Chijet Motor Company, Inc. Stock Forecast

Big movements in Chijet Motor Company, Inc. stock price on Friday moving 18.32% between high and low
(Updated on Jun 21, 2024)

CJET Signals & Forecast

The Chijet Motor Company, Inc. 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 $0.360 and $0.382. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 67.07%. Further rise is indicated until a new top pivot has been found. Chijet Motor Company, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Chijet Motor Company, Inc. stock

Chijet Motor Company, Inc. finds support from accumulated volume at $0.410 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0678 between high and low, or 18.32%. For the last week, the stock has had daily average volatility of 19.74%.

Our recommended stop-loss: $0.399 (-4.06%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 66 days ago.)

Trading Expectations (CJET) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect Chijet Motor Company, Inc. to open at $0.408, and during the day (based on 14 day Average True Range), to move between $0.346 and $0.486, which gives a possible trading interval of +/-$0.0699 (+/-16.81%) up or down from last closing price. If Chijet Motor Company, Inc. takes out the full calculated possible swing range there will be an estimated 33.62% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.410 (1.49%) than the resistance at $0.450 (8.05%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Chijet Motor Company, Inc. stock A Buy?

Chijet Motor Company, Inc. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: -0.058 Hold/Accumulate Downgraded

Predicted Opening Price for Chijet Motor Company, Inc. of Monday, June 24, 2024

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