Zhejiang Juhua Co., Ltd. Stock Forecast
Zhejiang Juhua Co., Ltd. stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Jun 28, 2024)
The Zhejiang Juhua Co., Ltd. stock price gained 3.08% on the last trading day (Friday, 28th Jun 2024), rising from $23.41 to $24.13. During the last trading day the stock fluctuated 3.07% from a day low at $23.46 to a day high of $24.18. The price has risen in 6 of the last 10 days and is up by 6.68% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 365 thousand more shares were traded than the day before. In total, 26 million shares were bought and sold for approximately $618.75 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Zhejiang Juhua Co., Ltd. stock with a 90% probability to be traded between $22.00 and $26.27 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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600160.SS Signals & Forecast
The Zhejiang Juhua Co., Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $23.24 and $23.76. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, June 26, 2024, and so far it has fallen -0.495%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Zhejiang Juhua Co., Ltd. stock
Zhejiang Juhua Co., Ltd. finds support from accumulated volume at $23.65 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 $0.720 between high and low, or 3.07%. For the last week, the stock has had daily average volatility of 4.11%.
Our recommended stop-loss: $23.18 (-3.94%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (600160.SS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Zhejiang Juhua Co., Ltd. to open at $23.92, and during the day (based on 14 day Average True Range), to move between $23.29 and $24.97, which gives a possible trading interval of +/-$0.84 (+/-3.46%) up or down from last closing price. If Zhejiang Juhua Co., Ltd. takes out the full calculated possible swing range there will be an estimated 6.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $24.25 (0.50%) than the support at $23.65 (1.99%), 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 Zhejiang Juhua Co., Ltd. stock A Buy?
Zhejiang Juhua 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. 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: -1.000 Sell Candidate Downgraded
Predicted Opening Price for Zhejiang Juhua Co., Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $23.92 ( 0.86%) | $24.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600160.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.64 | 2.13% |
| R2 | 24.37 | 0.99% |
| R1 | 24.20 | 0.283% |
| Price | 24.13 | |
| S1 | 23.65 | -2.00% |
| S2 | 23.48 | -2.70% |
| S3 | 23.20 | -3.84% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.24 | 4.60% |
| R2 | 24.98 | 3.52% |
| R1 | 24.25 | 0.497% |
| Price | 24.13 | |
| S1 | 23.65 | -1.99% |
| S2 | 23.57 | -2.32% |
| S3 | 23.13 | -4.14% |
600160 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 05, 2024 | Jun 05, 2024 | Jun 05, 2024 | $0.110 | 0.466% |
| 2 | Jul 13, 2023 | Jul 13, 2023 | Jul 13, 2023 | $0.270 | 1.87% |
| 3 | Jun 09, 2022 | Jun 09, 2022 | Jun 09, 2022 | $0.130 | 1.09% |
| 4 | Jun 16, 2021 | Jun 16, 2021 | Jun 16, 2021 | $0.100 | 1.13% |
| 5 | Jun 12, 2020 | Jun 12, 2020 | Jun 12, 2020 | $0.120 | 1.86% |
FAQ
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