JL Mag Rare-Earth Co Ltd Stock Forecast
JL Mag Rare-Earth Co Ltd stock upgraded to Hold/Accumulate.
(Updated on Jun 18, 2024)
The JL Mag Rare-Earth Co Ltd stock price gained 1.72% on the last trading day (Tuesday, 18th Jun 2024), rising from ¥13.98 to ¥14.22. During the last trading day the stock fluctuated 3.23% from a day low at ¥13.94 to a day high of ¥14.39. The price has risen in 6 of the last 10 days but is still down by -0.14% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 million more shares were traded than the day before. In total, 12 million shares were bought and sold for approximately ¥172.41 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -12.66% during the next 3 months and, with a 90% probability hold a price between ¥11.77 and ¥13.35 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
300748.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 3.49%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The JL Mag Rare-Earth Co Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ¥14.57. On a fall, the stock will find some support from the short-term average at ¥14.02. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for JL Mag Rare-Earth Co Ltd stock
JL Mag Rare-Earth Co Ltd finds support from accumulated volume at ¥14.21 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ¥0.450 (3.23%) between high and low. For the last week, the stock has had daily average volatility of 2.62%.
Our recommended stop-loss: ¥13.62 (-4.25%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 45 days ago.)
Trading Expectations (300748.SZ) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect JL Mag Rare-Earth Co Ltd to open at ¥14.18, and during the day (based on 14 day Average True Range), to move between ¥13.72 and ¥14.72, which gives a possible trading interval of +/-¥0.503 (+/-3.54%) up or down from last closing price. If JL Mag Rare-Earth Co Ltd takes out the full calculated possible swing range there will be an estimated 7.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥14.21 (0.07%) than the resistance at ¥16.02 (12.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is JL Mag Rare-Earth Co Ltd stock A Buy?
JL Mag Rare-Earth 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.430 Hold/Accumulate Upgraded
Predicted Opening Price for JL Mag Rare-Earth Co Ltd of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| ¥14.18 ( 0.258%) | ¥14.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300748.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.63 | 2.91% |
| R2 | 14.46 | 1.70% |
| R1 | 14.36 | 0.95% |
| Price | 14.22 | |
| S1 | 14.01 | -1.47% |
| S2 | 13.91 | -2.21% |
| S3 | 13.73 | -3.42% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.01 | 19.62% |
| R2 | 16.24 | 14.21% |
| R1 | 16.02 | 12.66% |
| Price | 14.22 | |
| S1 | 14.21 | -0.0703% |
| S2 | 14.12 | -0.703% |
| S3 | 13.74 | -3.38% |
300748 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 12, 2023 | Jul 12, 2023 | Jul 12, 2023 | ¥0.260 | 1.35% |
| 2 | Jun 07, 2022 | Jun 07, 2022 | Jun 07, 2022 | ¥0.250 | 1.23% |
| 3 | May 13, 2021 | May 13, 2021 | May 13, 2021 | ¥0.125 | 0.88% |
| 4 | May 15, 2020 | May 15, 2020 | May 15, 2020 | ¥0.0688 | 0.494% |
| 5 | Apr 15, 2019 | Apr 15, 2019 | Apr 15, 2019 | ¥0.0688 | 0.695% |
FAQ
Click here for our free guide on how to buy JL Mag Rare-Earth Co Ltd Stock.
