J-Long Group Limited Stock Forecast

Red day on Friday for J-Long Group Limited stock after losing 0.246%
(Updated on May 03, 2024)

JL 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 J-Long Group Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.793 and $0.94. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -19.78%. Further fall is indicated until a new bottom pivot has been found. 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.

Support, Risk & Stop-loss for J-Long Group Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.689 and $0.620. 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, J-Long Group Limited finds support just below today's level at $0.689. If this is broken, then the next support from accumulated volume will be at $0.620 and $0.613.

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0549 between high and low, or 7.29%. For the last week the stock has had daily average volatility of 8.34%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (JL) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect J-Long Group Limited to open at $0.777, and during the day (based on 14 day Average True Range), to move between $0.481 and $1.06, which gives a possible trading interval of +/-$0.289 (+/-37.56%) up or down from last closing price. If J-Long Group Limited takes out the full calculated possible swing range there will be an estimated 75.12% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.780 (1.29%) than the support at $0.689 (10.56%), 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 J-Long Group Limited stock A Buy?

J-Long Group Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -6.026 Strong Sell Candidate Unchanged

Predicted Opening Price for J-Long Group Limited of Monday, May 6, 2024

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