Shandong Jinling Mining Co., Ltd. Stock Forecast
Green day on Tuesday for Shandong Jinling Mining Co., Ltd.
(Updated on May 21, 2024)
The Shandong Jinling Mining Co., Ltd. stock price gained 0.295% on the last trading day (Tuesday, 21st May 2024), rising from ¥6.77 to ¥6.79. It has now gained 4 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 5.84% from a day low at ¥6.51 to a day high of ¥6.89. The price has risen in 6 of the last 10 days and is up by 3.19% over the past 2 weeks. Volume fell on the last day by -3 million shares and in total, 12 million shares were bought and sold for approximately ¥81.68 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 13.95% during the next 3 months and, with a 90% probability hold a price between ¥7.23 and ¥8.41 at the end of this 3-month period.
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000655.SZ Signals & Forecast
Mostly positive signals in the chart today. The Shandong Jinling Mining 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 ¥6.57 and ¥6.48. 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 13.17%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Shandong Jinling Mining Co., Ltd. stock
Shandong Jinling Mining Co., Ltd. finds support from accumulated volume at ¥6.58 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 ¥0.380 (5.84%) between high and low. For the last week, the stock has had daily average volatility of 3.75%.
Our recommended stop-loss: ¥6.52 (-4.03%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (000655.SZ) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Shandong Jinling Mining Co., Ltd. to open at ¥6.73, and during the day (based on 14 day Average True Range), to move between ¥6.50 and ¥7.08, which gives a possible trading interval of +/-¥0.290 (+/-4.27%) up or down from last closing price. If Shandong Jinling Mining Co., Ltd. takes out the full calculated possible swing range there will be an estimated 8.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥6.90 (1.62%) than the support at ¥6.58 (3.09%), 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 Shandong Jinling Mining Co., Ltd. stock A Buy?
Shandong Jinling Mining Co., Ltd. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 5.785 Strong Buy Candidate Unchanged
Predicted Opening Price for Shandong Jinling Mining Co., Ltd. of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| ¥6.73 ( 0.88%) | ¥6.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000655.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.11 | 4.71 % | |
| R2 | 6.96 | 2.57 % | ||
| R1 | 6.88 | 1.25 % | ||
| Current price: | 6.79 | |||
| Support | S1 | 6.58 | -3.02 % | |
| S2 | 6.50 | -4.34 % | ||
| S3 | 6.35 | -6.48 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 7.01 | 3.24 % | ||
| R1 | 6.90 | 1.62 % | ||
| Current price | 6.79 | |||
| Support | S1 | 6.58 | -3.09% | |
| S2 | 6.49 | -4.42% | ||
| S3 | 6.30 | -7.22% |
000655 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 25, 2023 | May 25, 2023 | May 25, 2023 | ¥0.0500 | 0.782% |
| 2 | Jun 06, 2022 | Jun 06, 2022 | Jun 06, 2022 | ¥0.0500 | 0.660% |
| 3 | Jun 04, 2021 | Jun 04, 2021 | Jun 04, 2021 | ¥0.100 | 0.94% |
| 4 | Jun 18, 2014 | Jun 18, 2014 | Jun 18, 2014 | ¥0.100 | 1.48% |
| 5 | Oct 17, 2013 | Oct 17, 2013 | Oct 17, 2013 | ¥0.100 | 1.21% |
FAQ
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