Jiamei Food Packaging (chuzhou) Co.,ltd Stock Forecast
Red day on Thursday for Jiamei Food Packaging (chuzhou) Co.,ltd stock after losing 1.39%
(Updated on Jun 27, 2024)
The Jiamei Food Packaging (chuzhou) Co.,ltd stock price fell by -1.39% on the last day (Thursday, 27th Jun 2024) from ¥2.87 to ¥2.83. During the last trading day the stock fluctuated 2.48% from a day low at ¥2.82 to a day high of ¥2.89. The price has been going up and down for this period, and there has been a -5.67% loss for the last 2 weeks. 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, 9 million shares were bought and sold for approximately ¥24.35 million.
The stock lies the upper part of a 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 ¥2.85 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 -17.02% during the next 3 months and, with a 90% probability hold a price between ¥2.22 and ¥2.37 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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002969.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 2.91%. 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 Jiamei Food Packaging (chuzhou) 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 ¥2.86 and ¥3.04. 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 Jiamei Food Packaging (chuzhou) Co.,ltd stock
Jiamei Food Packaging (chuzhou) Co.,ltd finds support from accumulated volume at ¥2.78 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 ¥0.0700 between high and low, or 2.48%. For the last week, the stock has had daily average volatility of 4.64%.
Our recommended stop-loss: ¥2.67 (-5.52%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (002969.SZ) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Jiamei Food Packaging (chuzhou) Co.,ltd to open at ¥2.85, and during the day (based on 14 day Average True Range), to move between ¥2.69 and ¥2.97, which gives a possible trading interval of +/-¥0.136 (+/-4.79%) up or down from last closing price. If Jiamei Food Packaging (chuzhou) Co.,ltd takes out the full calculated possible swing range there will be an estimated 9.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥2.78 (1.77%) than the resistance at ¥2.90 (2.47%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Jiamei Food Packaging (chuzhou) Co.,ltd stock A Buy?
Jiamei Food Packaging (chuzhou) Co.,ltd holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.470 Hold/Accumulate Unchanged
Predicted Opening Price for Jiamei Food Packaging (chuzhou) Co.,ltd of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| ¥2.85 ( 0.589%) | ¥2.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002969.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.92 | 3.06% |
| R2 | 2.89 | 2.12% |
| R1 | 2.87 | 1.53% |
| Price | 2.83 | |
| S1 | 2.82 | -0.356% |
| S2 | 2.80 | -0.94% |
| S3 | 2.78 | -1.88% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.07 | 8.48% |
| R2 | 3.00 | 6.01% |
| R1 | 2.90 | 2.47% |
| Price | 2.83 | |
| S1 | 2.78 | -1.77% |
| S2 | 2.75 | -2.83% |
| S3 | 0 | - |
002969 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 28, 2024 | May 28, 2024 | May 28, 2024 | ¥0.0300 | 0.90% |
| 2 | Jan 24, 2024 | Jan 24, 2024 | Jan 24, 2024 | ¥0.230 | 5.56% |
| 3 | Jun 08, 2023 | Jun 08, 2023 | Jun 08, 2023 | ¥0.0110 | 0.277% |
| 4 | May 30, 2022 | May 30, 2022 | May 30, 2022 | ¥0.0110 | 0.272% |
| 5 | May 31, 2021 | May 31, 2021 | May 31, 2021 | ¥0.0100 | 0.189% |
FAQ
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