RONGFENG HOLDING GROUP CO.,LTD. Stock Forecast
RONGFENG HOLDING GROUP CO.,LTD. stock price ended at ¥8.28 on Friday, after gaining 3.89%.
(Updated on May 17, 2024)
The RONGFENG HOLDING GROUP CO.,LTD. stock price gained 3.89% on the last trading day (Friday, 17th May 2024), rising from ¥7.97 to ¥8.28. 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 5.21% from a day low at ¥7.87 to a day high of ¥8.28. The price has risen in 7 of the last 10 days and is up by 14.05% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 7 million shares were bought and sold for approximately ¥57.64 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ¥8.72 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -7.47% during the next 3 months and, with a 90% probability hold a price between ¥5.58 and ¥8.07 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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000668.SZ Signals & Forecast
Mostly positive signals in the chart today. The RONGFENG HOLDING GROUP CO.,LTD. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ¥7.87 and ¥7.77. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 33.12%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for RONGFENG HOLDING GROUP CO.,LTD. stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥7.68 and ¥7.54. 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, RONGFENG HOLDING GROUP CO.,LTD. finds support just below today's level at ¥7.68. If this is broken, then the next support from accumulated volume will be at ¥7.54 and ¥7.26.
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 ¥0.410 between high and low, or 5.21%. For the last week, the stock has had daily average volatility of 5.07%.
The RONGFENG HOLDING GROUP CO.,LTD. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: ¥8.00 (-3.36%) (This stock has high daily movements and this gives high risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (000668.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect RONGFENG HOLDING GROUP CO.,LTD. to open at ¥8.14, and during the day (based on 14 day Average True Range), to move between ¥7.69 and ¥8.87, which gives a possible trading interval of +/-¥0.591 (+/-7.14%) up or down from last closing price. If RONGFENG HOLDING GROUP CO.,LTD. takes out the full calculated possible swing range there will be an estimated 14.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥8.39 (1.33%) than the support at ¥7.68 (7.25%), 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 RONGFENG HOLDING GROUP CO.,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.
Current score: 3.849 Buy Candidate Unchanged
Predicted Opening Price for RONGFENG HOLDING GROUP CO.,LTD. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥8.14 ( 1.65%) | ¥8.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000668.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.55 | 3.30 % | |
| R2 | 8.40 | 1.41 % | ||
| R1 | 8.30 | 0.241 % | ||
| Current price: | 8.28 | |||
| Support | S1 | 7.99 | -3.54 % | |
| S2 | 7.89 | -4.71 % | ||
| S3 | 7.73 | -6.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.55 | 3.26 % | |
| R2 | 8.52 | 2.90 % | ||
| R1 | 8.39 | 1.33 % | ||
| Current price | 8.28 | |||
| Support | S1 | 7.68 | -7.25% | |
| S2 | 7.54 | -8.94% | ||
| S3 | 7.26 | -12.32% |
000668 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 14, 2020 | Jul 14, 2020 | Jul 14, 2020 | ¥0.0600 | 0.276% |
| 2 | Jun 28, 2019 | Jun 28, 2019 | Jun 28, 2019 | ¥0.0400 | 0.248% |
| 3 | Jun 14, 2018 | Jun 14, 2018 | Jun 14, 2018 | ¥0.0200 | 0.161% |
| 4 | Jul 18, 2016 | Jul 18, 2016 | Jul 18, 2016 | ¥0.0200 | 0.0880% |
| 5 | Jul 24, 2014 | Jul 24, 2014 | Jul 24, 2014 | ¥0.0100 | 0.104% |
FAQ
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