Shenzhen Jdd Tech New Material Co Ltd Stock Forecast

Shenzhen Jdd Tech New Material Co Ltd stock downgraded from Buy Candidate to Sell Candidate after Tuesday trading session.
(Updated on Jun 25, 2024)

301538.SZ Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Shenzhen Jdd Tech New Material 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 ¥113.09 and ¥111.24. 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 22, 2024, and so far it has fallen -26.31%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Shenzhen Jdd Tech New Material Co Ltd stock

Shenzhen Jdd Tech New Material Co Ltd finds support from accumulated volume at ¥103.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 ¥9.38 between high and low, or 8.83%. For the last week, the stock has had daily average volatility of 13.45%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (301538.SZ) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Shenzhen Jdd Tech New Material Co Ltd Ordinary Shares - Class A to open at ¥109.79, and during the day (based on 14 day Average True Range), to move between ¥95.38 and ¥119.80, which gives a possible trading interval of +/-¥12.21 (+/-11.35%) up or down from last closing price. If Shenzhen Jdd Tech New Material Co Ltd Ordinary Shares - Class A takes out the full calculated possible swing range there will be an estimated 22.69% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥107.79 (0.19%) than the support at ¥103.00 (4.27%), 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 Shenzhen Jdd Tech New Material Co Ltd Ordinary Shares - Class A stock A Buy?

The Shenzhen Jdd Tech New Material Co Ltd stock holds several negative signals and despite the positive trend, we believe Shenzhen Jdd Tech New Material Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Sell candidate.

Current score: -3.963 Sell Candidate Downgraded

Predicted Opening Price for Shenzhen Jdd Tech New Material Co Ltd Ordinary Shares - Class A of Wednesday, June 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.