Fujian Sanmu Group Co., Ltd. Stock Forecast
Green day on Tuesday for Fujian Sanmu Group Co., Ltd.
(Updated on May 07, 2024)
The Fujian Sanmu Group Co., Ltd. stock price gained 0.92% on the last trading day (Tuesday, 7th May 2024), rising from ¥3.25 to ¥3.28. During the last trading day the stock fluctuated 4.09% from a day low at ¥3.18 to a day high of ¥3.31. The price has risen in 7 of the last 10 days and is up by 13.49% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 9 million shares were bought and sold for approximately ¥27.93 million. 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 weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.03% during the next 3 months and, with a 90% probability hold a price between ¥2.80 and ¥3.81 at the end of this 3-month period.
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000632.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 20.15%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Fujian Sanmu Group Co., Ltd. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ¥3.34. On a fall, the stock will find some support from the short-term average at ¥3.12. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Fujian Sanmu Group Co., Ltd. stock
Fujian Sanmu Group Co., Ltd. finds support from accumulated volume at ¥3.22 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ¥0.130 between high and low, or 4.09%. For the last week, the stock has had daily average volatility of 6.79%.
Our recommended stop-loss: ¥3.16 (-3.64%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (000632.SZ) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Fujian Sanmu Group Co., Ltd. to open at ¥3.26, and during the day (based on 14 day Average True Range), to move between ¥3.01 and ¥3.55, which gives a possible trading interval of +/-¥0.266 (+/-8.10%) up or down from last closing price. If Fujian Sanmu Group Co., Ltd. takes out the full calculated possible swing range there will be an estimated 16.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥3.22 (1.83%) than the resistance at ¥3.37 (2.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Fujian Sanmu Group Co., Ltd. will release earnings BMO on Wednesday, May 15, 2024. We will update the financials statements for Fujian Sanmu Group Co., Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.98% in the first trading day after earnings release.
Is Fujian Sanmu Group Co., Ltd. stock A Buy?
Fujian Sanmu Group Co., Ltd. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.120 Hold/Accumulate Unchanged
Predicted Opening Price for Fujian Sanmu Group Co., Ltd. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| ¥3.26 ( 0.711%) | ¥3.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000632.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.39 | 3.25 % | |
| R2 | 3.34 | 1.74 % | ||
| R1 | 3.31 | 0.80 % | ||
| Current price: | 3.28 | |||
| Support | S1 | 3.21 | -2.23 % | |
| S2 | 3.18 | -3.16 % | ||
| S3 | 3.13 | -4.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.58 | 9.15 % | |
| R2 | 3.40 | 3.66 % | ||
| R1 | 3.37 | 2.74 % | ||
| Current price | 3.28 | |||
| Support | S1 | 3.22 | -1.83% | |
| S2 | 2.94 | -10.37% | ||
| S3 | 2.65 | -19.21% |
000632 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 16, 2002 | Aug 16, 2002 | Aug 16, 2002 | ¥0.0434 | 0.580% |
| 2 | Aug 28, 2001 | Aug 28, 2001 | Aug 28, 2001 | ¥0.0651 | 1.11% |
| 3 | Aug 19, 1999 | Aug 19, 1999 | Aug 19, 1999 | ¥0.130 | 2.90% |
FAQ
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