Zhejiang Jiecang Linear Motion Stock Forecast
Green day on Friday for Zhejiang Jiecang Linear Motion
(Updated on Jun 28, 2024)
The Zhejiang Jiecang Linear Motion stock price gained 2.88% on the last trading day (Friday, 28th Jun 2024), rising from $19.81 to $20.38. During the last trading day the stock fluctuated 6.38% from a day low at $19.60 to a day high of $20.85. The price has risen in 7 of the last 10 days and is up by 7.04% 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, 2 million more shares were traded than the day before. In total, 11 million shares were bought and sold for approximately $228.11 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.24% during the next 3 months and, with a 90% probability hold a price between $17.04 and $20.37 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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603583.SS Signals & Forecast
Mostly positive signals in the chart today. The Zhejiang Jiecang Linear Motion 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 $19.84 and $19.70. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 11.49%. 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 Zhejiang Jiecang Linear Motion stock
Zhejiang Jiecang Linear Motion finds support from accumulated volume at $20.08 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 $1.25 between high and low, or 6.38%. For the last week, the stock has had daily average volatility of 3.91%.
Our recommended stop-loss: $19.68 (-3.44%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from a pivot bottom found 44 days ago.)
Trading Expectations (603583.SS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Zhejiang Jiecang Linear Motion Technology Co.,Ltd. to open at $20.28, and during the day (based on 14 day Average True Range), to move between $19.71 and $21.05, which gives a possible trading interval of +/-$0.669 (+/-3.28%) up or down from last closing price. If Zhejiang Jiecang Linear Motion Technology Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 6.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $20.08 (1.47%) than the resistance at $21.67 (6.33%), 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 Jiecang Linear Motion Technology Co.,Ltd. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 3.644 Buy Candidate Unchanged
Predicted Opening Price for Zhejiang Jiecang Linear Motion Technology Co.,Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $20.28 ( 0.507%) | $20.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 603583.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.53 | 5.63% |
| R2 | 21.05 | 3.28% |
| R1 | 20.75 | 1.84% |
| Price | 20.38 | |
| S1 | 19.80 | -2.85% |
| S2 | 19.50 | -4.30% |
| S3 | 19.03 | -6.64% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.12 | 8.54% |
| R2 | 21.70 | 6.48% |
| R1 | 21.67 | 6.33% |
| Price | 20.38 | |
| S1 | 20.08 | -1.47% |
| S2 | 19.53 | -4.17% |
| S3 | 19.35 | -5.05% |
603583 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 06, 2024 | Jun 06, 2024 | Jun 06, 2024 | $0.170 | 0.93% |
| 2 | Jul 06, 2023 | Jul 06, 2023 | Jul 06, 2023 | $0.260 | 1.22% |
| 3 | Jul 04, 2022 | Jul 04, 2022 | Jul 04, 2022 | $0.220 | 0.653% |
| 4 | Jun 07, 2021 | Jun 07, 2021 | Jun 07, 2021 | $0.286 | 0.587% |
| 5 | Jul 10, 2020 | Jul 10, 2020 | Jul 10, 2020 | $0.357 | 0.92% |
FAQ
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