at ¥14.98 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 ¥0.170 between high and low, or 1.14%. For the last week the stock has had daily average volatility of 2.04%.
Our recommended stop-loss: ¥14.36 (-4.22%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (000623.SZ) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Jilin Aodong Medicine Industry Group Co. to open at ¥15.00, and during the day (based on 14 day Average True Range), to move between ¥14.69 and ¥15.29, which gives a possible trading interval of +/-¥0.301 (+/-2.01%) 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 4.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥14.98 (0.07%) than the resistance at ¥15.08 (0.60%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Jilin Aodong Medicine Industry Group Co. stock A Buy?
Jilin Aodong Medicine Industry Group Co. 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: 0.163 Hold/Accumulate Unchanged
Predicted Opening Price for Jilin Aodong Medicine Industry Group Co. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| ¥15.00 ( 0.0667%) | ¥14.99 |
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 | 15.17 | 1.20 % | |
| R2 | 15.11 | 0.768 % | ||
| R1 | 15.06 | 0.500 % | ||
| Current price: | 14.99 | |||
| Support | S1 | 14.94 | -0.367 % | |
| S2 | 14.89 | -0.634 % | ||
| S3 | 14.83 | -1.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.18 | 1.27 % | |
| R2 | 15.15 | 1.07 % | ||
| R1 | 15.08 | 0.600 % | ||
| Current price | 14.99 | |||
| Support | S1 | 14.98 | -0.0667% | |
| S2 | 14.96 | -0.200% | ||
| S3 | 14.92 | -0.467% |
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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