Jianglong Shipbuilding Co., Ltd. Stock Forecast
Jianglong Shipbuilding Co., Ltd. stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on Jun 26, 2024)
The Jianglong Shipbuilding Co., Ltd. stock price gained 2.70% on the last trading day (Wednesday, 26th Jun 2024), rising from ¥11.10 to ¥11.40. During the last trading day the stock fluctuated 7.55% from a day low at ¥10.86 to a day high of ¥11.68. The price has fallen in 6 of the last 10 days and is down by -8.14% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 79 thousand more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately ¥55.04 million.
The stock lies in the middle of a very 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 7.52% during the next 3 months and, with a 90% probability hold a price between ¥11.22 and ¥14.19 at the end of this 3-month period.
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300589.SZ Signals & Forecast
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 Jianglong Shipbuilding 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 ¥11.68 and ¥12.17. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 23, 2024, and so far it has fallen -11.28%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Jianglong Shipbuilding Co., Ltd. stock
Jianglong Shipbuilding Co., Ltd. finds support from accumulated volume at ¥11.37 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 ¥0.82 between high and low, or 7.55%. For the last week, the stock has had daily average volatility of 6.86%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (300589.SZ) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Jianglong Shipbuilding Co., Ltd. to open at ¥11.31, and during the day (based on 14 day Average True Range), to move between ¥10.61 and ¥12.19, which gives a possible trading interval of +/-¥0.788 (+/-6.91%) up or down from last closing price. If Jianglong Shipbuilding Co., Ltd. takes out the full calculated possible swing range there will be an estimated 13.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥11.37 (0.26%) than the resistance at ¥12.41 (8.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Jianglong Shipbuilding Co., Ltd. stock A Buy?
The Jianglong Shipbuilding Co., Ltd. stock holds several negative signals and despite the positive trend, we believe Jianglong Shipbuilding Co., Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.490 Sell Candidate Downgraded
Predicted Opening Price for Jianglong Shipbuilding Co., Ltd. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ¥11.31 ( 0.760%) | ¥11.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300589.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.13 | 6.43% |
| R2 | 11.82 | 3.69% |
| R1 | 11.63 | 1.99% |
| Price | 11.40 | |
| S1 | 11.00 | -3.51% |
| S2 | 10.81 | -5.21% |
| S3 | 10.49 | -7.95% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.85 | 12.72% |
| R2 | 12.52 | 9.82% |
| R1 | 12.41 | 8.86% |
| Price | 11.40 | |
| S1 | 11.37 | -0.263% |
| S2 | 11.12 | -2.46% |
| S3 | 9.70 | -14.91% |
300589 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 05, 2022 | Jul 05, 2022 | Jul 05, 2022 | ¥0.0300 | 0.265% |
| 2 | Jun 26, 2019 | Jun 26, 2019 | Jun 26, 2019 | ¥0.0206 | 0.243% |
| 3 | May 17, 2018 | May 17, 2018 | May 17, 2018 | ¥0.0098 | 0.0998% |
| 4 | Jun 15, 2017 | Jun 15, 2017 | Jun 15, 2017 | ¥0.0075 | 0.0929% |
FAQ
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