Scienjoy Holding Corporation Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Volatile ride for Scienjoy Holding Corporation stock price on Friday moving between $0.85 and $1.04
(Updated on May 17, 2024)
The Scienjoy Holding Corporation stock price fell by -1.00% on the last day (Friday, 17th May 2024) from $0.95 to $0.94. During the last trading day the stock fluctuated 22.19% from a day low at $0.85 to a day high of $1.04. The price has risen in 6 of the last 10 days and is up by 16.25% over the past 2 weeks. 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 -11 thousand shares and in total, 32 thousand shares were bought and sold for approximately $30.45 thousand.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Scienjoy Holding Corporation stock with a 90% probability to be traded between $0.762 and $1.09 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SJ 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 Scienjoy Holding Corporation 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 $0.96 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, May 15, 2024, and so far it has fallen -8.52%. 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Scienjoy Holding Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.88 and $0.84. 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, Scienjoy Holding Corporation finds support just below today's level at $0.88. If this is broken, then the next support from accumulated volume will be at $0.84 and $0.83.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.189 between high and low, or 22.19%. For the last week the stock has had daily average volatility of 16.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SJ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Scienjoy Holding Corporation to open at $0.94, and during the day (based on 14 day Average True Range), to move between $0.83 and $1.04, which gives a possible trading interval of +/-$0.104 (+/-11.13%) up or down from last closing price. If Scienjoy Holding Corporation takes out the full calculated possible swing range there will be an estimated 22.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.96 (2.38%) than the support at $0.88 (6.51%), 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 Scienjoy Holding Corporation stock A Buy?
Scienjoy Holding Corporation 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.752 Sell Candidate Downgraded
Predicted Opening Price for Scienjoy Holding Corporation of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.94 ( 0.558%) | $0.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SJ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.13 | 20.70 % | |
| R2 | 1.06 | 13.01 % | ||
| R1 | 1.02 | 8.25 % | ||
| Current price: | 0.94 | |||
| Support | S1 | 0.87 | -7.14 % | |
| S2 | 0.83 | -11.89 % | ||
| S3 | 0.754 | -19.59 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.09 | 16.24 % | |
| R2 | 1.04 | 10.91 % | ||
| R1 | 0.96 | 2.38 % | ||
| Current price | 0.94 | |||
| Support | S1 | 0.88 | -6.51% | |
| S2 | 0.84 | -10.95% | ||
| S3 | 0.83 | -11.49% |
FAQ
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