Jiangsu Zhengdan Chemical Industry CoLtd Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
High volatility in Jiangsu Zhengdan Chemical Industry CoLtd stock price on Tuesday which ended trading at ¥19.90
(Updated on Apr 30, 2024)
The Jiangsu Zhengdan Chemical Industry CoLtd stock price gained 14.37% on the last trading day (Tuesday, 30th Apr 2024), rising from ¥17.40 to ¥19.90. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 50.30% from a day low at ¥13.30 to a day high of ¥19.99. The price has risen in 8 of the last 10 days and is up by 100.81% 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, 7 million more shares were traded than the day before. In total, 70 million shares were bought and sold for approximately ¥1.40 billion.
Given the current short-term trend, the stock is expected to rise 107.76% during the next 3 months and, with a 90% probability hold a price between ¥21.03 and ¥41.34 at the end of this 3-month period.
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300641.SZ Signals & Forecast
Mostly positive signals in the chart today. The Jiangsu Zhengdan Chemical Industry CoLtd 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 ¥15.14 and ¥7.65. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, February 07, 2024, and so far it has risen 581.51%. 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 Zhengdan Chemical Industry CoLtd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥17.40. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at ¥ may give a huge drop in the stock price.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ¥6.69 between high and low, or 50.30%. For the last week, the stock has had daily average volatility of 27.09%.
The Jiangsu Zhengdan Chemical Industry CoLtd stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but 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: ¥19.27 (-3.18%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 91 and this increases the risk substantially. There is a buy signal from a pivot bottom found 53 days ago.)
Trading Expectations (300641.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Jiangsu Zhengdan Chemical Industry CoLtd to open at ¥17.73, and during the day (based on 14 day Average True Range), to move between ¥17.51 and ¥22.29, which gives a possible trading interval of +/-¥2.39 (+/-11.99%) up or down from last closing price. If Jiangsu Zhengdan Chemical Industry CoLtd takes out the full calculated possible swing range there will be an estimated 23.98% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ¥17.40, some ¥2.50 (12.56%) from the current price of ¥19.90, our system finds the risk reward attractive.
Is Jiangsu Zhengdan Chemical Industry CoLtd stock A Buy?
Jiangsu Zhengdan Chemical Industry CoLtd holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 8.031 Strong Buy Candidate Unchanged
Predicted Opening Price for Jiangsu Zhengdan Chemical Industry CoLtd of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥17.73 ( 10.90%) | ¥19.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300641.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.42 | 22.71 % | |
| R2 | 21.86 | 9.87 % | ||
| R1 | 20.29 | 1.94 % | ||
| Current price: | 19.90 | |||
| Support | S1 | 15.17 | -23.75 % | |
| S2 | 13.60 | -31.68 % | ||
| S3 | 11.04 | -44.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 19.90 | |||
| Support | S1 | 17.40 | -12.56% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
300641 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 26, 2023 | Jul 26, 2023 | Jul 26, 2023 | ¥0.0500 | 0.92% |
| 2 | May 16, 2022 | May 16, 2022 | May 16, 2022 | ¥0.0500 | 0.97% |
| 3 | Jun 25, 2021 | Jun 25, 2021 | Jun 25, 2021 | ¥0.0200 | 0.254% |
| 4 | Jul 16, 2020 | Jul 16, 2020 | Jul 16, 2020 | ¥0.0200 | 0.407% |
| 5 | Jul 25, 2019 | Jul 25, 2019 | Jul 25, 2019 | ¥0.0400 | 0.694% |
FAQ
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