Jiangsu Fasten Co., Ltd Stock Forecast
High volatility in Jiangsu Fasten Co., Ltd stock price on Monday which ended trading at ¥3.48
(Updated on Apr 15, 2024)
The Jiangsu Fasten Co., Ltd stock price fell by -8.66% on the last day (Monday, 15th Apr 2024) from ¥3.81 to ¥3.48. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 16.33% from a day low at ¥3.43 to a day high of ¥3.99. The price has fallen in 6 of the last 10 days and is down by -14.29% for this period. 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, 30 million shares were bought and sold for approximately ¥104.76 million.
The stock lies in the middle of a very 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 11.29% during the next 3 months and, with a 90% probability hold a price between ¥3.46 and ¥5.21 at the end of this 3-month period.
000890.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Jiangsu Fasten Co., Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ¥4.07 and ¥3.97. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -24.68%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Jiangsu Fasten Co., Ltd stock
Jiangsu Fasten Co., Ltd finds support from accumulated volume at ¥3.43 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 ¥0.560 between high and low, or 16.33%. For the last week, the stock has had daily average volatility of 15.99%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000890.SZ) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect Jiangsu Fasten Co., Ltd to open at ¥3.63, and during the day (based on 14 day Average True Range), to move between ¥3.04 and ¥3.92, which gives a possible trading interval of +/-¥0.444 (+/-12.75%) up or down from last closing price. If Jiangsu Fasten Co., Ltd takes out the full calculated possible swing range there will be an estimated 25.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥3.43 (1.44%) than the resistance at ¥3.91 (12.36%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Jiangsu Fasten Co., Ltd stock A Buy?
The Jiangsu Fasten Co., Ltd stock holds several negative signals and despite the positive trend, we believe Jiangsu Fasten Co., Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.493 Sell Candidate Unchanged
Predicted Opening Price for Jiangsu Fasten Co., Ltd of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| ¥3.63 ( 4.41%) | ¥3.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000890.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.19 | 20.50 % | |
| R2 | 3.98 | 14.35 % | ||
| R1 | 3.85 | 10.55 % | ||
| Current price: | 3.48 | |||
| Support | S1 | 3.42 | -1.74 % | |
| S2 | 3.29 | -5.54 % | ||
| S3 | 3.07 | -11.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.06 | 16.67 % | |
| R2 | 4.02 | 15.52 % | ||
| R1 | 3.91 | 12.36 % | ||
| Current price | 3.48 | |||
| Support | S1 | 3.43 | -1.44% | |
| S2 | 2.88 | -17.24% | ||
| S3 | 2.85 | -18.10% |
000890 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 07, 2017 | Jun 07, 2017 | Jun 07, 2017 | ¥0.100 | 1.22% |
| 2 | Jun 15, 2016 | Jun 15, 2016 | Jun 15, 2016 | ¥0.0100 | 0.0939% |
| 3 | Jun 12, 2014 | Jun 12, 2014 | Jun 12, 2014 | ¥0.0200 | 0.477% |
| 4 | Jul 18, 2013 | Jul 18, 2013 | Jul 18, 2013 | ¥0.0200 | 0.514% |
| 5 | Oct 24, 2012 | Oct 24, 2012 | Oct 24, 2012 | ¥0.0200 | 0.506% |
FAQ
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