Jiangxi Black Cat Carbon Black Co., Ltd. Stock Forecast

Green day on Wednesday for Jiangxi Black Cat Carbon Black Co., Ltd.
(Updated on Apr 24, 2024)

002068.SZ Signals & Forecast

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. The Jiangxi Black Cat Carbon Black 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 ¥9.21. On a fall, the stock will find some support from the short-term average at ¥8.44. 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, March 11, 2024, and so far it has fallen -13.36%. 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).

Support, Risk & Stop-loss for Jiangxi Black Cat Carbon Black Co., Ltd. stock

Jiangxi Black Cat Carbon Black Co., Ltd. finds support from accumulated volume at ¥8.55 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 ¥0.230 between high and low, or 2.76%. For the last week, the stock has had daily average volatility of 6.99%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (002068.SZ) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Jiangxi Black Cat Carbon Black Co., Ltd. to open at ¥8.48, and during the day (based on 14 day Average True Range), to move between ¥7.99 and ¥9.13, which gives a possible trading interval of +/-¥0.567 (+/-6.62%) up or down from last closing price. If Jiangxi Black Cat Carbon Black Co., Ltd. takes out the full calculated possible swing range there will be an estimated 13.25% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥8.55 (0.12%) than the resistance at ¥8.91 (4.09%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Jiangxi Black Cat Carbon Black Co., Ltd. stock A Buy?

The Jiangxi Black Cat Carbon Black Co., Ltd. stock holds several negative signals and despite the positive trend, we believe Jiangxi Black Cat Carbon Black Co., Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -4.259 Sell Candidate Unchanged

Predicted Opening Price for Jiangxi Black Cat Carbon Black Co., Ltd. of Thursday, April 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.