Jiayin Group Inc. Stock Forecast
Stronger technical forecast for Jiayin Group Inc. stock price after Friday trading.
(Updated on May 24, 2024)
The Jiayin Group Inc. stock price fell by -0.459% on the last day (Friday, 24th May 2024) from $6.53 to $6.50. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 3.10% from a day low at $6.45 to a day high of $6.65. The price has fallen in 7 of the last 10 days and is down by -4.41% for this period. Volume has increased on the last day by 2 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 30 thousand shares were bought and sold for approximately $196.44 thousand.
The stock lies in the middle of a very wide and weak 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 6.75% during the next 3 months and, with a 90% probability hold a price between $6.35 and $8.36 at the end of this 3-month period.
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JFIN Signals & Forecast
There are few to no technical positive signals at the moment. The Jiayin Group Inc. 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 $6.66 and $6.59. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -13.10%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Jiayin Group Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Jiayin Group Inc. stock
Jiayin Group Inc. finds support from accumulated volume at $6.39 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 $0.200 between high and low, or 3.10%. For the last week, the stock has had daily average volatility of 3.88%.
Our recommended stop-loss: $6.16 (-5.18%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 75 days ago.)
Trading Expectations (JFIN) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Jiayin Group Inc. to open at $6.53, and during the day (based on 14 day Average True Range), to move between $6.24 and $6.76, which gives a possible trading interval of +/-$0.261 (+/-4.01%) up or down from last closing price. If Jiayin Group Inc. takes out the full calculated possible swing range there will be an estimated 8.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.52 (0.31%) than the support at $6.39 (1.69%), 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 Jiayin Group Inc. stock A Buy?
Jiayin Group Inc. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.463 Hold/Accumulate Upgraded
Predicted Opening Price for Jiayin Group Inc. of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| $6.53 ( 0.513%) | $6.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JFIN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.73 | 3.59 % | |
| R2 | 6.66 | 2.41 % | ||
| R1 | 6.61 | 1.69 % | ||
| Current price: | 6.50 | |||
| Support | S1 | 6.46 | -0.663 % | |
| S2 | 6.41 | -1.39 % | ||
| S3 | 6.33 | -2.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.92 | 6.46 % | |
| R2 | 6.76 | 4.00 % | ||
| R1 | 6.52 | 0.308 % | ||
| Current price | 6.50 | |||
| Support | S1 | 6.39 | -1.69% | |
| S2 | 6.20 | -4.62% | ||
| S3 | 5.98 | -8.00% |
JFIN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 08, 2024 | Jan 18, 2024 | Jan 31, 2024 | $0.380 | 6.95% |
| 2 | Jul 10, 2023 | Jul 27, 2023 | Aug 16, 2023 | $0.400 | 7.26% |
FAQ
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