Zoje Resources Investment Co Ltd Stock Forecast
Stronger technical forecast for Zoje Resources Investment Co Ltd stock price after Friday trading.
(Updated on May 17, 2024)
The Zoje Resources Investment Co Ltd stock price gained 3.06% on the last trading day (Friday, 17th May 2024), rising from ¥1.96 to ¥2.02. During the last trading day the stock fluctuated 5.18% from a day low at ¥1.93 to a day high of ¥2.03. The price has been going up and down for this period, and there has been a -0.49% loss for the last 2 weeks. Volume fell on the last day by -12 million shares and in total, 26 million shares were bought and sold for approximately ¥52.37 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 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 14.46% during the next 3 months and, with a 90% probability hold a price between ¥2.07 and ¥2.53 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.
002021.SZ Signals & Forecast
The Zoje Resources Investment 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 ¥1.93 and ¥1.92. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -0.493%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Zoje Resources Investment Co Ltd stock
Zoje Resources Investment Co Ltd finds support from accumulated volume at ¥1.98 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 5.18%. For the last week, the stock has had daily average volatility of 5.30%.
Our recommended stop-loss: ¥1.95 (-3.32%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (002021.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Zoje Resources Investment Co Ltd to open at ¥1.99, and during the day (based on 14 day Average True Range), to move between ¥1.90 and ¥2.14, which gives a possible trading interval of +/-¥0.118 (+/-5.86%) up or down from last closing price. If Zoje Resources Investment Co Ltd takes out the full calculated possible swing range there will be an estimated 11.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥2.03 (0.50%) than the support at ¥1.98 (1.98%), 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 Zoje Resources Investment Co Ltd stock A Buy?
Zoje Resources Investment Co Ltd holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.387 Strong Buy Candidate Upgraded
Predicted Opening Price for Zoje Resources Investment Co Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥1.99 ( 1.32%) | ¥2.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002021.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.09 | 3.63 % | |
| R2 | 2.06 | 1.74 % | ||
| R1 | 2.03 | 0.571 % | ||
| Current price: | 2.02 | |||
| Support | S1 | 1.96 | -3.21 % | |
| S2 | 1.93 | -4.38 % | ||
| S3 | 1.89 | -6.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.08 | 2.97 % | |
| R2 | 2.07 | 2.48 % | ||
| R1 | 2.03 | 0.495 % | ||
| Current price | 2.02 | |||
| Support | S1 | 1.98 | -1.98% | |
| S2 | 1.91 | -5.45% | ||
| S3 | 1.81 | -10.40% |
002021 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2013 | Jun 28, 2013 | Jun 28, 2013 | ¥0.0200 | 0.87% |
| 2 | Jun 08, 2012 | Jun 08, 2012 | Jun 08, 2012 | ¥0.0300 | 1.15% |
| 3 | Jun 03, 2008 | Jun 03, 2008 | Jun 03, 2008 | ¥0.0641 | 3.02% |
| 4 | Jun 04, 2007 | Jun 04, 2007 | Jun 04, 2007 | ¥0.0427 | 1.51% |
| 5 | Jun 13, 2006 | Jun 13, 2006 | Jun 13, 2006 | ¥0.0548 | 3.80% |
FAQ
Click here for our free guide on how to buy Zoje Resources Investment Co Ltd Stock.
