Shenzhen Jdd Tech New Material Co Ltd Stock Forecast

Volatile ride for Shenzhen Jdd Tech New Material Co Ltd stock price on Friday moving between ¥99.28 and ¥115.58
(Updated on Jun 28, 2024)

301538.SZ Signals & Forecast

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 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. 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 ¥108.87 and ¥112.98. 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 -29.95%. Further fall is indicated until a new bottom pivot has been found.

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

On the downside, the stock finds support just below today's level from accumulated volume at ¥89.27 and ¥80.79. 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, Shenzhen Jdd Tech New Material Co Ltd finds support just below today's level at ¥89.27. If this is broken, then the next support from accumulated volume will be at ¥80.79 and ¥79.54.

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 ¥16.30 between high and low, or 16.42%. For the last week, the stock has had daily average volatility of 11.85%.

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 Monday 1st

For the upcoming trading day on Monday, 1st we expect Shenzhen Jdd Tech New Material Co Ltd Ordinary Shares - Class A to open at ¥105.71, and during the day (based on 14 day Average True Range), to move between ¥89.63 and ¥114.93, which gives a possible trading interval of +/-¥12.65 (+/-12.37%) 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 24.74% 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 (5.39%) than the support at ¥89.27 (12.72%), 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 Hold/Accumulate to a Sell candidate.

Current score: -1.956 Sell Candidate Downgraded

Predicted Opening Price for Shenzhen Jdd Tech New Material Co Ltd Ordinary Shares - Class A of Monday, July 1, 2024

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