Shandong Jinjing Science and Technology Stock Forecast
Red day on Thursday for Shandong Jinjing Science and Technology
(Updated on Jun 20, 2024)
The Shandong Jinjing Science and Technology stock price fell by -3.07% on the last day (Thursday, 20th Jun 2024) from $6.19 to $6.00. During the last trading day the stock fluctuated 4.02% from a day low at $5.97 to a day high of $6.21. The price has been going up and down for this period, and there has been a -6.25% loss for the last 2 weeks. Volume has increased on the last day by 6 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 14 million shares were bought and sold for approximately $81.41 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $5.94 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 6.49% during the next 3 months and, with a 90% probability hold a price between $6.33 and $7.30 at the end of this 3-month period.
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600586.SS Signals & Forecast
There are few to no technical positive signals at the moment. The Shandong Jinjing Science and Technology 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 $6.17 and $6.37. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 30, 2024, and so far it has fallen -10.18%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A sell signal from a double top formation was found on Thursday, May 30, 2024 with a target of $6.20. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Shandong Jinjing Science and Technology stock
Shandong Jinjing Science and Technology finds support from accumulated volume at $5.98 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 $0.240 (4.02%) between high and low. For the last week, the stock has had daily average volatility of 2.60%.
Shandong Jinjing Science and Technology is oversold on RSI14 (19). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (600586.SS) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Shandong Jinjing Science and Technology Stock Co., Ltd. to open at $6.06, and during the day (based on 14 day Average True Range), to move between $5.83 and $6.17, which gives a possible trading interval of +/-$0.171 (+/-2.85%) up or down from last closing price. If Shandong Jinjing Science and Technology Stock Co., Ltd. takes out the full calculated possible swing range there will be an estimated 5.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.98 (0.33%) than the resistance at $6.43 (7.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Shandong Jinjing Science and Technology Stock Co., Ltd. stock A Buy?
The Shandong Jinjing Science and Technology stock holds several negative signals and despite the positive trend, we believe Shandong Jinjing Science and Technology will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.810 Sell Candidate Unchanged
Predicted Opening Price for Shandong Jinjing Science and Technology Stock Co., Ltd. of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $6.06 ( 1.00%) | $6.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600586.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.30 | 5.00% |
| R2 | 6.21 | 3.47% |
| R1 | 6.15 | 2.53% |
| Price | 6.00 | |
| S1 | 5.97 | -0.528% |
| S2 | 5.91 | -1.47% |
| S3 | 5.82 | -3.00% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.51 | 8.50% |
| R2 | 6.44 | 7.33% |
| R1 | 6.43 | 7.17% |
| Price | 6.00 | |
| S1 | 5.98 | -0.333% |
| S2 | 5.96 | -0.667% |
| S3 | 5.90 | -1.67% |
600586 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 05, 2024 | Jun 05, 2024 | Jun 05, 2024 | $0.100 | 1.56% |
| 2 | Jun 06, 2023 | Jun 06, 2023 | Jun 06, 2023 | $0.0300 | 0.392% |
| 3 | Jul 06, 2022 | Jul 06, 2022 | Jul 06, 2022 | $0.281 | 4.09% |
| 4 | Jun 29, 2021 | Jun 29, 2021 | Jun 29, 2021 | $0.0300 | 0.318% |
| 5 | Jul 15, 2020 | Jul 15, 2020 | Jul 15, 2020 | $0.0300 | 0.792% |
FAQ
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