Jiajia Food Group Co.,Ltd. Stock Forecast
High volatility in Jiajia Food Group Co.,Ltd. stock price on Thursday which ended trading at ¥2.13
(Updated on Jun 20, 2024)
The Jiajia Food Group Co.,Ltd. stock price gained 4.93% on the last trading day (Thursday, 20th Jun 2024), rising from ¥2.03 to ¥2.13. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 22.40% from a day low at ¥1.83 to a day high of ¥2.24. The price has risen in 6 of the last 10 days and is up by 13.3% 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, 13 million more shares were traded than the day before. In total, 28 million shares were bought and sold for approximately ¥58.89 million.
Given the current short-term trend, the stock is expected to fall -45.30% during the next 3 months and, with a 90% probability hold a price between ¥0.779 and ¥1.17 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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002650.SZ Signals & Forecast
The Jiajia Food Group Co.,Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥1.86 and ¥2.08. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 32.30%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Jiajia Food Group Co.,Ltd. stock
Jiajia Food Group Co.,Ltd. finds support from accumulated volume at ¥2.12 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 ¥0.410 between high and low, or 22.40%. For the last week, the stock has had daily average volatility of 12.13%.
Since the Jiajia Food Group Co.,Ltd. has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: ¥2.05 (-3.86%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (002650.SZ) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Jiajia Food Group Co.,Ltd. to open at ¥2.07, and during the day (based on 14 day Average True Range), to move between ¥1.95 and ¥2.31, which gives a possible trading interval of +/-¥0.180 (+/-8.46%) up or down from last closing price. If Jiajia Food Group Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 16.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥2.12 (0.47%) than the resistance at ¥2.14 (0.47%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Jiajia Food Group Co.,Ltd. stock A Buy?
Jiajia Food Group Co.,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.
Current score: 0.000 Hold/Accumulate Unchanged
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 Jiajia Food Group Co.,Ltd. of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| ¥2.07 ( 2.97%) | ¥2.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002650.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.48 | 16.28% |
| R2 | 2.32 | 8.92% |
| R1 | 2.22 | 4.38% |
| Price | 2.13 | |
| S1 | 1.91 | -10.33% |
| S2 | 1.81 | -14.87% |
| S3 | 1.66 | -22.22% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.66 | 24.88% |
| R2 | 2.24 | 5.16% |
| R1 | 2.14 | 0.469% |
| Price | 2.13 | |
| S1 | 2.12 | -0.469% |
| S2 | 2.04 | -4.23% |
| S3 | 1.69 | -20.66% |
002650 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 11, 2022 | Nov 11, 2022 | Nov 11, 2022 | ¥0.0880 | 2.13% |
| 2 | Jul 09, 2021 | Jul 09, 2021 | Jul 09, 2021 | ¥0.0100 | 0.132% |
| 3 | Jul 09, 2020 | Jul 09, 2020 | Jul 09, 2020 | ¥0.0350 | 0.568% |
| 4 | Jul 10, 2017 | Jul 10, 2017 | Jul 10, 2017 | ¥0.0400 | 0.700% |
| 5 | Jul 13, 2016 | Jul 13, 2016 | Jul 13, 2016 | ¥0.0400 | 0.558% |
FAQ
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