JD Logistics, Inc. Stock Forecast
JD Logistics, Inc. stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Jun 20, 2024)
The JD Logistics, Inc. stock price fell by -4.29% on the last day (Thursday, 20th Jun 2024) from HK$8.85 to HK$8.47. During the last trading day the stock fluctuated 5.11% from a day low at HK$8.42 to a day high of HK$8.85. The price has fallen in 6 of the last 10 days and is down by -2.19% for this period. Volume has increased on the last day by 3 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 7 million shares were bought and sold for approximately HK$60.46 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$8.43 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 12.54% during the next 3 months and, with a 90% probability hold a price between HK$9.49 and HK$12.02 at the end of this 3-month period.
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2618.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 1.93%. 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 JD Logistics, Inc. 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$8.57 and HK$8.97. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for JD Logistics, Inc. stock
JD Logistics, Inc. finds support from accumulated volume at HK$8.15 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$0.430 between high and low, or 5.11%. For the last week, the stock has had daily average volatility of 3.20%.
Our recommended stop-loss: HK$8.04 (-5.06%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (2618.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect JD Logistics, Inc. to open at HK$8.58, and during the day (based on 14 day Average True Range), to move between HK$8.17 and HK$8.77, which gives a possible trading interval of +/-HK$0.302 (+/-3.57%) up or down from last closing price. If JD Logistics, Inc. takes out the full calculated possible swing range there will be an estimated 7.13% 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$8.52 (0.59%) than the support at HK$8.15 (3.78%), 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 JD Logistics, Inc. stock A Buy?
JD Logistics, Inc. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.890 Hold/Accumulate Upgraded
Predicted Opening Price for JD Logistics, Inc. of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$8.58 ( 1.30%) | HK$8.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2618.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 9.01 | 6.38% |
| R2 | 8.85 | 4.44% |
| R1 | 8.74 | 3.24% |
| Price | 8.47 | |
| S1 | 8.42 | -0.641% |
| S2 | 8.31 | -1.84% |
| S3 | 8.15 | -3.78% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.22 | 20.66% |
| R2 | 9.46 | 11.69% |
| R1 | 8.52 | 0.590% |
| Price | 8.47 | |
| S1 | 8.15 | -3.78% |
| S2 | 8.10 | -4.37% |
| S3 | 7.55 | -10.86% |
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