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AI Analysis of 002608.SZ
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Jiangsu Guoxin Corp Ltd stock downgraded from Buy Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Mar 28, 2024)

Buy or Hold candidate since Feb 07, 2024 Gain 10.40% PDF

The Jiangsu Guoxin Corp Ltd stock price gained 3.61% on the last trading day (Thursday, 28th Mar 2024), rising from ¥7.48 to ¥7.75. During the last trading day the stock fluctuated 6.68% from a day low at ¥7.33 to a day high of ¥7.82. The price has risen in 5 of the last 10 days and is up by 5.87% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 million more shares were traded than the day before. In total, 24 million shares were bought and sold for approximately ¥184.72 million.

The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ¥7.70, a level that may pose a second chance to hit a runner. According to fan-theory ¥8.51 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

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002608.SZ Signals & Forecast

The Jiangsu Guoxin Corp 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 ¥7.43 and ¥7.28. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, February 05, 2024, and so far it has risen 21.09%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Sell
Special Signal Notification

Double Top Formation

Double Top Formation

Support, Risk & Stop-loss for Jiangsu Guoxin Corp Ltd stock

Jiangsu Guoxin Corp Ltd finds support from accumulated volume at ¥7.48 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ¥0.490 between high and low, or 6.68%. For the last week the stock has had daily average volatility of 3.67%.

Our recommended stop-loss: ¥7.45 (-3.88%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 34 days ago.)

Trading Expectations (002608.SZ) For The Upcoming Trading Day Of Friday 29th

For the upcoming trading day on Friday, 29th we expect Jiangsu Guoxin Corp Ltd to open at ¥7.63, and during the day (based on 14 day Average True Range), to move between ¥7.52 and ¥7.98, which gives a possible trading interval of +/-¥0.235 (+/-3.03%) up or down from last closing price. If Jiangsu Guoxin Corp Ltd takes out the full calculated possible swing range there will be an estimated 6.06% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ ¥7.48, some ¥0.270 (3.48%) from the current price of ¥7.75, our system finds the risk reward attractive.

Is Jiangsu Guoxin Corp Ltd stock A Buy?

Jiangsu Guoxin Corp Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Jiangsu Guoxin Corp Ltd of Friday, March 29, 2024

Fair opening price March 29, 2024 Current price
¥7.63 ( 1.51%) ¥7.75

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for 002608.SZ

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 8.12 4.82 %
R2 7.94 2.40 %
R1 7.82 0.91 %
Current price: 7.75
Support S1 7.45 -3.92 %
S2 7.33 -5.41 %
S3 7.14 -7.83 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 0 .
Current price 7.75
Support S1 7.48 -3.48%
S2 7.32 -5.55%
S3 7.01 -9.55%

002608 Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Jul 13, 2023 Jul 13, 2023 Jul 13, 2023 ¥0.100 1.34%
2 Jun 30, 2021 Jun 30, 2021 Jun 30, 2021 ¥0.200 3.13%
3 Jul 14, 2014 Jul 14, 2014 Jul 14, 2014 ¥0.0246 0.637%
4 Jul 15, 2013 Jul 15, 2013 Jul 15, 2013 ¥0.0246 0.754%
5 Jul 04, 2012 Jul 04, 2012 Jul 04, 2012 ¥0.0246 0.790%

FAQ

What is the symbol for Jiangsu Guoxin Corp Ltd Stock and on which exchange is it traded?
The symbol for Jiangsu Guoxin Corp Ltd is 002608.SZ and it is traded on the SZCE (Shenzhen Stock Exchange).

Should I buy or sell Jiangsu Guoxin Corp Ltd Stock?
Jiangsu Guoxin Corp Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

How to buy Jiangsu Guoxin Corp Ltd Stock?
Jiangsu Guoxin Corp Ltd Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Jiangsu Guoxin Corp Ltd Stock.

What's the current price of Jiangsu Guoxin Corp Ltd Stock?
As of the end of day on the 2024-03-28, the price of an Jiangsu Guoxin Corp Ltd (002608.SZ) share was ¥7.75.

What is the 52-week high and low for Jiangsu Guoxin Corp Ltd Stock?
The 52-week high for Jiangsu Guoxin Corp Ltd Stock is ¥7.82 and the 52-week low is ¥6.08.

What is the market capitalization of Jiangsu Guoxin Corp Ltd Stock?
As of the 2024-03-28, the market capitalization of Jiangsu Guoxin Corp Ltd is 29.28B.
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About Jiangsu Guoxin Corp Ltd

Jiangsu Guoxin Corp. Ltd. provides thermal power and fiduciary services in China. The company engages in the electricity and thermal production, and relevant electricity services. It also provides financial trust services. The company was formerly known as Sainty Marine Corporation Ltd. and changed its name to Jiangsu Guoxin Corp. Ltd. in March 2017. Jiangsu Guoxin Corp. Ltd. was founded in 2003 and is based in Nanjing, China.... 002608.SZ Profile

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