Jiangsu Huaxin New Material Co Ltd Stock Forecast
Big movements in Jiangsu Huaxin New Material Co Ltd stock price on Wednesday moving 17.55% between high and low
(Updated on Apr 17, 2024)
The Jiangsu Huaxin New Material Co Ltd stock price gained 11.96% on the last trading day (Wednesday, 17th Apr 2024), rising from ¥11.04 to ¥12.36. During the last trading day the stock fluctuated 17.55% from a day low at ¥11.28 to a day high of ¥13.26. The price has risen in 6 of the last 10 days but is still down by -10.69% for this period. Volume fell on the last day by -101 thousand shares and in total, 2 million shares were bought and sold for approximately ¥25.59 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 3.29% during the next 3 months and, with a 90% probability hold a price between ¥9.19 and ¥14.62 at the end of this 3-month period.
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300717.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 Huaxin New Material 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 ¥12.78 and ¥12.84. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -12.28%. 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 Huaxin New Material Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥10.00 and ¥9.78. 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 Huaxin New Material Co Ltd finds support just below today's level at ¥10.00. If this is broken, then the next support from accumulated volume will be at ¥9.78 and ¥9.63.
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 ¥1.98 between high and low, or 17.55%. For the last week, the stock has had daily average volatility of 12.16%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (300717.SZ) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Jiangsu Huaxin New Material Co Ltd to open at ¥12.30, and during the day (based on 14 day Average True Range), to move between ¥11.41 and ¥13.31, which gives a possible trading interval of +/-¥0.95 (+/-7.69%) up or down from last closing price. If Jiangsu Huaxin New Material Co Ltd takes out the full calculated possible swing range there will be an estimated 15.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥13.27 (7.36%) than the support at ¥10.00 (19.09%), 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 Huaxin New Material Co Ltd stock A Buy?
The Jiangsu Huaxin New Material Co Ltd stock holds several negative signals and despite the positive trend, we believe Jiangsu Huaxin New Material Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.713 Sell Candidate Unchanged
Predicted Opening Price for Jiangsu Huaxin New Material Co Ltd of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| ¥12.30 ( 0.485%) | ¥12.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300717.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.28 | 15.53 % | |
| R2 | 13.52 | 9.41 % | ||
| R1 | 13.06 | 5.63 % | ||
| Current price: | 12.36 | |||
| Support | S1 | 11.54 | -6.60 % | |
| S2 | 11.08 | -10.39 % | ||
| S3 | 10.32 | -16.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.09 | 14.00 % | |
| R2 | 13.50 | 9.22 % | ||
| R1 | 13.27 | 7.36 % | ||
| Current price | 12.36 | |||
| Support | S1 | 10.00 | -19.09% | |
| S2 | 9.78 | -20.87% | ||
| S3 | 9.63 | -22.09% |
300717 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 20, 2023 | Jun 20, 2023 | Jun 20, 2023 | ¥0.200 | 1.30% |
| 2 | Jun 20, 2022 | Jun 20, 2022 | Jun 20, 2022 | ¥0.0500 | 0.371% |
| 3 | Jun 25, 2021 | Jun 25, 2021 | Jun 25, 2021 | ¥0.100 | 0.655% |
| 4 | May 26, 2020 | May 26, 2020 | May 26, 2020 | ¥0.200 | 1.41% |
| 5 | Jun 13, 2019 | Jun 13, 2019 | Jun 13, 2019 | ¥0.0600 | 0.378% |
FAQ
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