Jiangsu Jiuding New Material Co., Ltd. Stock Forecast
Red day on Friday for Jiangsu Jiuding New Material Co., Ltd. stock after losing 1.18%
(Updated on May 10, 2024)
The Jiangsu Jiuding New Material Co., Ltd. stock price fell by -1.18% on the last day (Friday, 10th May 2024) from ¥5.91 to ¥5.84. During the last trading day the stock fluctuated 2.41% from a day low at ¥5.81 to a day high of ¥5.95. The price has risen in 7 of the last 10 days and is up by 10.4% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -3 million shares and in total, 7 million shares were bought and sold for approximately ¥38.10 million.
The stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ¥6.09 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Jiangsu Jiuding New Material Co., Ltd. stock with a 90% probability to be traded between ¥4.84 and ¥6.14 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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002201.SZ Signals & Forecast
The Jiangsu Jiuding New Material Co., Ltd. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ¥5.84. On a fall, the stock will find some support from the long-term average at approximately ¥5.67. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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, May 07, 2024, and so far it has fallen -1.68%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Jiangsu Jiuding New Material Co., Ltd. stock
Jiangsu Jiuding New Material Co., Ltd. finds support from accumulated volume at ¥5.70 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 ¥0.140 between high and low, or 2.41%. For the last week, the stock has had daily average volatility of 2.55%.
Our recommended stop-loss: ¥5.60 (-4.17%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (002201.SZ) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Jiangsu Jiuding New Material Co., Ltd. to open at ¥5.87, and during the day (based on 14 day Average True Range), to move between ¥5.52 and ¥6.16, which gives a possible trading interval of +/-¥0.320 (+/-5.48%) up or down from last closing price. If Jiangsu Jiuding New Material Co., Ltd. takes out the full calculated possible swing range there will be an estimated 10.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥5.86 (0.34%) than the support at ¥5.70 (2.40%), 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 Jiangsu Jiuding New Material Co., Ltd. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Jiangsu Jiuding New Material Co., Ltd. stock to perform well in the short-term period.
Current score: 2.863 Buy Candidate Unchanged
Predicted Opening Price for Jiangsu Jiuding New Material Co., Ltd. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ¥5.87 ( 0.457%) | ¥5.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002201.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.01 | 2.85 % | |
| R2 | 5.95 | 1.94 % | ||
| R1 | 5.92 | 1.37 % | ||
| Current price: | 5.84 | |||
| Support | S1 | 5.81 | -0.459 % | |
| S2 | 5.78 | -1.02 % | ||
| S3 | 5.73 | -1.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.05 | 3.60 % | |
| R2 | 5.94 | 1.71 % | ||
| R1 | 5.86 | 0.342 % | ||
| Current price | 5.84 | |||
| Support | S1 | 5.70 | -2.40% | |
| S2 | 5.35 | -8.39% | ||
| S3 | 5.27 | -9.76% |
002201 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 26, 2023 | Jun 26, 2023 | Jun 26, 2023 | ¥0.0050 | 0.0536% |
| 2 | Jul 06, 2022 | Jul 06, 2022 | Jul 06, 2022 | ¥0.0170 | 0.0968% |
| 3 | Jun 16, 2021 | Jun 16, 2021 | Jun 16, 2021 | ¥0.0056 | 0.0550% |
| 4 | Jul 03, 2020 | Jul 03, 2020 | Jul 03, 2020 | ¥0.0077 | 0.104% |
| 5 | Jul 12, 2016 | Jul 12, 2016 | Jul 12, 2016 | ¥0.0047 | 0.0829% |
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