Jinan Shengquan Group Share Holding Co., Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Jinan Shengquan Group Share Holding Co., stock price up 0.528% on Friday
(Updated on Jun 21, 2024)
The Jinan Shengquan Group Share Holding Co., stock price gained 0.528% on the last trading day (Friday, 21st Jun 2024), rising from $20.83 to $20.94. During the last trading day the stock fluctuated 2.04% from a day low at $20.60 to a day high of $21.02. The price has risen in 7 of the last 10 days and is up by 5.76% over the past 2 weeks. Volume fell on the last day by -3 million shares and in total, 5 million shares were bought and sold for approximately $112.26 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 middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 10.23% during the next 3 months and, with a 90% probability hold a price between $21.09 and $24.78 at the end of this 3-month period.
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605589.SS Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -1.55%. 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). The Jinan Shengquan Group Share Holding Co., 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 $20.93 and $20.17. A breakdown below any of these levels will issue sell signals. 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.
Support, Risk & Stop-loss for Jinan Shengquan Group Share Holding Co., stock
Jinan Shengquan Group Share Holding Co., finds support from accumulated volume at $20.82 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 $0.420 between high and low, or 2.04%. For the last week, the stock has had daily average volatility of 2.18%.
Our recommended stop-loss: $20.14 (-3.80%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (605589.SS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Jinan Shengquan Group Share Holding Co., Ltd. to open at $20.85, and during the day (based on 14 day Average True Range), to move between $20.28 and $21.60, which gives a possible trading interval of +/-$0.663 (+/-3.16%) up or down from last closing price. If Jinan Shengquan Group Share Holding Co., Ltd. takes out the full calculated possible swing range there will be an estimated 6.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $20.82 (0.57%) than the resistance at $21.27 (1.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Jinan Shengquan Group Share Holding Co., Ltd. stock A Buy?
Jinan Shengquan Group Share Holding Co., 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.
Current score: 0.766 Hold/Accumulate Unchanged
Predicted Opening Price for Jinan Shengquan Group Share Holding Co., Ltd. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $20.85 ( 0.414%) | $20.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 605589.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.27 | 1.59% |
| R2 | 21.11 | 0.83% |
| R1 | 21.01 | 0.352% |
| Price | 20.94 | |
| S1 | 20.69 | -1.18% |
| S2 | 20.59 | -1.65% |
| S3 | 20.43 | -2.42% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.02 | 5.16% |
| R2 | 21.37 | 2.05% |
| R1 | 21.27 | 1.58% |
| Price | 20.94 | |
| S1 | 20.82 | -0.573% |
| S2 | 20.02 | -4.39% |
| S3 | 19.80 | -5.44% |
605589 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2023 | May 31, 2023 | May 31, 2023 | $0.200 | 1.04% |
| 2 | Aug 15, 2022 | Aug 15, 2022 | Aug 15, 2022 | $0.200 | 0.91% |
| 3 | Sep 24, 2021 | Sep 24, 2021 | Sep 24, 2021 | $0.250 | 0.752% |
FAQ
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