Yunji Inc. Stock Forecast
Yunji Inc. stock price ended at $0.700 on Tuesday, after gaining 1.46%.
(Updated on Jul 02, 2024)
The Yunji Inc. stock price gained 1.46% on the last trading day (Tuesday, 2nd Jul 2024), rising from $0.690 to $0.700. During the last trading day the stock fluctuated 0.90% from a day low at $0.700 to a day high of $0.706. The price has risen in 6 of the last 10 days but is still down by -2.1% for this period. Volume fell on the last day by -19 thousand shares and in total, 3 thousand shares were bought and sold for approximately $1.91 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 middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -11.30% during the next 3 months and, with a 90% probability hold a price between $0.573 and $0.707 at the end of this 3-month period.
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YJ Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 2.19%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Yunji Inc. 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 $0.701 and $0.737. A break-up above any of these levels will issue buy signals. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Tuesday, June 25, 2024 and based on theory for this formation the price should go up by 21.18% to $0.85 within 17 trading days since signal was issued (Friday, July 19, 2024).
Support, Risk & Stop-loss for Yunji Inc. stock
Yunji Inc. finds support from accumulated volume at $0.690 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0063 between high and low, or 0.90%. For the last week the stock has had daily average volatility of 5.07%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (YJ) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Yunji Inc. to open at $0.702, and during the day (based on 14 day Average True Range), to move between $0.655 and $0.745, which gives a possible trading interval of +/-$0.0445 (+/-6.36%) up or down from last closing price. If Yunji Inc. takes out the full calculated possible swing range there will be an estimated 12.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.690 (1.44%) than the resistance at $0.720 (2.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Yunji Inc. stock A Buy?
Yunji Inc. holds several negative signals and is within a 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: -2.292 Sell Candidate Unchanged
Predicted Opening Price for Yunji Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.702 ( 0.300%) | $0.700 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for YJ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.708 | 1.20% |
| R2 | 0.706 | 0.86% |
| R1 | 0.705 | 0.644% |
| Price | 0.700 | |
| S1 | 0.700 | -0.0438% |
| S2 | 0.698 | -0.256% |
| S3 | 0.696 | -0.600% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.774 | 10.63% |
| R2 | 0.751 | 7.29% |
| R1 | 0.720 | 2.86% |
| Price | 0.700 | |
| S1 | 0.690 | -1.44% |
| S2 | 0.689 | -1.56% |
| S3 | 0.682 | -2.56% |
FAQ
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