Jl Mag Rare-earth Co., Ltd. Stock Forecast
Red day on Thursday for Jl Mag Rare-earth Co., Ltd.
(Updated on Jun 27, 2024)
The Jl Mag Rare-earth Co., Ltd. stock price fell by -1.90% on the last day (Thursday, 27th Jun 2024) from HK$6.33 to HK$6.21. During the last trading day the stock fluctuated 4.68% from a day low at HK$6.19 to a day high of HK$6.48. The price has fallen in 7 of the last 10 days and is down by -7.04% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -268 thousand shares and in total, 200 thousand shares were bought and sold for approximately HK$1.24 million.
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 HK$6.20 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -3.16% during the next 3 months and, with a 90% probability hold a price between HK$6.01 and HK$7.24 at the end of this 3-month period.
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6680.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Jl Mag Rare-earth 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 HK$6.38 and HK$6.87. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Jl Mag Rare-earth Co., Ltd. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.290 between high and low, or 4.68%. For the last week the stock has had daily average volatility of 3.80%.
Jl Mag Rare-earth Co., Ltd. is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: HK$5.80 (-6.60%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 20 which reduces the risk some. There is a buy signal from a pivot bottom found 27 days ago.)
Trading Expectations (6680.HK) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Jl Mag Rare-earth Co., Ltd. to open at HK$6.29, and during the day (based on 14 day Average True Range), to move between HK$6.00 and HK$6.42, which gives a possible trading interval of +/-HK$0.211 (+/-3.40%) up or down from last closing price. If Jl Mag Rare-earth Co., Ltd. takes out the full calculated possible swing range there will be an estimated 6.80% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ HK$6.85, some HK$0.640 (10.31%) from the current price of HK$6.21, our system finds the risk reward not very attractive.
Is Jl Mag Rare-earth Co., Ltd. stock A Buy?
Jl Mag Rare-earth Co., Ltd. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.393 Hold/Accumulate Unchanged
Predicted Opening Price for Jl Mag Rare-earth Co., Ltd. of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| HK$6.29 ( 1.34%) | HK$6.21 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6680.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.58 | 6.01% |
| R2 | 6.47 | 4.23% |
| R1 | 6.40 | 3.13% |
| Price | 6.21 | |
| S1 | 6.18 | -0.442% |
| S2 | 6.11 | -1.54% |
| S3 | 6.00 | -3.33% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.99 | 12.56% |
| R2 | 6.91 | 11.27% |
| R1 | 6.85 | 10.31% |
| Price | 6.21 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
6680 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 11, 2024 | Jun 11, 2024 | Aug 01, 2024 | HK$0.280 | 4.51% |
| 2 | Jun 26, 2023 | Jun 26, 2023 | Aug 21, 2023 | HK$0.285 | 2.68% |
| 3 | May 24, 2022 | May 24, 2022 | Jul 08, 2022 | HK$0.181 | 0.88% |
FAQ
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