Jafron Biomedical Co Ltd Stock Forecast

Red day on Wednesday for Jafron Biomedical Co Ltd stock after losing 1.55%
(Updated on May 08, 2024)

300529.SZ Signals & Forecast

The Jafron Biomedical 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 ¥27.32 and ¥23.76. 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 Monday, May 06, 2024, and so far it has fallen -2.62%. 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. The stock had a Golden Star Signal on Monday, April 22, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Jafron Biomedical Co Ltd stock

Jafron Biomedical Co Ltd finds support from accumulated volume at ¥27.54 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 ¥2.37 between high and low, or 8.83%. For the last week, the stock has had daily average volatility of 10.73%.

The Jafron Biomedical Co Ltd stock is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the stock is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: ¥27.39 (-4.36%) (This stock has high daily movements and this gives high risk. The RSI14 is 79 and this increases the risk substantially. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (300529.SZ) For The Upcoming Trading Day Of Thursday 9th

For the upcoming trading day on Thursday, 9th we expect Jafron Biomedical Co Ltd to open at ¥28.22, and during the day (based on 14 day Average True Range), to move between ¥26.80 and ¥30.48, which gives a possible trading interval of +/-¥1.84 (+/-6.41%) up or down from last closing price. If Jafron Biomedical Co Ltd takes out the full calculated possible swing range there will be an estimated 12.83% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥29.09 (1.57%) than the support at ¥27.54 (3.84%), 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 Jafron Biomedical Co Ltd stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Jafron Biomedical Co Ltd stock to perform well in the short-term.

Current score: 2.398 Buy Candidate Unchanged

Predicted Opening Price for Jafron Biomedical Co Ltd of Thursday, May 9, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.