Jiangxi Bank Co., Ltd. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Jiangxi Bank Co., Ltd. stock downgraded to Sell Candidate
(Updated on Jul 02, 2024)
No changes to the price of Jiangxi Bank Co., Ltd. stock on the last trading day (Tuesday, 2nd Jul 2024). During the last trading day the stock fluctuated 0% from a day low at HK$0.750 to a day high of HK$0.750. The price has been going up and down for this period, and there has been a 2.74% gain for the last 2 weeks.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Jiangxi Bank Co., Ltd. stock with a 90% probability to be traded between HK$0.716 and HK$0.86 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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1916.HK Signals & Forecast
There are few to no technical positive signals at the moment. The Jiangxi Bank 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 HK$0.753 and HK$0.776. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 28, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Jiangxi Bank Co., Ltd. stock
Jiangxi Bank Co., Ltd. finds support from accumulated volume at HK$0.740 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved HK$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.83%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1916.HK) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Jiangxi Bank Co., Ltd. to open at HK$0.750, and during the day (based on 14 day Average True Range), to move between HK$0.730 and HK$0.770, which gives a possible trading interval of +/-HK$0.0200 (+/-2.66%) up or down from last closing price. If Jiangxi Bank Co., Ltd. takes out the full calculated possible swing range there will be an estimated 5.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$0.740 (1.33%) than the resistance at HK$0.780 (4.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Jiangxi Bank Co., Ltd. stock A Buy?
Jiangxi Bank Co., Ltd. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.205 Sell Candidate Downgraded
Predicted Opening Price for Jiangxi Bank Co., Ltd. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| HK$0.750 ( 0%) | HK$0.750 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1916.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.750 | - |
| R2 | 0.750 | - |
| R1 | 0.750 | - |
| Price | 0.750 | |
| S1 | 0.750 | - |
| S2 | 0.750 | - |
| S3 | 0.750 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.83 | 10.67% |
| R2 | 0.790 | 5.33% |
| R1 | 0.780 | 4.00% |
| Price | 0.750 | |
| S1 | 0.740 | -1.33% |
| S2 | 0.710 | -5.33% |
| S3 | 0.670 | -10.67% |
1916 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 11, 2024 | Jun 11, 2024 | Jul 26, 2024 | HK$0.0433 | 5.77% |
| 2 | Jun 01, 2023 | Jun 01, 2023 | Jun 01, 2023 | HK$0.0554 | 5.60% |
| 3 | Jun 30, 2022 | Jun 30, 2022 | Jun 30, 2022 | HK$0.0586 | 6.23% |
| 4 | May 25, 2021 | May 25, 2021 | May 25, 2021 | HK$0.0604 | 1.93% |
| 5 | Mar 27, 2020 | Jun 02, 2020 | Jul 28, 2020 | HK$0.0544 | 1.62% |
FAQ
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