Jiangsu Jinling Sports Equipment Co Ltd Stock Forecast
Jiangsu Jinling Sports Equipment Co Ltd stock downgraded from Sell Candidate to Strong Sell Candidate after Wednesday trading session.
(Updated on May 29, 2024)
The Jiangsu Jinling Sports Equipment Co Ltd stock price gained 0.0706% on the last trading day (Wednesday, 29th May 2024), rising from ¥14.17 to ¥14.18. During the last trading day the stock fluctuated 3.28% from a day low at ¥14.01 to a day high of ¥14.47. The price has fallen in 6 of the last 10 days and is down by -4.51% for this period. Volume fell on the last day by -471 thousand shares and in total, 2 million shares were bought and sold for approximately ¥26.11 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 is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Jiangsu Jinling Sports Equipment Co Ltd stock with a 90% probability to be traded between ¥11.20 and ¥15.27 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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300651.SZ Signals & Forecast
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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Jiangsu Jinling Sports Equipment Co Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ¥14.57 and ¥14.24. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 08, 2024, and so far it has fallen -8.52%. 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 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 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 ¥0.460 between high and low, or 3.28%. For the last week, the stock has had daily average volatility of 3.32%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (300651.SZ) For The Upcoming Trading Day Of Thursday 30th
For the upcoming trading day on Thursday, 30th we expect Jiangsu Jinling Sports Equipment Co Ltd to open at ¥14.22, and during the day (based on 14 day Average True Range), to move between ¥13.41 and ¥14.95, which gives a possible trading interval of +/-¥0.774 (+/-5.46%) 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 10.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥15.09 (6.42%) than the support at ¥13.11 (7.55%), 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 Jinling Sports Equipment Co Ltd stock A Buy?
Jiangsu Jinling Sports Equipment Co Ltd holds several negative signals and is within a very wide and falling trend, so we believe 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 Sell to a Strong Sell candidate.
Current score: -5.088 Strong Sell Candidate Downgraded
Predicted Opening Price for Jiangsu Jinling Sports Equipment Co Ltd of Thursday, May 30, 2024
| Fair opening price May 30, 2024 | Current price |
|---|---|
| ¥14.22 ( 0.282%) | ¥14.18 |
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 | 14.68 | 3.53 % | |
| R2 | 14.50 | 2.29 % | ||
| R1 | 14.40 | 1.52 % | ||
| Current price: | 14.18 | |||
| Support | S1 | 14.04 | -0.96 % | |
| S2 | 13.94 | -1.72 % | ||
| S3 | 13.76 | -2.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.50 | 9.31 % | |
| R2 | 15.13 | 6.70 % | ||
| R1 | 15.09 | 6.42 % | ||
| Current price | 14.18 | |||
| Support | S1 | 13.11 | -7.55% | |
| S2 | 12.95 | -8.67% | ||
| S3 | 11.42 | -19.46% |
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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