Jiangsu Expressway Company Limited Stock Forecast
Jiangsu Expressway Company Limited stock upgraded to Strong Buy Candidate.
(Updated on Jun 20, 2024)
The Jiangsu Expressway Company Limited stock price gained 2.32% on the last trading day (Thursday, 20th Jun 2024), rising from $12.07 to $12.35. During the last trading day the stock fluctuated 2.82% from a day low at $12.04 to a day high of $12.38. The price has risen in 7 of the last 10 days and is up by 4.75% 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, 344 thousand more shares were traded than the day before. In total, 10 million shares were bought and sold for approximately $127.25 million.
The stock lies in the upper part of a weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $12.38 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 2.81% during the next 3 months and, with a 90% probability hold a price between $11.58 and $12.73 at the end of this 3-month period.
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600377.SS Signals & Forecast
Mostly positive signals in the chart today. The Jiangsu Expressway Company Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $11.96 and $11.70. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 29, 2024, and so far it has risen 11.56%. 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.
Support, Risk & Stop-loss for Jiangsu Expressway Company Limited stock
Jiangsu Expressway Company Limited finds support from accumulated volume at $11.79 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.340 between high and low, or 2.82%. For the last week the stock has had daily average volatility of 2.84%.
Our recommended stop-loss: $11.90 (-3.68%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 42 days ago.)
Trading Expectations (600377.SS) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Jiangsu Expressway Company Limited to open at $12.26, and during the day (based on 14 day Average True Range), to move between $12.07 and $12.63, which gives a possible trading interval of +/-$0.284 (+/-2.30%) up or down from last closing price. If Jiangsu Expressway Company Limited takes out the full calculated possible swing range there will be an estimated 4.60% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $11.79, some $0.560 (4.53%) from the current price of $12.35, our system finds the risk reward attractive.
Is Jiangsu Expressway Company Limited stock A Buy?
Jiangsu Expressway Company Limited holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 6.251 Strong Buy Candidate Upgraded
Predicted Opening Price for Jiangsu Expressway Company Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $12.26 ( 0.756%) | $12.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600377.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.60 | 2.00% |
| R2 | 12.47 | 0.95% |
| R1 | 12.39 | 0.296% |
| Price | 12.35 | |
| S1 | 12.13 | -1.81% |
| S2 | 12.05 | -2.46% |
| S3 | 11.92 | -3.51% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 12.35 | |
| S1 | 11.79 | -4.53% |
| S2 | 11.75 | -4.86% |
| S3 | 11.33 | -8.26% |
600377 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 26, 2023 | Jul 26, 2023 | Jul 26, 2023 | $0.460 | 4.98% |
| 2 | Aug 05, 2022 | Aug 05, 2022 | Aug 05, 2022 | $0.460 | 6.13% |
| 3 | Jul 15, 2021 | Jul 15, 2021 | Jul 15, 2021 | $0.460 | 5.11% |
| 4 | Aug 21, 2020 | Aug 21, 2020 | Aug 21, 2020 | $0.460 | 4.76% |
| 5 | Jul 12, 2019 | Jul 12, 2019 | Jul 12, 2019 | $0.460 | 4.44% |
FAQ
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