Shandong Jinling Mining Co., Ltd. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Shandong Jinling Mining Co., Ltd. stock upgraded to Sell Candidate.
(Updated on May 31, 2024)
The Shandong Jinling Mining Co., Ltd. stock price fell by -1.58% on the last day (Friday, 31st May 2024) from ¥6.32 to ¥6.22. During the last trading day the stock fluctuated 2.42% from a day low at ¥6.20 to a day high of ¥6.35. The price has risen in 6 of the last 10 days but is still down by -4.16% for this period. 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 -2 million shares and in total, 9 million shares were bought and sold for approximately ¥53.85 million.
The stock has broken the wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at ¥6.33. A reaction back to this level may hold a second chance to get out before further falls.
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000655.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Shandong Jinling Mining Co., Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ¥6.45 and ¥6.50. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -9.46%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Shandong Jinling Mining Co., Ltd. stock
Shandong Jinling Mining Co., Ltd. finds support from accumulated volume at ¥6.17 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 ¥0.150 (2.42%) between high and low. For the last week, the stock has had daily average volatility of 4.51%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000655.SZ) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Shandong Jinling Mining Co., Ltd. to open at ¥6.26, and during the day (based on 14 day Average True Range), to move between ¥5.91 and ¥6.53, which gives a possible trading interval of +/-¥0.309 (+/-4.96%) 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 9.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥6.17 (0.80%) than the resistance at ¥6.30 (1.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Shandong Jinling Mining Co., Ltd. stock A Buy?
The Shandong Jinling Mining Co., Ltd. stock holds several negative signals and despite the positive trend, we believe Shandong Jinling Mining Co., Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -1.312 Sell Candidate Upgraded
Predicted Opening Price for Shandong Jinling Mining Co., Ltd. of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| ¥6.26 ( 0.589%) | ¥6.22 |
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 | 6.41 | 3.00 % | |
| R2 | 6.35 | 2.08 % | ||
| R1 | 6.31 | 1.51 % | ||
| Current price: | 6.22 | |||
| Support | S1 | 6.20 | -0.332 % | |
| S2 | 6.16 | -0.90 % | ||
| S3 | 6.11 | -1.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.79 | 9.16 % | |
| R2 | 6.49 | 4.34 % | ||
| R1 | 6.30 | 1.29 % | ||
| Current price | 6.22 | |||
| Support | S1 | 6.17 | -0.80% | |
| S2 | 6.00 | -3.54% | ||
| S3 | 5.91 | -4.98% |
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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