Zhejiang Jianfeng Group Co., Ltd. Stock Forecast
Zhejiang Jianfeng Group Co., Ltd. stock downgraded to Sell Candidate
(Updated on Jun 28, 2024)
No changes to the price of Zhejiang Jianfeng Group Co., Ltd. stock on the last trading day (Friday, 28th Jun 2024). During the last trading day the stock fluctuated 1.89% from a day low at $7.92 to a day high of $8.07. The price has fallen in 5 of the last 10 days and is down by -4.56% for this period.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $7.85 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -9.89% during the next 3 months and, with a 90% probability hold a price between $7.08 and $7.96 at the end of this 3-month period.
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600668.SS Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 0.379%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Zhejiang Jianfeng Group 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 $8.01 and $8.62. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.
Support, Risk & Stop-loss for Zhejiang Jianfeng Group Co., Ltd. stock
Zhejiang Jianfeng Group Co., Ltd. finds support from accumulated volume at $7.92 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 $0.150 between high and low, or 1.89%. For the last week, the stock has had daily average volatility of 2.33%.
Zhejiang Jianfeng Group Co., Ltd. is oversold on RSI14 (23). 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 (600668.SS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Zhejiang Jianfeng Group Co., Ltd. to open at $7.98, and during the day (based on 14 day Average True Range), to move between $7.76 and $8.14, which gives a possible trading interval of +/-$0.185 (+/-2.33%) up or down from last closing price. If Zhejiang Jianfeng Group Co., Ltd. takes out the full calculated possible swing range there will be an estimated 4.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.92 (0.38%) than the resistance at $9.03 (13.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Zhejiang Jianfeng Group Co., Ltd. stock A Buy?
Zhejiang Jianfeng Group Co., Ltd. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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: -2.236 Sell Candidate Downgraded
Predicted Opening Price for Zhejiang Jianfeng Group Co., Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $7.98 ( 0.377%) | $7.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600668.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.13 | 2.26% |
| R2 | 8.07 | 1.54% |
| R1 | 8.04 | 1.10% |
| Price | 7.95 | |
| S1 | 7.92 | -0.343% |
| S2 | 7.89 | -0.789% |
| S3 | 7.83 | -1.51% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 9.27 | 16.60% |
| R2 | 9.13 | 14.84% |
| R1 | 9.03 | 13.58% |
| Price | 7.95 | |
| S1 | 7.92 | -0.377% |
| S2 | 0 | - |
| S3 | 0 | - |
600668 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 12, 2023 | Jul 12, 2023 | Jul 12, 2023 | $0.150 | 1.32% |
| 2 | Jul 13, 2022 | Jul 13, 2022 | Jul 13, 2022 | $0.500 | 3.50% |
| 3 | Jul 13, 2021 | Jul 13, 2021 | Jul 13, 2021 | $0.400 | 3.44% |
| 4 | Jul 16, 2020 | Jul 16, 2020 | Jul 16, 2020 | $0.300 | 1.97% |
| 5 | Jul 18, 2019 | Jul 18, 2019 | Jul 18, 2019 | $0.300 | 2.43% |
FAQ
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