Zhejiang Jinke Culture Industry Co Ltd Stock Forecast
Zhejiang Jinke Culture Industry Co Ltd stock downgraded from Buy Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on May 22, 2024)
The Zhejiang Jinke Culture Industry Co Ltd stock price fell by -1.13% on the last day (Wednesday, 22nd May 2024) from ¥4.43 to ¥4.38. During the last trading day the stock fluctuated 2.56% from a day low at ¥4.29 to a day high of ¥4.40. The price has fallen in 7 of the last 10 days but is still up by 11.17% over the past 2 weeks. 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 -150 million shares and in total, 235 million shares were bought and sold for approximately ¥1.03 billion.
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 ¥4.38, a level that may pose a second chance to hit a runner. According to fan-theory ¥5.47 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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300459.SZ Signals & Forecast
The Zhejiang Jinke Culture Industry Co Ltd 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 ¥4.36 and ¥4.11. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -1.57%. 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 Zhejiang Jinke Culture Industry Co Ltd stock
Zhejiang Jinke Culture Industry Co Ltd finds support from accumulated volume at ¥4.36 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ¥0.110 between high and low, or 2.56%. For the last week, the stock has had daily average volatility of 9.36%.
Our recommended stop-loss: ¥4.21 (-3.91%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 23 days ago.)
Trading Expectations (300459.SZ) For The Upcoming Trading Day Of Thursday 23rd
For the upcoming trading day on Thursday, 23rd we expect Zhejiang Jinke Culture Industry Co Ltd to open at ¥4.36, and during the day (based on 14 day Average True Range), to move between ¥4.05 and ¥4.71, which gives a possible trading interval of +/-¥0.333 (+/-7.60%) up or down from last closing price. If Zhejiang Jinke Culture Industry Co Ltd takes out the full calculated possible swing range there will be an estimated 15.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥4.36 (0.46%) than the resistance at ¥4.43 (1.14%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Zhejiang Jinke Culture Industry Co Ltd stock A Buy?
Zhejiang Jinke Culture Industry 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. 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: 0.531 Hold/Accumulate Downgraded
Predicted Opening Price for Zhejiang Jinke Culture Industry Co Ltd of Thursday, May 23, 2024
| Fair opening price May 23, 2024 | Current price |
|---|---|
| ¥4.36 ( 0.533%) | ¥4.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300459.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.47 | 1.98 % | |
| R2 | 4.42 | 1.02 % | ||
| R1 | 4.40 | 0.427 % | ||
| Current price: | 4.38 | |||
| Support | S1 | 4.31 | -1.49 % | |
| S2 | 4.29 | -2.08 % | ||
| S3 | 4.25 | -3.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.71 | 7.53 % | |
| R2 | 4.45 | 1.60 % | ||
| R1 | 4.43 | 1.14 % | ||
| Current price | 4.38 | |||
| Support | S1 | 4.36 | -0.457% | |
| S2 | 4.33 | -1.14% | ||
| S3 | 4.28 | -2.28% |
300459 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 01, 2019 | Jul 01, 2019 | Jul 01, 2019 | ¥0.0367 | 0% |
| 2 | May 23, 2018 | May 23, 2018 | May 23, 2018 | ¥0.0111 | 0% |
| 3 | May 12, 2017 | May 12, 2017 | May 12, 2017 | ¥0.0167 | 0% |
| 4 | May 24, 2016 | May 24, 2016 | May 24, 2016 | ¥0.0148 | 0% |
| 5 | Jul 14, 2015 | Jul 14, 2015 | Jul 14, 2015 | ¥0.0074 | 0% |
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