Joyoung Co., Ltd Stock Forecast
Evaluation of Joyoung Co., Ltd stock downgraded after the last trading session.
(Updated on Apr 30, 2024)
The Joyoung Co., Ltd stock price fell by -1.28% on the last day (Tuesday, 30th Apr 2024) from ¥11.75 to ¥11.60. During the last trading day the stock fluctuated 4.29% from a day low at ¥11.43 to a day high of ¥11.92. The price has fallen in 6 of the last 10 days but is still up by 7.51% over the past 2 weeks. Volume has increased on the last day by 1 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 12 million shares were bought and sold for approximately ¥139.43 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Joyoung Co., Ltd stock with a 90% probability to be traded between ¥10.06 and ¥12.50 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
002242.SZ Signals & Forecast
The Joyoung 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 ¥11.59 and ¥11.18. 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). 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 Thursday, April 18, 2024, and so far it has fallen -5.77%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Joyoung Co., Ltd stock
Joyoung Co., Ltd finds support from accumulated volume at ¥11.58 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 4.29%. For the last week, the stock has had daily average volatility of 4.40%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002242.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Joyoung Co., Ltd to open at ¥11.65, and during the day (based on 14 day Average True Range), to move between ¥11.03 and ¥12.17, which gives a possible trading interval of +/-¥0.571 (+/-4.92%) up or down from last closing price. If Joyoung Co., Ltd takes out the full calculated possible swing range there will be an estimated 9.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥11.58 (0.17%) than the resistance at ¥11.75 (1.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Joyoung Co., Ltd stock A Buy?
Joyoung Co., Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Sell candidate.
Current score: -1.282 Sell Candidate Downgraded
Predicted Opening Price for Joyoung Co., Ltd of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥11.65 ( 0.431%) | ¥11.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002242.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.14 | 4.66 % | |
| R2 | 11.95 | 3.04 % | ||
| R1 | 11.84 | 2.04 % | ||
| Current price: | 11.60 | |||
| Support | S1 | 11.46 | -1.18 % | |
| S2 | 11.35 | -2.18 % | ||
| S3 | 11.16 | -3.79 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.31 | 6.12 % | |
| R2 | 11.79 | 1.64 % | ||
| R1 | 11.75 | 1.29 % | ||
| Current price | 11.60 | |||
| Support | S1 | 11.58 | -0.172% | |
| S2 | 11.57 | -0.259% | ||
| S3 | 11.30 | -2.59% |
002242 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2023 | May 30, 2023 | May 30, 2023 | ¥0.300 | 2.04% |
| 2 | Nov 18, 2022 | Nov 18, 2022 | Nov 18, 2022 | ¥0.500 | 3.27% |
| 3 | May 10, 2022 | May 10, 2022 | May 10, 2022 | ¥1.00 | 6.68% |
| 4 | Jul 13, 2021 | Jul 13, 2021 | Jul 13, 2021 | ¥1.00 | 3.44% |
| 5 | May 29, 2020 | May 29, 2020 | May 29, 2020 | ¥0.580 | 1.79% |
FAQ
Click here for our free guide on how to buy Joyoung Co., Ltd Stock.
