Zhejiang Jinfei Kaida Wheel Co Ltd Stock Forecast
Green day on Tuesday for Zhejiang Jinfei Kaida Wheel Co Ltd stock after gaining 3.41%
(Updated on Jun 18, 2024)
The Zhejiang Jinfei Kaida Wheel Co Ltd stock price gained 3.41% on the last trading day (Tuesday, 18th Jun 2024), rising from ¥4.10 to ¥4.24. During the last trading day the stock fluctuated 4.42% from a day low at ¥4.07 to a day high of ¥4.25. The price has fallen in 5 of the last 10 days and is down by -2.3% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 million more shares were traded than the day before. In total, 10 million shares were bought and sold for approximately ¥42.10 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ¥4.39 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -12.17% during the next 3 months and, with a 90% probability hold a price between ¥3.08 and ¥3.85 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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002863.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 8.16%. Further rise is indicated until a new top pivot has been found. 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 Zhejiang Jinfei Kaida Wheel Co Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ¥4.41. On a fall, the stock will find some support from the short-term average at ¥4.14. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A buy signal from a double bottom formation was found on Thursday, June 06, 2024 and based on theory for this formation the price should go up by 16.90% to ¥4.96 within 33 trading days since signal was issued (Thursday, June 20, 2024).
Support, Risk & Stop-loss for Zhejiang Jinfei Kaida Wheel Co Ltd stock
Zhejiang Jinfei Kaida Wheel Co Ltd finds support from accumulated volume at ¥4.22 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 ¥0.180 between high and low, or 4.42%. For the last week, the stock has had daily average volatility of 5.00%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002863.SZ) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Zhejiang Jinfei Kaida Wheel Co Ltd to open at ¥4.19, and during the day (based on 14 day Average True Range), to move between ¥4.00 and ¥4.48, which gives a possible trading interval of +/-¥0.235 (+/-5.55%) up or down from last closing price. If Zhejiang Jinfei Kaida Wheel Co Ltd takes out the full calculated possible swing range there will be an estimated 11.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥4.22 (0.47%) than the resistance at ¥4.37 (3.07%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Zhejiang Jinfei Kaida Wheel Co Ltd stock A Buy?
Zhejiang Jinfei Kaida Wheel 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.
Current score: -1.490 Sell Candidate Unchanged
Predicted Opening Price for Zhejiang Jinfei Kaida Wheel Co Ltd of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| ¥4.19 ( 1.26%) | ¥4.24 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002863.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.37 | 2.99% |
| R2 | 4.30 | 1.37% |
| R1 | 4.26 | 0.364% |
| Price | 4.24 | |
| S1 | 4.12 | -2.88% |
| S2 | 4.08 | -3.88% |
| S3 | 4.01 | -5.50% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.82 | 13.68% |
| R2 | 4.48 | 5.66% |
| R1 | 4.37 | 3.07% |
| Price | 4.24 | |
| S1 | 4.22 | -0.472% |
| S2 | 4.11 | -3.07% |
| S3 | 3.93 | -7.31% |
002863 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 07, 2023 | Jul 07, 2023 | Jul 07, 2023 | ¥0.0100 | 0.159% |
| 2 | Jun 20, 2022 | Jun 20, 2022 | Jun 20, 2022 | ¥0.0150 | 0.277% |
| 3 | Jul 05, 2021 | Jul 05, 2021 | Jul 05, 2021 | ¥0.0130 | 0.261% |
| 4 | Apr 29, 2020 | Apr 29, 2020 | Apr 29, 2020 | ¥0.0160 | 0.350% |
| 5 | May 23, 2019 | May 23, 2019 | May 23, 2019 | ¥0.0180 | 0.301% |
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