Xiamen Jihong Package Technology Ltd Stock Forecast
Xiamen Jihong Package Technology Ltd stock price ended at ¥11.13 on Wednesday, after losing 0.536%.
(Updated on Jul 03, 2024)
The Xiamen Jihong Package Technology Ltd stock price fell by -0.536% on the last day (Wednesday, 3rd Jul 2024) from ¥11.19 to ¥11.13. During the last trading day the stock fluctuated 1.53% from a day low at ¥11.11 to a day high of ¥11.28. The price has fallen in 6 of the last 10 days and is down by -9.51% 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 -244 thousand shares and in total, 4 million shares were bought and sold for approximately ¥44.89 million.
The stock lies in the middle of a 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 -29.75% during the next 3 months and, with a 90% probability hold a price between ¥7.27 and ¥8.53 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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002803.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 1.27%. 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 Xiamen Jihong Package Technology 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 ¥11.16 and ¥12.69. 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 Xiamen Jihong Package Technology Ltd stock
Xiamen Jihong Package Technology Ltd finds support from accumulated volume at ¥11.00 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 ¥0.170 between high and low, or 1.53%. For the last week, the stock has had daily average volatility of 3.26%.
Xiamen Jihong Package Technology Ltd is oversold on RSI14 (19). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002803.SZ) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Xiamen Jihong Package Technology Ltd to open at ¥11.17, and during the day (based on 14 day Average True Range), to move between ¥10.57 and ¥11.69, which gives a possible trading interval of +/-¥0.563 (+/-5.05%) up or down from last closing price. If Xiamen Jihong Package Technology Ltd takes out the full calculated possible swing range there will be an estimated 10.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥11.00 (1.17%) than the resistance at ¥11.31 (1.62%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Xiamen Jihong Package Technology Ltd stock A Buy?
Xiamen Jihong Package Technology Ltd holds several negative signals and is within a 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: -2.424 Sell Candidate Unchanged
Predicted Opening Price for Xiamen Jihong Package Technology Ltd of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| ¥11.17 ( 0.389%) | ¥11.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002803.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.34 | 1.92% |
| R2 | 11.28 | 1.33% |
| R1 | 11.24 | 0.97% |
| Price | 11.13 | |
| S1 | 11.11 | -0.194% |
| S2 | 11.07 | -0.555% |
| S3 | 11.00 | -1.14% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.41 | 20.49% |
| R2 | 12.27 | 10.24% |
| R1 | 11.31 | 1.62% |
| Price | 11.13 | |
| S1 | 11.00 | -1.17% |
| S2 | 10.99 | -1.26% |
| S3 | 0 | - |
002803 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 30, 2024 | Apr 30, 2024 | Apr 30, 2024 | ¥0.360 | 2.38% |
| 2 | Sep 25, 2023 | Sep 25, 2023 | Sep 25, 2023 | ¥0.200 | 1.11% |
| 3 | Mar 10, 2023 | Mar 10, 2023 | Mar 10, 2023 | ¥0.263 | 1.55% |
| 4 | Jul 12, 2021 | Jul 12, 2021 | Jul 12, 2021 | ¥0.100 | 0.392% |
| 5 | Jun 09, 2020 | Jun 09, 2020 | Jun 09, 2020 | ¥0.0588 | 0.232% |
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