Jiangsu Gaoke Petrochemical Co., Ltd Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Jiangsu Gaoke Petrochemical Co., Ltd stock price down 1.31% on Friday
(Updated on Jun 28, 2024)
The Jiangsu Gaoke Petrochemical Co., Ltd stock price fell by -1.31% on the last day (Friday, 28th Jun 2024) from ¥10.66 to ¥10.52. During the last trading day the stock fluctuated 3.57% from a day low at ¥10.37 to a day high of ¥10.74. The price has fallen in 5 of the last 10 days and is down by -4.8% 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 -411 thousand shares and in total, 919 thousand shares were bought and sold for approximately ¥9.67 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 -9.15% during the next 3 months and, with a 90% probability hold a price between ¥7.74 and ¥10.64 at the end of this 3-month period.
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002778.SZ Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Jiangsu Gaoke Petrochemical 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 ¥10.72 and ¥11.12. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 10, 2024, and so far it has fallen -15.02%. Further fall is indicated until a new bottom pivot has been found. 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 Jiangsu Gaoke Petrochemical Co., Ltd stock
Jiangsu Gaoke Petrochemical Co., Ltd finds support from accumulated volume at ¥10.47 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 ¥0.370 between high and low, or 3.57%. For the last week, the stock has had daily average volatility of 4.15%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002778.SZ) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Jiangsu Gaoke Petrochemical Co., Ltd to open at ¥10.54, and during the day (based on 14 day Average True Range), to move between ¥9.88 and ¥11.16, which gives a possible trading interval of +/-¥0.641 (+/-6.09%) up or down from last closing price. If Jiangsu Gaoke Petrochemical Co., Ltd takes out the full calculated possible swing range there will be an estimated 12.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥10.47 (0.48%) than the resistance at ¥11.75 (11.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Jiangsu Gaoke Petrochemical Co., Ltd stock A Buy?
Jiangsu Gaoke Petrochemical Co., Ltd holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.416 Sell Candidate Unchanged
Predicted Opening Price for Jiangsu Gaoke Petrochemical Co., Ltd of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ¥10.54 ( 0.222%) | ¥10.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002778.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.91 | 3.74% |
| R2 | 10.77 | 2.40% |
| R1 | 10.68 | 1.57% |
| Price | 10.52 | |
| S1 | 10.40 | -1.12% |
| S2 | 10.31 | -1.95% |
| S3 | 10.17 | -3.30% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.00 | 23.57% |
| R2 | 12.82 | 21.86% |
| R1 | 11.75 | 11.69% |
| Price | 10.52 | |
| S1 | 10.47 | -0.475% |
| S2 | 9.93 | -5.61% |
| S3 | 9.50 | -9.70% |
002778 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 23, 2022 | May 23, 2022 | May 23, 2022 | ¥0.150 | 1.15% |
| 2 | Jun 04, 2021 | Jun 04, 2021 | Jun 04, 2021 | ¥0.0714 | 0.409% |
| 3 | Jun 17, 2020 | Jun 17, 2020 | Jun 17, 2020 | ¥0.0286 | 0.138% |
| 4 | Jun 26, 2019 | Jun 26, 2019 | Jun 26, 2019 | ¥0.0321 | 0.237% |
| 5 | Jun 15, 2018 | Jun 15, 2018 | Jun 15, 2018 | ¥0.0500 | 0.374% |
FAQ
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