Jizhong Energy Resources 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
Jizhong Energy Resources Co Ltd stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on May 16, 2024)
The Jizhong Energy Resources Co Ltd stock price gained 0.89% on the last trading day (Thursday, 16th May 2024), rising from ¥7.89 to ¥7.96. During the last trading day the stock fluctuated 1.52% from a day low at ¥7.89 to a day high of ¥8.01. The price has risen in 8 of the last 10 days and is up by 6.42% over the past 2 weeks. Volume fell on the last day by -816 thousand shares and in total, 31 million shares were bought and sold for approximately ¥249.65 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 -3.12% during the next 3 months and, with a 90% probability hold a price between ¥7.11 and ¥8.10 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 -0.87%. 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 ¥7.94 and ¥7.84. 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 8.29% to ¥8.62 within 20 trading days since signal was issued (Friday, May 17, 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 ¥0.120 between high and low, or 1.52%. For the last week, the stock has had daily average volatility of 2.54%.
Our recommended stop-loss: ¥7.68 (-3.58%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (000937.SZ) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Jizhong Energy Resources Co Ltd to open at ¥7.95, and during the day (based on 14 day Average True Range), to move between ¥7.59 and ¥8.33, which gives a possible trading interval of +/-¥0.368 (+/-4.62%) 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 9.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥7.95 (0.13%) than the resistance at ¥8.03 (0.88%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Jizhong Energy Resources Co Ltd stock A Buy?
Jizhong Energy Resources Co Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.820 Hold/Accumulate Upgraded
Predicted Opening Price for Jizhong Energy Resources Co Ltd of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| ¥7.95 ( 0.0838%) | ¥7.96 |
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 | 1.42 % | |
| R2 | 8.03 | 0.85 % | ||
| R1 | 8.00 | 0.492 % | ||
| Current price: | 7.96 | |||
| Support | S1 | 7.91 | -0.660 % | |
| S2 | 7.88 | -1.02 % | ||
| S3 | 7.83 | -1.59 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.31 | 4.40 % | |
| R2 | 8.23 | 3.39 % | ||
| R1 | 8.03 | 0.88 % | ||
| Current price | 7.96 | |||
| Support | S1 | 7.95 | -0.126% | |
| S2 | 7.77 | -2.39% | ||
| S3 | 7.48 | -6.03% |
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.
