JDM JingDaMachine(Ningbo)Co.Ltd Stock Forecast
JDM JingDaMachine(Ningbo)Co.Ltd stock downgraded from Sell Candidate to Strong Sell Candidate after Friday trading session.
(Updated on Jun 21, 2024)
The JDM JingDaMachine(Ningbo)Co.Ltd stock price gained 0.663% on the last trading day (Friday, 21st Jun 2024), rising from $7.54 to $7.59. During the last trading day the stock fluctuated 2.41% from a day low at $7.46 to a day high of $7.64. The price has risen in 6 of the last 10 days and is up by 4.83% over the past 2 weeks. Volume fell on the last day by -563 thousand shares and in total, 3 million shares were bought and sold for approximately $26.25 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 JDM JingDaMachine(Ningbo)Co.Ltd stock with a 90% probability to be traded between $6.73 and $8.33 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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603088.SS Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 4.83%. 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 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 JDM JingDaMachine(Ningbo)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 $7.64 and $7.95. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for JDM JingDaMachine(Ningbo)Co.Ltd stock
JDM JingDaMachine(Ningbo)Co.Ltd finds support from accumulated volume at $7.47 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 $0.180 between high and low, or 2.41%. For the last week, the stock has had daily average volatility of 2.42%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (603088.SS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect JDM JingDaMachine(Ningbo)Co.Ltd to open at $7.56, and during the day (based on 14 day Average True Range), to move between $7.37 and $7.81, which gives a possible trading interval of +/-$0.223 (+/-2.94%) up or down from last closing price. If JDM JingDaMachine(Ningbo)Co.Ltd takes out the full calculated possible swing range there will be an estimated 5.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.63 (0.53%) than the support at $7.47 (1.58%), 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 JDM JingDaMachine(Ningbo)Co.Ltd stock A Buy?
JDM JingDaMachine(Ningbo)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 Sell to a Strong Sell candidate.
Current score: -5.499 Strong Sell Candidate Downgraded
Predicted Opening Price for JDM JingDaMachine(Ningbo)Co.Ltd of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $7.56 ( 0.351%) | $7.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 603088.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.74 | 2.02% |
| R2 | 7.67 | 1.11% |
| R1 | 7.63 | 0.555% |
| Price | 7.59 | |
| S1 | 7.49 | -1.26% |
| S2 | 7.45 | -1.82% |
| S3 | 7.38 | -2.72% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.28 | 9.09% |
| R2 | 7.82 | 3.03% |
| R1 | 7.63 | 0.527% |
| Price | 7.59 | |
| S1 | 7.47 | -1.58% |
| S2 | 7.23 | -4.74% |
| S3 | 6.84 | -9.88% |
603088 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2024 | May 31, 2024 | May 31, 2024 | $0.290 | 3.73% |
| 2 | May 31, 2023 | May 31, 2023 | May 31, 2023 | $0.220 | 2.79% |
| 3 | May 31, 2022 | May 31, 2022 | May 31, 2022 | $0.180 | 2.76% |
| 4 | Jun 02, 2021 | Jun 02, 2021 | Jun 02, 2021 | $0.272 | 6.18% |
| 5 | Jun 22, 2020 | Jun 22, 2020 | Jun 22, 2020 | $0.131 | 3.02% |
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