Zhejiang Jihua Group Co., Ltd. Stock Forecast
Zhejiang Jihua Group Co., Ltd. stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Jun 26, 2024)
The Zhejiang Jihua Group Co., Ltd. stock price gained 4.16% on the last trading day (Wednesday, 26th Jun 2024), rising from $3.61 to $3.76. During the last trading day the stock fluctuated 5.62% from a day low at $3.56 to a day high of $3.76. The price has fallen in 6 of the last 10 days and is down by -3.34% for this period. Volume fell on the last day by -487 thousand shares and in total, 5 million shares were bought and sold for approximately $19.64 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 lies in the lower part of a very 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 $3.62 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 3.43% during the next 3 months and, with a 90% probability hold a price between $3.74 and $4.96 at the end of this 3-month period.
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603980.SS Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 4.16%. 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 Zhejiang Jihua Group Co., Ltd. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $4.07. On a fall, the stock will find some support from the short-term average at $3.74. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Zhejiang Jihua Group Co., Ltd. stock
Zhejiang Jihua Group Co., Ltd. finds support from accumulated volume at $3.71 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 $0.200 between high and low, or 5.62%. For the last week, the stock has had daily average volatility of 3.91%.
Our recommended stop-loss: $3.59 (-4.40%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 34 days ago.)
Trading Expectations (603980.SS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Zhejiang Jihua Group Co., Ltd. to open at $3.69, and during the day (based on 14 day Average True Range), to move between $3.61 and $3.91, which gives a possible trading interval of +/-$0.150 (+/-3.99%) up or down from last closing price. If Zhejiang Jihua Group Co., Ltd. takes out the full calculated possible swing range there will be an estimated 7.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.71 (1.33%) than the resistance at $3.96 (5.32%), 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 Jihua Group Co., Ltd. stock A Buy?
Zhejiang Jihua Group Co., Ltd. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.139 Hold/Accumulate Upgraded
Predicted Opening Price for Zhejiang Jihua Group Co., Ltd. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $3.69 ( 1.77%) | $3.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 603980.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.89 | 3.55% |
| R2 | 3.82 | 1.51% |
| R1 | 3.77 | 0.259% |
| Price | 3.76 | |
| S1 | 3.62 | -3.80% |
| S2 | 3.57 | -5.06% |
| S3 | 3.49 | -7.09% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.69 | 24.73% |
| R2 | 4.26 | 13.30% |
| R1 | 3.96 | 5.32% |
| Price | 3.76 | |
| S1 | 3.71 | -1.33% |
| S2 | 3.61 | -3.99% |
| S3 | 3.39 | -9.84% |
603980 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 25, 2024 | Jun 25, 2024 | Jun 25, 2024 | $0.0700 | 1.94% |
| 2 | Jun 16, 2023 | Jun 16, 2023 | Jun 16, 2023 | $0.0800 | 1.83% |
| 3 | Jun 01, 2022 | Jun 01, 2022 | Jun 01, 2022 | $0.150 | 2.95% |
| 4 | Jun 04, 2021 | Jun 04, 2021 | Jun 04, 2021 | $0.165 | 2.46% |
| 5 | Jun 30, 2020 | Jun 30, 2020 | Jun 30, 2020 | $0.450 | 6.46% |
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