Jinhui Shipping & Transportation Ltd Stock Forecast
Jinhui Shipping & Transportation Ltd stock price down 0.601% on Monday
(Updated on Jun 17, 2024)
The Jinhui Shipping & Transportation Ltd stock price fell by -0.601% on the last day (Monday, 17th Jun 2024) from kr6.66 to kr6.62. During the last trading day the stock fluctuated 8.54% from a day low at kr6.32 to a day high of kr6.86. The price has fallen in 6 of the last 10 days and is down by -10.05% 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 -40 thousand shares and in total, 13 thousand shares were bought and sold for approximately kr85.92 thousand.
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 kr6.51 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 21.14% during the next 3 months and, with a 90% probability hold a price between kr7.88 and kr9.28 at the end of this 3-month period.
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JIN.OL Signals & Forecast
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 kr6.82. On a fall, the stock will find some support from the long-term average at approximately kr6.51. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, May 31, 2024, and so far it has fallen -10.54%. 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 along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued. 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 kr0.540 between high and low, or 8.54%. For the last week the stock has had daily average volatility of 8.70%.
Our recommended stop-loss: kr6.28 (-5.11%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (JIN.OL) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Jinhui Shipping & Transportation Ltd to open at kr6.60, and during the day (based on 14 day Average True Range), to move between kr6.19 and kr7.05, which gives a possible trading interval of +/-kr0.426 (+/-6.44%) 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 12.88% 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 (2.11%) than the support at kr6.12 (7.55%), 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 short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Jinhui Shipping & Transportation Ltd stock to perform well in the short-term.
Current score: 2.486 Buy Candidate Unchanged
Predicted Opening Price for Jinhui Shipping & Transportation Ltd of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| kr6.60 ( 0.302%) | kr6.62 |
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 | 7.14 | 7.85% |
| R2 | 6.93 | 4.74% |
| R1 | 6.81 | 2.81% |
| Price | 6.62 | |
| S1 | 6.39 | -3.42% |
| S2 | 6.27 | -5.34% |
| S3 | 6.06 | -8.46% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.40 | 11.78% |
| R2 | 7.36 | 11.18% |
| R1 | 6.76 | 2.11% |
| Price | 6.62 | |
| S1 | 6.12 | -7.55% |
| S2 | 5.80 | -12.39% |
| S3 | 5.70 | -13.90% |
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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