ZheJiang Jiaxin Silk Corporation,Ltd. Stock Forecast
ZheJiang Jiaxin Silk Corporation,Ltd. stock price down 3.22% on Monday
(Updated on Jun 17, 2024)
The ZheJiang Jiaxin Silk Corporation,Ltd. stock price fell by -3.22% on the last day (Monday, 17th Jun 2024) from ¥5.59 to ¥5.41. During the last trading day the stock fluctuated 3.92% from a day low at ¥5.36 to a day high of ¥5.57. The price has fallen in 7 of the last 10 days and is down by -11.17% for this period. Volume has increased on the last day by 5 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, 11 million shares were bought and sold for approximately ¥57.39 million.
Given the current short-term trend, the stock is expected to rise 12.07% during the next 3 months and, with a 90% probability hold a price between ¥6.06 and ¥8.06 at the end of this 3-month period.
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002404.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The ZheJiang Jiaxin Silk Corporation,Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ¥5.61 and ¥6.04. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -22.49%. 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). 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 ZheJiang Jiaxin Silk Corporation,Ltd. stock
ZheJiang Jiaxin Silk Corporation,Ltd. finds support from accumulated volume at ¥5.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ¥0.210 between high and low, or 3.92%. For the last week, the stock has had daily average volatility of 3.24%.
ZheJiang Jiaxin Silk Corporation,Ltd. is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002404.SZ) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect ZheJiang Jiaxin Silk Corporation,Ltd. to open at ¥5.45, and during the day (based on 14 day Average True Range), to move between ¥5.06 and ¥5.76, which gives a possible trading interval of +/-¥0.349 (+/-6.45%) up or down from last closing price. If ZheJiang Jiaxin Silk Corporation,Ltd. takes out the full calculated possible swing range there will be an estimated 12.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥5.40 (0.18%) than the resistance at ¥6.56 (21.26%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ZheJiang Jiaxin Silk Corporation,Ltd. stock A Buy?
The ZheJiang Jiaxin Silk Corporation,Ltd. stock holds several negative signals and despite the positive trend, we believe ZheJiang Jiaxin Silk Corporation,Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.669 Sell Candidate Unchanged
Predicted Opening Price for ZheJiang Jiaxin Silk Corporation,Ltd. of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ¥5.45 ( 0.678%) | ¥5.41 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002404.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.66 | 4.56% |
| R2 | 5.58 | 3.08% |
| R1 | 5.53 | 2.16% |
| Price | 5.41 | |
| S1 | 5.37 | -0.81% |
| S2 | 5.32 | -1.72% |
| S3 | 5.24 | -3.20% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.62 | 22.37% |
| R2 | 6.58 | 21.63% |
| R1 | 6.56 | 21.26% |
| Price | 5.41 | |
| S1 | 5.40 | -0.185% |
| S2 | 5.38 | -0.555% |
| S3 | 5.34 | -1.29% |
002404 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 15, 2024 | May 15, 2024 | May 15, 2024 | ¥0.300 | 4.56% |
| 2 | Apr 28, 2023 | Apr 28, 2023 | Apr 28, 2023 | ¥0.250 | 4.00% |
| 3 | May 05, 2022 | May 05, 2022 | May 05, 2022 | ¥0.200 | 3.88% |
| 4 | Apr 29, 2021 | Apr 29, 2021 | Apr 29, 2021 | ¥0.200 | 2.93% |
| 5 | May 15, 2020 | May 15, 2020 | May 15, 2020 | ¥0.200 | 3.60% |
FAQ
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