Jiangsu Zitian Media Technology Co., Ltd Stock Forecast
High volatility in Jiangsu Zitian Media Technology Co., Ltd stock price on Tuesday which ended trading at ¥12.07
(Updated on Jun 25, 2024)
The Jiangsu Zitian Media Technology Co., Ltd stock price fell by -2.35% on the last day (Tuesday, 25th Jun 2024) from ¥12.36 to ¥12.07. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 12.61% from a day low at ¥11.97 to a day high of ¥13.48. The price has fallen in 6 of the last 10 days and is down by -11.64% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 million shares and in total, 9 million shares were bought and sold for approximately ¥111.74 million.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is ¥10.68, a level that may pose a second chance to hit a runner. According to fan-theory ¥17.56 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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300280.SZ Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Jiangsu Zitian Media Technology 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 ¥13.48 and ¥17.77. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 13, 2024, and so far it has fallen -17.89%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Jiangsu Zitian Media Technology Co., Ltd stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 ¥1.51 between high and low, or 12.61%. For the last week, the stock has had daily average volatility of 10.64%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (300280.SZ) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Jiangsu Zitian Media Technology Co., Ltd to open at ¥12.51, and during the day (based on 14 day Average True Range), to move between ¥10.18 and ¥13.96, which gives a possible trading interval of +/-¥1.89 (+/-15.68%) up or down from last closing price. If Jiangsu Zitian Media Technology Co., Ltd takes out the full calculated possible swing range there will be an estimated 31.36% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ¥13.21, some ¥1.14 (9.44%) from the current price of ¥12.07, our system finds the risk reward not very attractive.
Is Jiangsu Zitian Media Technology Co., Ltd stock A Buy?
Jiangsu Zitian Media Technology Co., Ltd holds several negative signals and is within a very 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.828 Sell Candidate Upgraded
Predicted Opening Price for Jiangsu Zitian Media Technology Co., Ltd of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ¥12.51 ( 3.62%) | ¥12.07 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300280.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.02 | 16.13% |
| R2 | 13.44 | 11.35% |
| R1 | 13.08 | 8.40% |
| Price | 12.07 | |
| S1 | 11.93 | -1.16% |
| S2 | 11.57 | -4.11% |
| S3 | 11.00 | -8.89% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.80 | 22.62% |
| R2 | 14.61 | 21.04% |
| R1 | 13.21 | 9.44% |
| Price | 12.07 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
300280 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 14, 2023 | Jul 14, 2023 | Jul 14, 2023 | ¥0.0100 | 0.0234% |
| 2 | Jul 13, 2022 | Jul 13, 2022 | Jul 13, 2022 | ¥0.0100 | 0.0473% |
| 3 | Jul 19, 2021 | Jul 19, 2021 | Jul 19, 2021 | ¥0.0100 | 0.0275% |
| 4 | Jul 15, 2020 | Jul 15, 2020 | Jul 15, 2020 | ¥0.0500 | 0.0850% |
| 5 | Jun 29, 2017 | Jun 29, 2017 | Jun 29, 2017 | ¥0.0100 | 0.0336% |
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