JiaXing Gas Group Co., Ltd. Stock Forecast

Stronger technical forecast for JiaXing Gas Group Co., Ltd. stock price after Thursday trading.
(Updated on Jun 27, 2024)

9908.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has fallen 0%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The JiaXing Gas Group Co., Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$7.71 and HK$7.58. A break-up above any of these levels will issue buy signals. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for JiaXing Gas Group Co., Ltd. stock

JiaXing Gas Group Co., Ltd. finds support from accumulated volume at HK$7.52 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved HK$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.84%

Our recommended stop-loss: HK$7.12 (-6.02%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)

Trading Expectations (9908.HK) For The Upcoming Trading Day Of Friday 28th

For the upcoming trading day on Friday, 28th we expect JiaXing Gas Group Co., Ltd. to open at HK$7.58, and during the day (based on 14 day Average True Range), to move between HK$7.46 and HK$7.70, which gives a possible trading interval of +/-HK$0.121 (+/-1.60%) up or down from last closing price. If JiaXing Gas Group Co., Ltd. takes out the full calculated possible swing range there will be an estimated 3.20% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at HK$7.59 (0.13%) than the support at HK$7.52 (0.79%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is JiaXing Gas Group Co., Ltd. stock A Buy?

JiaXing Gas 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: 0.812 Hold/Accumulate Upgraded

Predicted Opening Price for JiaXing Gas Group Co., Ltd. of Friday, June 28, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.