Zhejiang Ming Jewelry Co Ltd Stock Forecast
Zhejiang Ming Jewelry Co Ltd stock price ended at ¥5.25 on Tuesday, after losing 2.78%.
(Updated on Apr 30, 2024)
The Zhejiang Ming Jewelry Co Ltd stock price fell by -2.78% on the last day (Tuesday, 30th Apr 2024) from ¥5.40 to ¥5.25. During the last trading day the stock fluctuated 3.65% from a day low at ¥5.21 to a day high of ¥5.40. The price has fallen in 5 of the last 10 days and is down by -5.23% for this period. 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 -5 million shares and in total, 11 million shares were bought and sold for approximately ¥60.27 million.
The stock has broken the very wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at ¥5.40. A reaction back to this level may hold a second chance to get out before further falls.
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002574.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Zhejiang Ming Jewelry Co 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 ¥5.36 and ¥5.84. 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). 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 Zhejiang Ming Jewelry Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥4.69 and ¥4.17. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Zhejiang Ming Jewelry Co Ltd finds support just below today's level at ¥4.69. If this is broken, then the next support from accumulated volume will be at ¥4.17 and ¥3.99.
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 ¥0.190 between high and low, or 3.65%. For the last week, the stock has had daily average volatility of 5.84%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002574.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Zhejiang Ming Jewelry Co Ltd to open at ¥5.29, and during the day (based on 14 day Average True Range), to move between ¥4.78 and ¥5.72, which gives a possible trading interval of +/-¥0.466 (+/-8.88%) up or down from last closing price. If Zhejiang Ming Jewelry Co Ltd takes out the full calculated possible swing range there will be an estimated 17.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥5.53 (5.33%) than the support at ¥4.69 (10.67%), 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 Zhejiang Ming Jewelry Co Ltd stock A Buy?
The Zhejiang Ming Jewelry Co Ltd stock holds several negative signals and despite the positive trend, we believe Zhejiang Ming Jewelry Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.558 Sell Candidate Unchanged
Predicted Opening Price for Zhejiang Ming Jewelry Co Ltd of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥5.29 ( 0.698%) | ¥5.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002574.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.48 | 4.32 % | |
| R2 | 5.40 | 2.93 % | ||
| R1 | 5.36 | 2.08 % | ||
| Current price: | 5.25 | |||
| Support | S1 | 5.21 | -0.684 % | |
| S2 | 5.17 | -1.54 % | ||
| S3 | 5.10 | -2.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.04 | 15.05 % | |
| R2 | 5.81 | 10.67 % | ||
| R1 | 5.53 | 5.33 % | ||
| Current price | 5.25 | |||
| Support | S1 | 4.69 | -10.67% | |
| S2 | 4.17 | -20.57% | ||
| S3 | 3.99 | -24.00% |
002574 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 11, 2020 | Jun 11, 2020 | Jun 11, 2020 | ¥0.0300 | 0.642% |
| 2 | Jun 17, 2019 | Jun 17, 2019 | Jun 17, 2019 | ¥0.0500 | 0.89% |
| 3 | Jun 07, 2018 | Jun 07, 2018 | Jun 07, 2018 | ¥0.0500 | 0.767% |
| 4 | Jun 09, 2017 | Jun 09, 2017 | Jun 09, 2017 | ¥0.0500 | 0.592% |
| 5 | Jun 17, 2016 | Jun 17, 2016 | Jun 17, 2016 | ¥0.0500 | 0.413% |
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