Jiangsu Jiuwu Hitech Co Ltd Stock Forecast
Weaker technical forecast for Jiangsu Jiuwu Hitech Co Ltd as stock downgraded to Sell Candidate.
(Updated on Mar 28, 2024)
The Jiangsu Jiuwu Hitech Co Ltd stock price gained 1.17% on the last trading day (Thursday, 28th Mar 2024), rising from ¥22.22 to ¥22.48. During the last trading day the stock fluctuated 3.99% from a day low at ¥22.06 to a day high of ¥22.94. The price has risen in 6 of the last 10 days but is still down by -4.75% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately ¥30.11 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ¥23.62 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -22.42% during the next 3 months and, with a 90% probability hold a price between ¥9.81 and ¥18.33 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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300631.SZ Signals & Forecast
The Jiangsu Jiuwu Hitech Co Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ¥23.09. On a fall, the stock will find some support from the long-term average at approximately ¥21.98. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -11.36%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Jiangsu Jiuwu Hitech Co Ltd stock
Jiangsu Jiuwu Hitech Co Ltd finds support from accumulated volume at ¥21.88 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 ¥0.88 between high and low, or 3.99%. For the last week, the stock has had daily average volatility of 4.26%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (300631.SZ) For The Upcoming Trading Day Of Friday 29th
For the upcoming trading day on Friday, 29th we expect Jiangsu Jiuwu Hitech Co Ltd to open at ¥22.49, and during the day (based on 14 day Average True Range), to move between ¥21.33 and ¥23.63, which gives a possible trading interval of +/-¥1.15 (+/-5.14%) up or down from last closing price. If Jiangsu Jiuwu Hitech Co Ltd takes out the full calculated possible swing range there will be an estimated 10.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥22.95 (2.09%) than the support at ¥21.88 (2.67%), 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 Jiuwu Hitech Co Ltd stock A Buy?
Jiangsu Jiuwu Hitech Co Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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: -1.101 Sell Candidate Downgraded
Predicted Opening Price for Jiangsu Jiuwu Hitech Co Ltd of Friday, March 29, 2024
Fair opening price March 29, 2024 | Current price |
---|---|
¥22.49 ( 0.0593%) | ¥22.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300631.SZ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 23.37 | 3.97 % | |
R2 | 23.04 | 2.48 % | ||
R1 | 22.83 | 1.55 % | ||
Current price: | 22.48 | |||
Support | S1 | 22.16 | -1.44 % | |
S2 | 21.95 | -2.36 % | ||
S3 | 21.61 | -3.86 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 25.36 | 12.81 % | |
R2 | 24.25 | 7.87 % | ||
R1 | 22.95 | 2.09 % | ||
Current price | 22.48 | |||
Support | S1 | 21.88 | -2.67% | |
S2 | 21.60 | -3.91% | ||
S3 | 18.89 | -15.97% |
300631 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jul 07, 2023 | Jul 07, 2023 | Jul 07, 2023 | ¥0.0700 | 0.211% |
2 | May 17, 2022 | May 17, 2022 | May 17, 2022 | ¥0.150 | 0.563% |
3 | May 28, 2021 | May 28, 2021 | May 28, 2021 | ¥0.180 | 0.82% |
4 | Jul 10, 2020 | Jul 10, 2020 | Jul 10, 2020 | ¥0.150 | 0.712% |
5 | Jul 16, 2019 | Jul 16, 2019 | Jul 16, 2019 | ¥0.150 | 0.775% |
FAQ
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