Jin Medical International Ltd. Stock Forecast
Stronger technical forecast for Jin Medical International Ltd. stock price after Friday trading.
(Updated on Apr 26, 2024)
The Jin Medical International Ltd. stock price gained 3.06% on the last trading day (Friday, 26th Apr 2024), rising from $3.92 to $4.04. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 6.25% from a day low at $3.80 to a day high of $4.04. The price has risen in 6 of the last 10 days and is up by 30.32% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 159 thousand shares were bought and sold for approximately $643.20 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 very wide and falling trend in the short term and further fall within the trend is signaled. Due to the high volatility and the trend direction we are not able to give forecast range for this stock.
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ZJYL Signals & Forecast
The Jin Medical International Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $3.75 and $3.89. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 25, 2024, and so far it has risen 41.75%. Further rise is indicated until a new top pivot has been found. 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. 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.
Support, Risk & Stop-loss for Jin Medical International Ltd. stock
Jin Medical International Ltd. finds support from accumulated volume at $3.92 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.238 between high and low, or 6.25%. For the last week the stock has had daily average volatility of 14.22%.
Our recommended stop-loss: $3.91 (-3.18%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (ZJYL) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Jin Medical International Ltd. to open at $3.96, and during the day (based on 14 day Average True Range), to move between $2.35 and $5.73, which gives a possible trading interval of +/-$1.69 (+/-41.85%) up or down from last closing price. If Jin Medical International Ltd. takes out the full calculated possible swing range there will be an estimated 83.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.07 (0.74%) than the support at $3.92 (2.97%), 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 Jin Medical International Ltd. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.242 Buy Candidate Upgraded
Predicted Opening Price for Jin Medical International Ltd. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $3.96 ( 1.96%) | $4.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZJYL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.20 | 3.92 % | |
| R2 | 4.11 | 1.68 % | ||
| R1 | 4.05 | 0.286 % | ||
| Current price: | 4.04 | |||
| Support | S1 | 3.87 | -4.21 % | |
| S2 | 3.81 | -5.60 % | ||
| S3 | 3.72 | -7.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.38 | 8.42 % | |
| R2 | 4.34 | 7.43 % | ||
| R1 | 4.07 | 0.743 % | ||
| Current price | 4.04 | |||
| Support | S1 | 3.92 | -2.97% | |
| S2 | 3.43 | -15.10% | ||
| S3 | 3.13 | -22.52% |
FAQ
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