Jinhong Holding Group Co Ltd Stock Forecast
Jinhong Holding Group Co Ltd stock price fell more than -5.06% Tuesday closing at ¥1.50
(Updated on May 07, 2024)
The Jinhong Holding Group Co Ltd stock price fell by -5.06% on the last day (Tuesday, 7th May 2024) from ¥1.58 to ¥1.50. During the last trading day the stock fluctuated 7.33% from a day low at ¥1.50 to a day high of ¥1.61. The price has risen in 7 of the last 10 days and is up by 14.5% over the past 2 weeks. Volume has increased on the last day by 6 million 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, 14 million shares were bought and sold for approximately ¥21.54 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 -9.43% during the next 3 months and, with a 90% probability hold a price between ¥1.13 and ¥1.53 at the end of this 3-month period.
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000669.SZ Signals & Forecast
There are mixed signals in the stock today. 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 ¥1.52. On a fall, the stock will find some support from the short-term average at ¥1.49. 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. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -5.06%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Jinhong Holding Group Co Ltd stock
Jinhong Holding Group Co Ltd finds support from accumulated volume at ¥1.49 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ¥0.110 between high and low, or 7.33%. For the last week, the stock has had daily average volatility of 7.94%.
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 Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Jinhong Holding Group Co Ltd to open at ¥1.54, and during the day (based on 14 day Average True Range), to move between ¥1.39 and ¥1.61, which gives a possible trading interval of +/-¥0.112 (+/-7.48%) 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 14.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥1.49 (0.67%) than the resistance at ¥1.57 (4.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -2.649 Sell Candidate Downgraded
Predicted Opening Price for Jinhong Holding Group Co Ltd of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| ¥1.54 ( 2.44%) | ¥1.50 |
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 | 1.65 | 9.78 % | |
| R2 | 1.60 | 6.98 % | ||
| R1 | 1.58 | 5.25 % | ||
| Current price: | 1.50 | |||
| Support | S1 | 1.49 | -0.357 % | |
| S2 | 1.47 | -2.09 % | ||
| S3 | 1.43 | -4.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.66 | 10.67 % | |
| R2 | 1.58 | 5.33 % | ||
| R1 | 1.57 | 4.67 % | ||
| Current price | 1.50 | |||
| Support | S1 | 1.49 | -0.667% | |
| S2 | 1.44 | -4.00% | ||
| S3 | 1.28 | -14.67% |
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% |
FAQ
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