JD Logistics, Inc. Stock Forecast
Stronger technical forecast for JD Logistics, Inc. stock price after Friday trading.
(Updated on Jun 28, 2024)
The JD Logistics, Inc. stock price gained 3.46% on the last trading day (Friday, 28th Jun 2024), rising from HK$8.10 to HK$8.38. During the last trading day the stock fluctuated 3.83% from a day low at HK$8.09 to a day high of HK$8.40. The price has been going up and down for this period, and there has been a -1.64% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 570 thousand more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately HK$44.18 million.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$8.11 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 6.81% during the next 3 months and, with a 90% probability hold a price between HK$8.66 and HK$11.27 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 Thursday, June 27, 2024, and so far it has risen 3.46%. 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. 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 a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$8.85. On a fall, the stock will find some support from the short-term average at HK$8.30. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
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 is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.310 (3.83%) between high and low. For the last week, the stock has had daily average volatility of 3.19%.
Our recommended stop-loss: HK$7.92 (-5.44%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (2618.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect JD Logistics, Inc. to open at HK$8.29, and during the day (based on 14 day Average True Range), to move between HK$8.10 and HK$8.66, which gives a possible trading interval of +/-HK$0.284 (+/-3.39%) up or down from last closing price. If JD Logistics, Inc. takes out the full calculated possible swing range there will be an estimated 6.78% 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 (1.67%) than the support at HK$8.15 (2.74%), 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 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.133 Hold/Accumulate Upgraded
Predicted Opening Price for JD Logistics, Inc. of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| HK$8.29 ( 1.07%) | HK$8.38 |
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 | 8.60 | 2.63% |
| R2 | 8.48 | 1.21% |
| R1 | 8.41 | 0.339% |
| Price | 8.38 | |
| S1 | 8.17 | -2.49% |
| S2 | 8.10 | -3.36% |
| S3 | 7.98 | -4.77% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.22 | 21.96% |
| R2 | 9.46 | 12.89% |
| R1 | 8.52 | 1.67% |
| Price | 8.38 | |
| S1 | 8.15 | -2.74% |
| S2 | 8.10 | -3.34% |
| S3 | 7.55 | -9.90% |
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