Fujian Jinsen Forestry Co Ltd Stock Forecast
Fujian Jinsen Forestry Co Ltd stock downgraded to Sell Candidate
(Updated on May 24, 2024)
The Fujian Jinsen Forestry Co Ltd stock price gained 1.67% on the last trading day (Friday, 24th May 2024), rising from ¥8.37 to ¥8.51. During the last trading day the stock fluctuated 3.25% from a day low at ¥8.30 to a day high of ¥8.57. The price has risen in 6 of the last 10 days and is up by 0.12% 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, 470 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately ¥26.00 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -9.25% during the next 3 months and, with a 90% probability hold a price between ¥6.59 and ¥8.77 at the end of this 3-month period.
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002679.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 11.83%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Fujian Jinsen Forestry Co Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ¥8.59 and ¥8.57. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Fujian Jinsen Forestry Co Ltd stock
Fujian Jinsen Forestry Co Ltd finds support from accumulated volume at ¥8.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ¥0.270 between high and low, or 3.25%. For the last week, the stock has had daily average volatility of 2.46%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002679.SZ) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Fujian Jinsen Forestry Co Ltd to open at ¥8.46, and during the day (based on 14 day Average True Range), to move between ¥8.08 and ¥8.94, which gives a possible trading interval of +/-¥0.430 (+/-5.05%) up or down from last closing price. If Fujian Jinsen Forestry Co Ltd takes out the full calculated possible swing range there will be an estimated 10.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥8.50 (0.12%) than the resistance at ¥8.66 (1.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Fujian Jinsen Forestry Co Ltd stock A Buy?
Fujian Jinsen Forestry Co Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.631 Sell Candidate Downgraded
Predicted Opening Price for Fujian Jinsen Forestry Co Ltd of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| ¥8.46 ( 0.588%) | ¥8.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002679.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.73 | 2.59 % | |
| R2 | 8.63 | 1.37 % | ||
| R1 | 8.56 | 0.624 % | ||
| Current price: | 8.51 | |||
| Support | S1 | 8.36 | -1.80 % | |
| S2 | 8.29 | -2.55 % | ||
| S3 | 8.19 | -3.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.99 | 17.39 % | |
| R2 | 9.49 | 11.52 % | ||
| R1 | 8.66 | 1.76 % | ||
| Current price | 8.51 | |||
| Support | S1 | 8.50 | -0.118% | |
| S2 | 7.90 | -7.17% | ||
| S3 | 7.69 | -9.64% |
002679 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 08, 2023 | Jun 08, 2023 | Jun 08, 2023 | ¥0.0430 | 0.335% |
| 2 | Jun 10, 2022 | Jun 10, 2022 | Jun 10, 2022 | ¥0.0350 | 0.309% |
| 3 | Jun 11, 2021 | Jun 11, 2021 | Jun 11, 2021 | ¥0.0300 | 0.147% |
| 4 | Jul 17, 2020 | Jul 17, 2020 | Jul 17, 2020 | ¥0.0200 | 0.172% |
| 5 | Jul 19, 2019 | Jul 19, 2019 | Jul 19, 2019 | ¥0.0550 | 0.349% |
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