Jizhong Energy Resources Co Ltd Stock Forecast
Jizhong Energy Resources Co Ltd stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on May 17, 2024)
The Jizhong Energy Resources Co Ltd stock price gained 0.503% on the last trading day (Friday, 17th May 2024), rising from ¥7.96 to ¥8.00. It has now gained 3 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 1.26% from a day low at ¥7.91 to a day high of ¥8.01. The price has risen in 8 of the last 10 days and is up by 6.81% over the past 2 weeks. Volume fell on the last day by -10 million shares and in total, 22 million shares were bought and sold for approximately ¥173.69 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 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 -3.51% during the next 3 months and, with a 90% probability hold a price between ¥7.06 and ¥8.05 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
000937.SZ Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, May 10, 2024, and so far it has fallen -0.374%. 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). The Jizhong Energy Resources 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 ¥7.95 and ¥7.85. A breakdown below any of these levels will issue sell signals. 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.
A buy signal from a double bottom formation was found on Monday, April 29, 2024 and based on theory for this formation the price should go up by 7.75% to ¥8.62 within 20 trading days since signal was issued (Monday, May 20, 2024).
Support, Risk & Stop-loss for Jizhong Energy Resources Co Ltd stock
Jizhong Energy Resources Co Ltd finds support from accumulated volume at ¥7.95 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 ¥0.1000 between high and low, or 1.26%. For the last week, the stock has had daily average volatility of 2.36%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000937.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Jizhong Energy Resources Co Ltd to open at ¥7.97, and during the day (based on 14 day Average True Range), to move between ¥7.65 and ¥8.35, which gives a possible trading interval of +/-¥0.349 (+/-4.36%) up or down from last closing price. If Jizhong Energy Resources Co Ltd takes out the full calculated possible swing range there will be an estimated 8.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥8.03 (0.37%) than the support at ¥7.95 (0.62%), 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 Jizhong Energy Resources Co Ltd stock A Buy?
Jizhong Energy Resources 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 Hold/Accumulate to a Sell candidate.
Current score: -1.292 Sell Candidate Downgraded
Predicted Opening Price for Jizhong Energy Resources Co Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥7.97 ( 0.333%) | ¥8.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000937.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.07 | 0.92 % | |
| R2 | 8.04 | 0.439 % | ||
| R1 | 8.01 | 0.144 % | ||
| Current price: | 8.00 | |||
| Support | S1 | 7.94 | -0.81 % | |
| S2 | 7.91 | -1.11 % | ||
| S3 | 7.87 | -1.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.31 | 3.88 % | |
| R2 | 8.23 | 2.88 % | ||
| R1 | 8.03 | 0.375 % | ||
| Current price | 8.00 | |||
| Support | S1 | 7.95 | -0.625% | |
| S2 | 7.77 | -2.88% | ||
| S3 | 7.48 | -6.50% |
000937 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 30, 2023 | Jun 30, 2023 | Jun 30, 2023 | ¥1.00 | 15.67% |
| 2 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | ¥1.00 | 13.21% |
| 3 | Aug 13, 2021 | Aug 13, 2021 | Aug 13, 2021 | ¥0.400 | 9.41% |
| 4 | Aug 12, 2020 | Aug 12, 2020 | Aug 12, 2020 | ¥0.100 | 2.93% |
| 5 | May 29, 2019 | May 29, 2019 | May 29, 2019 | ¥0.100 | 2.58% |
FAQ
Click here for our free guide on how to buy Jizhong Energy Resources Co Ltd Stock.
