JinGuan Electric Co., Ltd. Stock Forecast
JinGuan Electric Co., Ltd. stock upgraded from Sell Candidate to Buy Candidate after Friday trading session.
(Updated on Jun 28, 2024)
The JinGuan Electric Co., Ltd. stock price gained 4.95% on the last trading day (Friday, 28th Jun 2024), rising from $13.32 to $13.98. During the last trading day the stock fluctuated 8.06% from a day low at $13.27 to a day high of $14.34. The price has fallen in 6 of the last 10 days and is down by -1.76% for this period. 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, 6 million shares were bought and sold for approximately $83.49 million.
The stock lies in the middle of a very 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 14.53% during the next 3 months and, with a 90% probability hold a price between $13.84 and $17.36 at the end of this 3-month period.
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688517.SS Signals & Forecast
Mostly positive signals in the chart today. The JinGuan Electric Co., Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $13.46 and $13.53. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 8.62%. 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 JinGuan Electric Co., Ltd. stock
JinGuan Electric Co., Ltd. finds support from accumulated volume at $13.96 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 $1.07 between high and low, or 8.06%. For the last week, the stock has had daily average volatility of 5.60%.
Our recommended stop-loss: $13.43 (-3.96%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (688517.SS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect JinGuan Electric Co., Ltd. to open at $13.86, and during the day (based on 14 day Average True Range), to move between $13.22 and $14.74, which gives a possible trading interval of +/-$0.762 (+/-5.45%) up or down from last closing price. If JinGuan Electric Co., Ltd. takes out the full calculated possible swing range there will be an estimated 10.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $13.96 (0.14%) than the resistance at $14.04 (0.43%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is JinGuan Electric Co., Ltd. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for JinGuan Electric Co., Ltd. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.027 Buy Candidate Upgraded
Predicted Opening Price for JinGuan Electric Co., Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $13.86 ( 0.83%) | $13.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 688517.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.93 | 6.82% |
| R2 | 14.52 | 3.90% |
| R1 | 14.27 | 2.09% |
| Price | 13.98 | |
| S1 | 13.45 | -3.76% |
| S2 | 13.20 | -5.56% |
| S3 | 12.79 | -8.49% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.44 | 3.29% |
| R2 | 14.23 | 1.79% |
| R1 | 14.04 | 0.429% |
| Price | 13.98 | |
| S1 | 13.96 | -0.143% |
| S2 | 13.85 | -0.93% |
| S3 | 12.60 | -9.87% |
688517 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 06, 2024 | Jun 06, 2024 | Jun 06, 2024 | $0.500 | 4.22% |
| 2 | Jun 14, 2023 | Jun 14, 2023 | Jun 14, 2023 | $0.200 | 0.90% |
| 3 | Jun 01, 2022 | Jun 01, 2022 | Jun 01, 2022 | $0.420 | 3.68% |
FAQ
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