Jiangsu Jinling Sports Equipment Co Ltd Stock Forecast
Jiangsu Jinling Sports Equipment Co Ltd stock price up 0.692% on Tuesday
(Updated on May 07, 2024)
The Jiangsu Jinling Sports Equipment Co Ltd stock price gained 0.692% on the last trading day (Tuesday, 7th May 2024), rising from ¥14.46 to ¥14.56. It has now gained 5 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 4.18% from a day low at ¥14.11 to a day high of ¥14.70. The price has risen in 8 of the last 10 days and is up by 13.66% over the past 2 weeks. Volume fell on the last day by -324 thousand shares and in total, 2 million shares were bought and sold for approximately ¥26.48 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 3.43% during the next 3 months and, with a 90% probability hold a price between ¥11.93 and ¥16.51 at the end of this 3-month period.
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300651.SZ Signals & Forecast
The Jiangsu Jinling Sports Equipment Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥13.93 and ¥14.39. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 27.50%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Jiangsu Jinling Sports Equipment Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥13.11 and ¥12.95. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Jiangsu Jinling Sports Equipment Co Ltd finds support just below today's level at ¥13.11. If this is broken, then the next support from accumulated volume will be at ¥12.95 and ¥11.42.
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 ¥0.590 between high and low, or 4.18%. For the last week, the stock has had daily average volatility of 5.18%.
Our recommended stop-loss: ¥14.05 (-3.52%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (300651.SZ) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Jiangsu Jinling Sports Equipment Co Ltd to open at ¥14.46, and during the day (based on 14 day Average True Range), to move between ¥13.42 and ¥15.70, which gives a possible trading interval of +/-¥1.14 (+/-7.82%) up or down from last closing price. If Jiangsu Jinling Sports Equipment Co Ltd takes out the full calculated possible swing range there will be an estimated 15.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥14.69 (0.89%) than the support at ¥13.11 (9.96%), 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.
Earnings coming up
Jiangsu Jinling Sports Equipment Co Ltd will release earnings BMO on Tuesday, May 14, 2024. We will update the financials statements for Jiangsu Jinling Sports Equipment Co Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.32% in the first trading day after earnings release.
Is Jiangsu Jinling Sports Equipment Co Ltd stock A Buy?
Jiangsu Jinling Sports Equipment 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.
Current score: -0.352 Hold/Accumulate Unchanged
Predicted Opening Price for Jiangsu Jinling Sports Equipment Co Ltd of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| ¥14.46 ( 0.710%) | ¥14.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300651.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.05 | 3.34 % | |
| R2 | 14.82 | 1.79 % | ||
| R1 | 14.68 | 0.84 % | ||
| Current price: | 14.56 | |||
| Support | S1 | 14.23 | -2.26 % | |
| S2 | 14.09 | -3.21 % | ||
| S3 | 13.87 | -4.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.36 | 5.49 % | |
| R2 | 15.05 | 3.37 % | ||
| R1 | 14.69 | 0.89 % | ||
| Current price | 14.56 | |||
| Support | S1 | 13.11 | -9.96% | |
| S2 | 12.95 | -11.06% | ||
| S3 | 11.42 | -21.57% |
300651 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 09, 2023 | Jun 09, 2023 | Jun 09, 2023 | ¥0.120 | 0.448% |
| 2 | Jun 09, 2022 | Jun 09, 2022 | Jun 09, 2022 | ¥0.100 | 0.364% |
| 3 | Jun 09, 2021 | Jun 09, 2021 | Jun 09, 2021 | ¥0.100 | 0.238% |
| 4 | Jun 09, 2020 | Jun 09, 2020 | Jun 09, 2020 | ¥0.100 | 0.323% |
| 5 | May 28, 2019 | May 28, 2019 | May 28, 2019 | ¥0.165 | 0.408% |
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