Dalian Friendship (Group) Co., Ltd. Stock Forecast
Weaker technical forecast for Dalian Friendship (Group) Co., Ltd. as stock downgraded to Strong Sell Candidate.
(Updated on Apr 30, 2024)
The Dalian Friendship (Group) Co., Ltd. stock price fell by -3.51% on the last day (Tuesday, 30th Apr 2024) from ¥3.42 to ¥3.30. During the last trading day the stock fluctuated 6.52% from a day low at ¥3.22 to a day high of ¥3.43. The price has been going up and down for this period, and there has been a -0.9% loss for the last 2 weeks. Volume has increased on the last day by 268 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 12 million shares were bought and sold for approximately ¥38.21 million.
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. Given the current short-term trend, the stock is expected to fall -7.32% during the next 3 months and, with a 90% probability hold a price between ¥2.63 and ¥4.03 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 ¥3.84. On a fall, the stock will find some support from the short-term average at ¥3.20. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 11.49%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Dalian Friendship (Group) Co., Ltd. stock
Dalian Friendship (Group) Co., Ltd. finds support from accumulated volume at ¥3.28 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 ¥0.210 between high and low, or 6.52%. For the last week, the stock has had daily average volatility of 6.05%.
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 Monday 6th
For the upcoming trading day on Monday, 6th we expect Dalian Friendship (Group) Co., Ltd. to open at ¥3.32, and during the day (based on 14 day Average True Range), to move between ¥2.96 and ¥3.64, which gives a possible trading interval of +/-¥0.342 (+/-10.37%) 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 20.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥3.28 (0.61%) than the resistance at ¥3.34 (1.21%), 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
Dalian Friendship (Group) Co., Ltd. will release earnings BMO on Friday, May 10, 2024. We will update the financials statements for Dalian Friendship (Group) Co., Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.96% in the first trading day after earnings release.
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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.056 Strong Sell Candidate Downgraded
Predicted Opening Price for Dalian Friendship (Group) Co., Ltd. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥3.32 ( 0.505%) | ¥3.30 |
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 | 3.53 | 6.87 % | |
| R2 | 3.45 | 4.44 % | ||
| R1 | 3.40 | 2.94 % | ||
| Current price: | 3.30 | |||
| Support | S1 | 3.24 | -1.93 % | |
| S2 | 3.19 | -3.43 % | ||
| S3 | 3.11 | -5.86 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.09 | 23.94 % | |
| R2 | 3.77 | 14.24 % | ||
| R1 | 3.34 | 1.21 % | ||
| Current price | 3.30 | |||
| Support | S1 | 3.28 | -0.606% | |
| S2 | 3.24 | -1.82% | ||
| S3 | 3.20 | -3.03% |
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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