China Jinmao Holdings Group Limited Stock Forecast

Big movements in China Jinmao Holdings Group Limited stock price on Friday moving 13.43% between high and low
(Updated on May 10, 2024)

0817.HK Signals & Forecast

Mostly positive signals in the chart today. 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$0.691 and HK$0.588. 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 54.64%. 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

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.680 and HK$0.620. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, China Jinmao Holdings Group Limited finds support just below today's level at HK$0.680. If this is broken, then the next support from accumulated volume will be at HK$0.620 and HK$0.590.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved HK$0.0900 between high and low, or 13.43%. For the last week, the stock has had daily average volatility of 8.79%.

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$0.724 (-3.46%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 24 days ago.)

Trading Expectations (0817.HK) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect China Jinmao Holdings Group Limited to open at HK$0.727, and during the day (based on 14 day Average True Range), to move between HK$0.703 and HK$0.797, which gives a possible trading interval of +/-HK$0.0466 (+/-6.22%) 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 12.44% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ HK$0.680, some HK$0.0700 (9.33%) from the current price of HK$0.750, our system finds the risk reward attractive.

Is China Jinmao Holdings Group Limited stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 4.912 Buy Candidate Upgraded

Predicted Opening Price for China Jinmao Holdings Group Limited of Monday, May 13, 2024

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