Jinhong Holding Group Co Ltd Stock Forecast
Big movements in Jinhong Holding Group Co Ltd stock price on Friday moving 13.18% between high and low
(Updated on Apr 26, 2024)
The Jinhong Holding Group Co Ltd stock price fell by -3.40% on the last day (Friday, 26th Apr 2024) from ¥1.47 to ¥1.42. During the last trading day the stock fluctuated 13.18% from a day low at ¥1.29 to a day high of ¥1.46. The price has been going up and down for this period, and there has been a -4.7% loss for the last 2 weeks. Volume has increased on the last day by 355 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 12 million shares were bought and sold for approximately ¥16.46 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -15.12% during the next 3 months and, with a 90% probability hold a price between ¥1.06 and ¥1.40 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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000669.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 10.94%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Jinhong Holding Group Co Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ¥1.53. On a fall, the stock will find some support from the short-term average at ¥1.38. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Jinhong Holding Group Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥1.31 and ¥1.30. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Jinhong Holding Group Co Ltd finds support just below today's level at ¥1.31. If this is broken, then the next support from accumulated volume will be at ¥1.30 and ¥1.28.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ¥0.170 between high and low, or 13.18%. For the last week, the stock has had daily average volatility of 10.40%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000669.SZ) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Jinhong Holding Group Co Ltd to open at ¥1.39, and during the day (based on 14 day Average True Range), to move between ¥1.30 and ¥1.54, which gives a possible trading interval of +/-¥0.117 (+/-8.26%) up or down from last closing price. If Jinhong Holding Group Co Ltd takes out the full calculated possible swing range there will be an estimated 16.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥1.49 (4.93%) than the support at ¥1.31 (7.75%), 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 Jinhong Holding Group Co Ltd stock A Buy?
Jinhong Holding Group Co Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.744 Sell Candidate Unchanged
Predicted Opening Price for Jinhong Holding Group Co Ltd of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ¥1.39 ( 2.11%) | ¥1.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000669.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.56 | 9.86 % | |
| R2 | 1.50 | 5.29 % | ||
| R1 | 1.45 | 2.46 % | ||
| Current price: | 1.42 | |||
| Support | S1 | 1.33 | -6.69 % | |
| S2 | 1.28 | -9.51 % | ||
| S3 | 1.22 | -14.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.58 | 11.27 % | |
| R2 | 1.57 | 10.56 % | ||
| R1 | 1.49 | 4.93 % | ||
| Current price | 1.42 | |||
| Support | S1 | 1.31 | -7.75% | |
| S2 | 1.30 | -8.45% | ||
| S3 | 1.28 | -9.86% |
000669 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 12, 2017 | Jul 12, 2017 | Jul 12, 2017 | ¥0.0714 | 0.412% |
| 2 | Jul 04, 2016 | Jul 04, 2016 | Jul 04, 2016 | ¥0.107 | 0.643% |
| 3 | Jun 26, 2015 | Jun 26, 2015 | Jun 26, 2015 | ¥0.143 | 0.382% |
| 4 | Jun 04, 2014 | Jun 04, 2014 | Jun 04, 2014 | ¥0.0952 | 0.555% |
| 5 | Jun 17, 2002 | Jun 17, 2002 | Jun 17, 2002 | ¥0.0127 | 0.265% |
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