Jikai Equipment Manufacturing Co Ltd Stock Forecast
High volatility in Jikai Equipment Manufacturing Co Ltd stock price on Friday which ended trading at ¥5.33
(Updated on Apr 19, 2024)
The Jikai Equipment Manufacturing Co Ltd stock price fell by -5.33% on the last day (Friday, 19th Apr 2024) from ¥5.63 to ¥5.33. During the last trading day the stock fluctuated 28.44% from a day low at ¥5.24 to a day high of ¥6.73. The price has fallen in 6 of the last 10 days and is down by -19.73% 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 -2 million shares and in total, 10 million shares were bought and sold for approximately ¥53.72 million.
The stock lies in the middle of a very wide and strong 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 10.15% during the next 3 months and, with a 90% probability hold a price between ¥5.17 and ¥7.71 at the end of this 3-month period.
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002691.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 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 Jikai Equipment Manufacturing 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 ¥5.87 and ¥6.18. 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 Jikai Equipment Manufacturing Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥4.64 and ¥4.48. 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, Jikai Equipment Manufacturing Co Ltd finds support just below today's level at ¥4.64. If this is broken, then the next support from accumulated volume will be at ¥4.48 and ¥4.18.
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 ¥1.49 between high and low, or 28.44%. For the last week, the stock has had daily average volatility of 26.41%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002691.SZ) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Jikai Equipment Manufacturing Co Ltd to open at ¥5.77, and during the day (based on 14 day Average True Range), to move between ¥4.60 and ¥6.06, which gives a possible trading interval of +/-¥0.733 (+/-13.74%) up or down from last closing price. If Jikai Equipment Manufacturing Co Ltd takes out the full calculated possible swing range there will be an estimated 27.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥5.50 (3.19%) than the support at ¥4.64 (12.95%), 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 Jikai Equipment Manufacturing Co Ltd stock A Buy?
The Jikai Equipment Manufacturing Co Ltd stock holds several negative signals and despite the positive trend, we believe Jikai Equipment Manufacturing Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.569 Sell Candidate Unchanged
Predicted Opening Price for Jikai Equipment Manufacturing Co Ltd of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| ¥5.77 ( 8.19%) | ¥5.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002691.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.26 | 36.15 % | |
| R2 | 6.69 | 25.47 % | ||
| R1 | 6.34 | 18.87 % | ||
| Current price: | 5.33 | |||
| Support | S1 | 5.20 | -2.49 % | |
| S2 | 4.85 | -9.08 % | ||
| S3 | 4.28 | -19.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.40 | 20.08 % | |
| R2 | 6.20 | 16.32 % | ||
| R1 | 5.50 | 3.19 % | ||
| Current price | 5.33 | |||
| Support | S1 | 4.64 | -12.95% | |
| S2 | 4.48 | -15.95% | ||
| S3 | 4.18 | -21.58% |
002691 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 13, 2023 | Jul 13, 2023 | Jul 13, 2023 | ¥0.0070 | 0.113% |
| 2 | Jul 12, 2022 | Jul 12, 2022 | Jul 12, 2022 | ¥0.0080 | 0.153% |
| 3 | Jul 10, 2020 | Jul 10, 2020 | Jul 10, 2020 | ¥0.0070 | 0.132% |
| 4 | Jul 09, 2019 | Jul 09, 2019 | Jul 09, 2019 | ¥0.0070 | 0.106% |
| 5 | Jun 11, 2018 | Jun 11, 2018 | Jun 11, 2018 | ¥0.0059 | 0.0589% |
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