Jardine Cycle & Carriage Limited Stock Forecast
Jardine Cycle & Carriage Limited stock upgraded from Strong Sell Candidate to Sell Candidate after Friday trading session.
(Updated on Jun 28, 2024)
The Jardine Cycle & Carriage Limited stock price fell by -1.59% on the last day (Friday, 28th Jun 2024) from S$27.03 to S$26.60. During the last trading day the stock fluctuated 2.23% from a day low at S$26.51 to a day high of S$27.10. The price has risen in 6 of the last 10 days but is still down by -1.41% 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 -438 thousand shares and in total, 884 thousand shares were bought and sold for approximately S$23.51 million.
The stock lies in the lower part of a 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 S$26.39 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 8.85% during the next 3 months and, with a 90% probability hold a price between S$28.73 and S$31.79 at the end of this 3-month period.
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C07.SI Signals & Forecast
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 Jardine Cycle & Carriage Limited 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 S$27.83 and S$27.18. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 21, 2024, and so far it has fallen -8.28%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Jardine Cycle & Carriage Limited stock
Jardine Cycle & Carriage Limited finds support from accumulated volume at S$26.50 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 S$0.590 between high and low, or 2.23%. For the last week, the stock has had daily average volatility of 2.58%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (C07.SI) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Jardine Cycle & Carriage Limited to open at S$26.74, and during the day (based on 14 day Average True Range), to move between S$25.98 and S$27.22, which gives a possible trading interval of +/-S$0.625 (+/-2.35%) up or down from last closing price. If Jardine Cycle & Carriage Limited takes out the full calculated possible swing range there will be an estimated 4.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at S$26.50 (0.38%) than the resistance at S$26.98 (1.43%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Jardine Cycle & Carriage Limited stock A Buy?
The Jardine Cycle & Carriage Limited stock holds several negative signals and despite the positive trend, we believe Jardine Cycle & Carriage Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.280 Sell Candidate Upgraded
Predicted Opening Price for Jardine Cycle & Carriage Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| S$26.74 ( 0.514%) | S$26.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for C07.SI
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 27.33 | 2.73% |
| R2 | 27.10 | 1.88% |
| R1 | 26.96 | 1.36% |
| Price | 26.60 | |
| S1 | 26.51 | -0.334% |
| S2 | 26.37 | -0.86% |
| S3 | 26.15 | -1.70% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 27.35 | 2.82% |
| R2 | 27.16 | 2.11% |
| R1 | 26.98 | 1.43% |
| Price | 26.60 | |
| S1 | 26.50 | -0.376% |
| S2 | 26.43 | -0.639% |
| S3 | 25.74 | -3.23% |
C07 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 29, 2024 | May 29, 2024 | Jun 18, 2024 | S$1.21 | 4.29% |
| 2 | Sep 05, 2023 | Sep 05, 2023 | Sep 05, 2023 | S$0.280 | 0.84% |
| 3 | May 29, 2023 | May 29, 2023 | May 29, 2023 | S$0.83 | 2.53% |
| 4 | Aug 29, 2022 | Aug 29, 2022 | Aug 29, 2022 | S$0.280 | 0.85% |
| 5 | May 30, 2022 | May 30, 2022 | May 30, 2022 | S$0.620 | 2.15% |
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