Jinhui Shipping & Transportation Ltd Stock Forecast
Jinhui Shipping & Transportation Ltd stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Jun 14, 2024)
The Jinhui Shipping & Transportation Ltd stock price gained 1.22% on the last trading day (Friday, 14th Jun 2024), rising from kr6.58 to kr6.66. During the last trading day the stock fluctuated 7.69% from a day low at kr6.50 to a day high of kr7.00. The price has fallen in 6 of the last 10 days and is down by -10% for this period. Volume fell on the last day by -37 thousand shares and in total, 53 thousand shares were bought and sold for approximately kr351.82 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at kr6.49 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 21.52% during the next 3 months and, with a 90% probability hold a price between kr7.89 and kr9.28 at the end of this 3-month period.
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JIN.OL Signals & Forecast
A sell signal was issued from a pivot top point on Friday, May 31, 2024, and so far it has fallen -10.00%. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Jinhui Shipping & Transportation Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately kr6.87. On a fall, the stock will find some support from the long-term average at approximately kr6.48. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. The stock had a Golden Star Signal on Tuesday, April 30, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Tuesday, April 30, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Jinhui Shipping & Transportation Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at kr6.12 and kr5.80. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Jinhui Shipping & Transportation Ltd finds support just below today's level at kr6.12. If this is broken, then the next support from accumulated volume will be at kr5.80 and kr5.70.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved kr0.500 between high and low, or 7.69%. For the last week the stock has had daily average volatility of 7.28%.
Our recommended stop-loss: kr6.35 (-4.64%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (JIN.OL) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Jinhui Shipping & Transportation Ltd to open at kr6.72, and during the day (based on 14 day Average True Range), to move between kr6.24 and kr7.08, which gives a possible trading interval of +/-kr0.418 (+/-6.27%) up or down from last closing price. If Jinhui Shipping & Transportation Ltd takes out the full calculated possible swing range there will be an estimated 12.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr6.76 (1.50%) than the support at kr6.12 (8.11%), 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 Jinhui Shipping & Transportation Ltd stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.420 Buy Candidate Upgraded
Predicted Opening Price for Jinhui Shipping & Transportation Ltd of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| kr6.72 ( 0.90%) | kr6.66 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JIN.OL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.22 | 8.41% |
| R2 | 7.03 | 5.54% |
| R1 | 6.91 | 3.77% |
| Price | 6.66 | |
| S1 | 6.53 | -1.97% |
| S2 | 6.41 | -3.74% |
| S3 | 6.22 | -6.61% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.40 | 11.11% |
| R2 | 7.36 | 10.51% |
| R1 | 6.76 | 1.50% |
| Price | 6.66 | |
| S1 | 6.12 | -8.11% |
| S2 | 5.80 | -12.91% |
| S3 | 5.70 | -14.41% |
JIN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 25, 2023 | May 25, 2023 | May 25, 2023 | kr0.0400 | 0.559% |
| 2 | Aug 30, 2022 | Aug 30, 2022 | Aug 30, 2022 | kr0.0300 | 0.347% |
| 3 | May 23, 2022 | May 23, 2022 | May 23, 2022 | kr0.0700 | 0.391% |
| 4 | Aug 30, 2021 | Aug 30, 2021 | Aug 30, 2021 | kr0.0300 | 0.194% |
| 5 | Feb 28, 2019 | May 16, 2019 | Jun 05, 2019 | kr0.0230 | 0.310% |
FAQ
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