Jiangxi Hengda Hi Tech Co Ltd Stock Forecast
Jiangxi Hengda Hi Tech Co Ltd stock price down 1.77% on Tuesday
(Updated on Apr 30, 2024)
The Jiangxi Hengda Hi Tech Co Ltd stock price fell by -1.77% on the last day (Tuesday, 30th Apr 2024) from ¥4.51 to ¥4.43. During the last trading day the stock fluctuated 7.89% from a day low at ¥4.31 to a day high of ¥4.65. The price has risen in 7 of the last 10 days and is up by 14.18% over the past 2 weeks. Volume has increased on the last day by 2 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, 13 million shares were bought and sold for approximately ¥58.05 million.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.98% during the next 3 months and, with a 90% probability hold a price between ¥3.92 and ¥6.11 at the end of this 3-month period.
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002591.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Jiangxi Hengda Hi Tech Co Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ¥4.85. On a fall, the stock will find some support from the short-term average at ¥4.22. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -20.04%. 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 Jiangxi Hengda Hi Tech Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥4.00 and ¥3.75. 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, Jiangxi Hengda Hi Tech Co Ltd finds support just below today's level at ¥4.00. If this is broken, then the next support from accumulated volume will be at ¥3.75 and ¥3.49.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ¥0.340 between high and low, or 7.89%. For the last week, the stock has had daily average volatility of 6.51%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002591.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Jiangxi Hengda Hi Tech Co Ltd to open at ¥4.46, and during the day (based on 14 day Average True Range), to move between ¥3.98 and ¥4.88, which gives a possible trading interval of +/-¥0.450 (+/-10.16%) up or down from last closing price. If Jiangxi Hengda Hi Tech Co Ltd takes out the full calculated possible swing range there will be an estimated 20.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥4.83 (9.03%) than the support at ¥4.00 (9.71%), 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 Hengda Hi Tech Co Ltd stock A Buy?
The Jiangxi Hengda Hi Tech Co Ltd stock holds several negative signals and despite the positive trend, we believe Jiangxi Hengda Hi Tech Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.221 Sell Candidate Unchanged
Predicted Opening Price for Jiangxi Hengda Hi Tech Co Ltd of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥4.46 ( 0.752%) | ¥4.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002591.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.80 | 8.43 % | |
| R2 | 4.67 | 5.50 % | ||
| R1 | 4.59 | 3.68 % | ||
| Current price: | 4.43 | |||
| Support | S1 | 4.33 | -2.18 % | |
| S2 | 4.25 | -3.99 % | ||
| S3 | 4.12 | -6.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.04 | 13.77 % | |
| R2 | 5.03 | 13.54 % | ||
| R1 | 4.83 | 9.03 % | ||
| Current price | 4.43 | |||
| Support | S1 | 4.00 | -9.71% | |
| S2 | 3.75 | -15.35% | ||
| S3 | 3.49 | -21.22% |
002591 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 21, 2018 | Jun 21, 2018 | Jun 21, 2018 | ¥0.300 | 4.67% |
| 2 | Jul 07, 2015 | Jul 07, 2015 | Jul 07, 2015 | ¥0.0050 | 0.0262% |
| 3 | Jul 28, 2014 | Jul 28, 2014 | Jul 28, 2014 | ¥0.0267 | 0.403% |
| 4 | Jun 18, 2013 | Jun 18, 2013 | Jun 18, 2013 | ¥0.0100 | 0.234% |
| 5 | Jun 18, 2012 | Jun 18, 2012 | Jun 18, 2012 | ¥0.0263 | 0.632% |
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