Dalian Friendship (Group) Co., Ltd. Stock Forecast
Stronger technical forecast for Dalian Friendship (Group) Co., Ltd. stock price after Wednesday trading.
(Updated on Apr 24, 2024)
The Dalian Friendship (Group) Co., Ltd. stock price gained 4.19% on the last trading day (Wednesday, 24th Apr 2024), rising from ¥3.10 to ¥3.23. During the last trading day the stock fluctuated 4.52% from a day low at ¥3.10 to a day high of ¥3.24. The price has fallen in 6 of the last 10 days and is down by -21.79% for this period. Volume fell on the last day by -3 million shares and in total, 9 million shares were bought and sold for approximately ¥30.35 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 lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥2.93 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -12.80% during the next 3 months and, with a 90% probability hold a price between ¥2.56 and ¥4.35 at the end of this 3-month period.
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000679.SZ Signals & Forecast
There are mixed signals in the stock today. The Dalian Friendship (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 ¥3.90. On a fall, the stock will find some support from the short-term average at ¥3.17. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 9.12%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Dalian Friendship (Group) Co., Ltd. stock
Dalian Friendship (Group) Co., Ltd. finds support from accumulated volume at ¥3.20 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ¥0.140 between high and low, or 4.52%. For the last week, the stock has had daily average volatility of 17.31%.
Dalian Friendship (Group) Co., Ltd. is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000679.SZ) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Dalian Friendship (Group) Co., Ltd. to open at ¥3.19, and during the day (based on 14 day Average True Range), to move between ¥2.84 and ¥3.62, which gives a possible trading interval of +/-¥0.389 (+/-12.05%) up or down from last closing price. If Dalian Friendship (Group) Co., Ltd. takes out the full calculated possible swing range there will be an estimated 24.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥3.20 (0.93%) than the resistance at ¥3.28 (1.55%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Dalian Friendship (Group) Co., Ltd. stock A Buy?
Dalian Friendship (Group) Co., Ltd. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.163 Sell Candidate Upgraded
Predicted Opening Price for Dalian Friendship (Group) Co., Ltd. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| ¥3.19 ( 1.24%) | ¥3.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000679.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.33 | 3.10 % | |
| R2 | 3.28 | 1.44 % | ||
| R1 | 3.24 | 0.417 % | ||
| Current price: | 3.23 | |||
| Support | S1 | 3.14 | -2.89 % | |
| S2 | 3.10 | -3.92 % | ||
| S3 | 3.05 | -5.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.77 | 16.72 % | |
| R2 | 3.34 | 3.41 % | ||
| R1 | 3.28 | 1.55 % | ||
| Current price | 3.23 | |||
| Support | S1 | 3.20 | -0.93% | |
| S2 | 3.15 | -2.48% | ||
| S3 | 2.96 | -8.36% |
000679 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 11, 2017 | Jul 11, 2017 | Jul 11, 2017 | ¥0.100 | 1.02% |
| 2 | Jul 17, 2015 | Jul 17, 2015 | Jul 17, 2015 | ¥0.0500 | 0.303% |
| 3 | Jul 03, 2014 | Jul 03, 2014 | Jul 03, 2014 | ¥0.250 | 4.54% |
| 4 | Jun 21, 2013 | Jun 21, 2013 | Jun 21, 2013 | ¥0.200 | 3.69% |
| 5 | Jul 12, 2012 | Jul 12, 2012 | Jul 12, 2012 | ¥0.0800 | 1.36% |
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