Jiangxi Special Electric Motor Co Ltd Stock Forecast
Green day on Thursday for Jiangxi Special Electric Motor Co Ltd
(Updated on Mar 28, 2024)
The Jiangxi Special Electric Motor Co Ltd stock price gained 1.51% on the last trading day (Thursday, 28th Mar 2024), rising from ¥9.29 to ¥9.43. During the last trading day the stock fluctuated 5.31% from a day low at ¥9.22 to a day high of ¥9.71. The price has been going up and down for this period, and there has been a -8.18% loss for the last 2 weeks. Volume fell on the last day by -9 million shares and in total, 28 million shares were bought and sold for approximately ¥260.54 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 very 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 -23.17% during the next 3 months and, with a 90% probability hold a price between ¥4.68 and ¥8.29 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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002176.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, February 05, 2024, and so far it has risen 18.32%. Further rise is indicated until a new top pivot has been found. 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 Special Electric Motor 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 ¥9.88 and ¥9.85. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Jiangxi Special Electric Motor Co Ltd stock
Jiangxi Special Electric Motor Co Ltd finds support from accumulated volume at ¥9.04 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 ¥0.490 between high and low, or 5.31%. For the last week, the stock has had daily average volatility of 4.86%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002176.SZ) For The Upcoming Trading Day Of Friday 29th
For the upcoming trading day on Friday, 29th we expect Jiangxi Special Electric Motor Co Ltd to open at ¥9.45, and during the day (based on 14 day Average True Range), to move between ¥9.00 and ¥9.86, which gives a possible trading interval of +/-¥0.426 (+/-4.52%) up or down from last closing price. If Jiangxi Special Electric Motor Co Ltd takes out the full calculated possible swing range there will be an estimated 9.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥9.81 (4.03%) than the support at ¥9.04 (4.14%), 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 Jiangxi Special Electric Motor Co Ltd stock A Buy?
Jiangxi Special Electric Motor Co Ltd holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.564 Sell Candidate Unchanged
Predicted Opening Price for Jiangxi Special Electric Motor Co Ltd of Friday, March 29, 2024
Fair opening price March 29, 2024 | Current price |
---|---|
¥9.45 ( 0.247%) | ¥9.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002176.SZ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 9.94 | 5.44 % | |
R2 | 9.76 | 3.46 % | ||
R1 | 9.64 | 2.23 % | ||
Current price: | 9.43 | |||
Support | S1 | 9.27 | -1.74 % | |
S2 | 9.15 | -2.96 % | ||
S3 | 8.96 | -4.95 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.85 | 15.06 % | |
R2 | 10.50 | 11.35 % | ||
R1 | 9.81 | 4.03 % | ||
Current price | 9.43 | |||
Support | S1 | 9.04 | -4.14% | |
S2 | 8.97 | -4.88% | ||
S3 | 7.97 | -15.48% |
002176 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 25, 2018 | May 25, 2018 | May 25, 2018 | ¥0.0200 | 0.190% |
2 | Jun 27, 2017 | Jun 27, 2017 | Jun 27, 2017 | ¥0.0140 | 0.157% |
3 | Sep 25, 2015 | Sep 25, 2015 | Sep 25, 2015 | ¥0.0045 | 0.0179% |
4 | May 20, 2015 | May 20, 2015 | May 20, 2015 | ¥0.0045 | 0.0412% |
5 | May 12, 2014 | May 12, 2014 | May 12, 2014 | ¥0.0065 | 0.133% |
FAQ
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