Guangzhou Jointas Chemical Co Ltd Stock Forecast
Guangzhou Jointas Chemical Co Ltd stock price up 1.87% on Friday
(Updated on May 17, 2024)
The Guangzhou Jointas Chemical Co Ltd stock price gained 1.87% on the last trading day (Friday, 17th May 2024), rising from ¥5.36 to ¥5.46. During the last trading day the stock fluctuated 3.94% from a day low at ¥5.33 to a day high of ¥5.54. The price has been going up and down for this period, and there has been a 4.8% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 280 thousand more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately ¥26.16 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 -3.47% during the next 3 months and, with a 90% probability hold a price between ¥4.55 and ¥5.85 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
002909.SZ Signals & Forecast
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 Guangzhou Jointas Chemical 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 ¥5.49. On a fall, the stock will find some support from the short-term average at ¥5.37. 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. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -1.97%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Guangzhou Jointas Chemical Co Ltd stock
Guangzhou Jointas Chemical Co Ltd finds support from accumulated volume at ¥5.32 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 ¥0.210 between high and low, or 3.94%. For the last week, the stock has had daily average volatility of 5.62%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002909.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Guangzhou Jointas Chemical Co Ltd to open at ¥5.44, and during the day (based on 14 day Average True Range), to move between ¥5.14 and ¥5.78, which gives a possible trading interval of +/-¥0.324 (+/-5.93%) up or down from last closing price. If Guangzhou Jointas Chemical Co Ltd takes out the full calculated possible swing range there will be an estimated 11.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥5.56 (1.83%) than the support at ¥5.32 (2.56%), 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 Guangzhou Jointas Chemical Co Ltd stock A Buy?
Guangzhou Jointas Chemical 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: -3.010 Sell Candidate Unchanged
Predicted Opening Price for Guangzhou Jointas Chemical Co Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥5.44 ( 0.305%) | ¥5.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002909.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.65 | 3.54 % | |
| R2 | 5.57 | 2.07 % | ||
| R1 | 5.52 | 1.16 % | ||
| Current price: | 5.46 | |||
| Support | S1 | 5.36 | -1.77 % | |
| S2 | 5.31 | -2.68 % | ||
| S3 | 5.23 | -4.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.83 | 6.78 % | |
| R2 | 5.76 | 5.49 % | ||
| R1 | 5.56 | 1.83 % | ||
| Current price | 5.46 | |||
| Support | S1 | 5.32 | -2.56% | |
| S2 | 5.08 | -6.96% | ||
| S3 | 4.90 | -10.26% |
002909 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 13, 2023 | Jun 13, 2023 | Jun 13, 2023 | ¥0.0500 | 0.661% |
| 2 | May 16, 2022 | May 16, 2022 | May 16, 2022 | ¥0.0500 | 0.86% |
| 3 | Jul 19, 2021 | Jul 19, 2021 | Jul 19, 2021 | ¥0.107 | 1.66% |
| 4 | Jun 05, 2020 | Jun 05, 2020 | Jun 05, 2020 | ¥0.153 | 2.69% |
| 5 | Jun 26, 2019 | Jun 26, 2019 | Jun 26, 2019 | ¥0.0765 | 1.52% |
FAQ
Click here for our free guide on how to buy Guangzhou Jointas Chemical Co Ltd Stock.
