Jbm (healthcare) Limited Stock Forecast

Jbm (healthcare) Limited stock price up more than 5.00% on Friday
(Updated on Jun 28, 2024)

2161.HK Signals & Forecast

The Jbm (healthcare) 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$1.00 and HK$0.98. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 31, 2024, and so far it has risen 12.90%. 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 Jbm (healthcare) Limited stock

Jbm (healthcare) Limited finds support from accumulated volume at HK$1.02 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 5.94%. For the last week, the stock has had daily average volatility of 2.62%.

The Jbm (healthcare) 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. 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$1.01 (-3.44%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from a pivot bottom found 29 days ago.)

Trading Expectations (2161.HK) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect Jbm (healthcare) Limited to open at HK$1.04, and during the day (based on 14 day Average True Range), to move between HK$1.03 and HK$1.07, which gives a possible trading interval of +/-HK$0.0241 (+/-2.29%) up or down from last closing price. If Jbm (healthcare) Limited takes out the full calculated possible swing range there will be an estimated 4.58% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ HK$1.02, some HK$0.0300 (2.86%) from the current price of HK$1.05, our system finds the risk reward attractive.

Is Jbm (healthcare) Limited stock A Buy?

Jbm (healthcare) 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

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 Jbm (healthcare) Limited of Tuesday, July 2, 2024

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