Jiangyin Electrical Alloy Co Ltd Stock Forecast
Stronger technical forecast for Jiangyin Electrical Alloy Co Ltd stock price after Friday trading.
(Updated on May 17, 2024)
The Jiangyin Electrical Alloy Co Ltd stock price gained 1.62% on the last trading day (Friday, 17th May 2024), rising from ¥10.48 to ¥10.65. During the last trading day the stock fluctuated 6.38% from a day low at ¥10.34 to a day high of ¥11.00. The price has been going up and down for this period, and there has been a 4.72% gain for the last 2 weeks. Volume fell on the last day by -1 million shares and in total, 7 million shares were bought and sold for approximately ¥74.66 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 strong 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 10.62% during the next 3 months and, with a 90% probability hold a price between ¥10.49 and ¥14.80 at the end of this 3-month period.
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300697.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 17.68%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Jiangyin Electrical Alloy 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 ¥10.72 and ¥10.80. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Jiangyin Electrical Alloy Co Ltd stock
Jiangyin Electrical Alloy Co Ltd finds support from accumulated volume at ¥10.64 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 ¥0.660 between high and low, or 6.38%. For the last week, the stock has had daily average volatility of 6.42%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (300697.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Jiangyin Electrical Alloy Co Ltd to open at ¥10.66, and during the day (based on 14 day Average True Range), to move between ¥9.90 and ¥11.40, which gives a possible trading interval of +/-¥0.752 (+/-7.06%) up or down from last closing price. If Jiangyin Electrical Alloy Co Ltd takes out the full calculated possible swing range there will be an estimated 14.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥10.64 (0.09%) than the resistance at ¥11.10 (4.23%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Jiangyin Electrical Alloy Co Ltd stock A Buy?
The Jiangyin Electrical Alloy Co Ltd stock holds several negative signals and despite the positive trend, we believe Jiangyin Electrical Alloy Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.212 Sell Candidate Upgraded
Predicted Opening Price for Jiangyin Electrical Alloy Co Ltd of Monday, May 20, 2024
Fair opening price May 20, 2024 | Current price |
---|---|
¥10.66 ( 0.125%) | ¥10.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300697.SZ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 11.32 | 6.32 % | |
R2 | 11.07 | 3.96 % | ||
R1 | 10.92 | 2.49 % | ||
Current price: | 10.65 | |||
Support | S1 | 10.41 | -2.24 % | |
S2 | 10.26 | -3.70 % | ||
S3 | 10.00 | -6.07 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 12.00 | 12.68 % | |
R2 | 11.96 | 12.30 % | ||
R1 | 11.10 | 4.23 % | ||
Current price | 10.65 | |||
Support | S1 | 10.64 | -0.0939% | |
S2 | 10.59 | -0.563% | ||
S3 | 10.46 | -1.78% |
300697 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 15, 2024 | May 15, 2024 | May 15, 2024 | ¥0.200 | 1.88% |
2 | May 10, 2023 | May 10, 2023 | May 10, 2023 | ¥0.180 | 1.62% |
3 | Jun 06, 2022 | Jun 06, 2022 | Jun 06, 2022 | ¥0.160 | 1.57% |
4 | Apr 14, 2021 | Apr 14, 2021 | Apr 14, 2021 | ¥0.250 | 2.05% |
5 | Aug 28, 2020 | Aug 28, 2020 | Aug 28, 2020 | ¥0.150 | 1.35% |
FAQ
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