Jiangsu Yunyi Electric Co., Ltd. Stock Forecast
Jiangsu Yunyi Electric Co., Ltd. stock upgraded to Hold/Accumulate.
(Updated on Jun 26, 2024)
The Jiangsu Yunyi Electric Co., Ltd. stock price gained 3.21% on the last trading day (Wednesday, 26th Jun 2024), rising from ¥6.54 to ¥6.75. During the last trading day the stock fluctuated 7.63% from a day low at ¥6.42 to a day high of ¥6.91. The price has risen in 6 of the last 10 days and is up by 4.01% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 15 million shares were bought and sold for approximately ¥100.41 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.75% during the next 3 months and, with a 90% probability hold a price between ¥6.79 and ¥8.42 at the end of this 3-month period.
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300304.SZ Signals & Forecast
There are mixed signals in the stock today. The Jiangsu Yunyi Electric 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 ¥6.76 and ¥6.82. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 6.64%. 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 Jiangsu Yunyi Electric Co., Ltd. stock
Jiangsu Yunyi Electric Co., Ltd. finds support from accumulated volume at ¥6.73 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 ¥0.490 between high and low, or 7.63%. For the last week, the stock has had daily average volatility of 8.04%.
Our recommended stop-loss: ¥6.48 (-3.99%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 35 days ago.)
Trading Expectations (300304.SZ) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Jiangsu Yunyi Electric Co., Ltd. to open at ¥6.69, and during the day (based on 14 day Average True Range), to move between ¥6.36 and ¥7.14, which gives a possible trading interval of +/-¥0.395 (+/-5.85%) up or down from last closing price. If Jiangsu Yunyi Electric Co., Ltd. takes out the full calculated possible swing range there will be an estimated 11.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥6.77 (0.30%) than the support at ¥6.73 (0.30%), 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 Jiangsu Yunyi Electric Co., Ltd. stock A Buy?
Jiangsu Yunyi Electric Co., Ltd. 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: -0.607 Hold/Accumulate Upgraded
Predicted Opening Price for Jiangsu Yunyi Electric Co., Ltd. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ¥6.69 ( 0.84%) | ¥6.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300304.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.18 | 6.42% |
| R2 | 7.00 | 3.65% |
| R1 | 6.88 | 1.93% |
| Price | 6.75 | |
| S1 | 6.51 | -3.61% |
| S2 | 6.39 | -5.33% |
| S3 | 6.20 | -8.10% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.70 | 14.07% |
| R2 | 6.93 | 2.67% |
| R1 | 6.77 | 0.296% |
| Price | 6.75 | |
| S1 | 6.73 | -0.296% |
| S2 | 6.52 | -3.41% |
| S3 | 6.49 | -3.85% |
300304 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 19, 2024 | Apr 19, 2024 | Apr 19, 2024 | ¥0.0600 | 0.93% |
| 2 | Apr 26, 2023 | Apr 26, 2023 | Apr 26, 2023 | ¥0.0360 | 0.84% |
| 3 | Apr 14, 2022 | Apr 14, 2022 | Apr 14, 2022 | ¥0.0400 | 0.780% |
| 4 | May 28, 2021 | May 28, 2021 | May 28, 2021 | ¥0.0350 | 0.710% |
| 5 | Jun 11, 2020 | Jun 11, 2020 | Jun 11, 2020 | ¥0.0300 | 0.785% |
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