China Jinmao Holdings Group Limited Stock Forecast

High volatility in China Jinmao Holdings Group Limited stock price on Friday which ended trading at HK$0.620
(Updated on Apr 26, 2024)

0817.HK Signals & Forecast

The China Jinmao Holdings Group Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$0.570 and HK$0.570. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 05, 2024, and so far it has risen 27.84%. Further rise is indicated until a new top pivot has been found. 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.

Support, Risk & Stop-loss for China Jinmao Holdings Group Limited stock

China Jinmao Holdings Group Limited finds support from accumulated volume at HK$0.600 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 HK$0.0600 between high and low, or 10.53%. For the last week, the stock has had daily average volatility of 5.73%.

The China Jinmao Holdings Group Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: HK$0.599 (-3.40%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 80 and this increases the risk substantially. There is a buy signal from a pivot bottom found 15 days ago.)

Trading Expectations (0817.HK) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect China Jinmao Holdings Group Limited to open at HK$0.607, and during the day (based on 14 day Average True Range), to move between HK$0.586 and HK$0.654, which gives a possible trading interval of +/-HK$0.0345 (+/-5.56%) up or down from last closing price. If China Jinmao Holdings Group Limited 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 resistance from accumulated volume at HK$0.640 (3.23%) than the support at HK$0.600 (3.23%), 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 China Jinmao Holdings Group Limited stock A Buy?

China Jinmao Holdings Group Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for China Jinmao Holdings Group Limited of Monday, April 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.