SUFA Technology Industry Co., Ltd., CNNC Stock Forecast
Green day on Wednesday for SUFA Technology Industry Co., Ltd., CNNC
(Updated on Jun 12, 2024)
The SUFA Technology Industry Co., Ltd., CNNC stock price gained 1.87% on the last trading day (Wednesday, 12th Jun 2024), rising from ¥16.04 to ¥16.34. It has now gained 3 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 3.20% from a day low at ¥15.92 to a day high of ¥16.43. The price has fallen in 6 of the last 10 days and is down by -8.31% for this period. 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, 9 million shares were bought and sold for approximately ¥140.90 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥15.92 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 10.82% during the next 3 months and, with a 90% probability hold a price between ¥17.64 and ¥24.22 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
000777.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 3.35%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The SUFA Technology Industry Co., Ltd., CNNC stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ¥16.36 and ¥17.80. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for SUFA Technology Industry Co., Ltd., CNNC stock
SUFA Technology Industry Co., Ltd., CNNC finds support from accumulated volume at ¥16.29 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ¥0.510 between high and low, or 3.20%. For the last week, the stock has had daily average volatility of 8.58%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000777.SZ) For The Upcoming Trading Day Of Thursday 13th
For the upcoming trading day on Thursday, 13th we expect SUFA Technology Industry Co., Ltd., CNNC to open at ¥16.23, and during the day (based on 14 day Average True Range), to move between ¥15.14 and ¥17.54, which gives a possible trading interval of +/-¥1.20 (+/-7.32%) up or down from last closing price. If SUFA Technology Industry Co., Ltd., CNNC takes out the full calculated possible swing range there will be an estimated 14.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥16.29 (0.31%) than the resistance at ¥18.70 (14.44%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is SUFA Technology Industry Co., Ltd., CNNC stock A Buy?
The SUFA Technology Industry Co., Ltd., CNNC stock holds several negative signals and despite the positive trend, we believe SUFA Technology Industry Co., Ltd., CNNC will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.095 Sell Candidate Unchanged
Predicted Opening Price for SUFA Technology Industry Co., Ltd., CNNC of Thursday, June 13, 2024
| Fair opening price June 13, 2024 | Current price |
|---|---|
| ¥16.23 ( 0.673%) | ¥16.34 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000777.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.74 | 2.45% |
| R2 | 16.55 | 1.26% |
| R1 | 16.42 | 0.519% |
| Price | 16.34 | |
| S1 | 16.04 | -1.87% |
| S2 | 15.91 | -2.60% |
| S3 | 15.72 | -3.79% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 19.45 | 19.03% |
| R2 | 19.07 | 16.71% |
| R1 | 18.70 | 14.44% |
| Price | 16.34 | |
| S1 | 16.29 | -0.306% |
| S2 | 16.23 | -0.673% |
| S3 | 15.62 | -4.41% |
000777 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 25, 2023 | Jul 25, 2023 | Jul 25, 2023 | ¥0.121 | 0.82% |
| 2 | Jul 20, 2022 | Jul 20, 2022 | Jul 20, 2022 | ¥0.0940 | 0.82% |
| 3 | Jul 23, 2021 | Jul 23, 2021 | Jul 23, 2021 | ¥0.0820 | 0.715% |
| 4 | Jul 10, 2020 | Jul 10, 2020 | Jul 10, 2020 | ¥0.107 | 0.82% |
| 5 | Jun 21, 2019 | Jun 21, 2019 | Jun 21, 2019 | ¥0.0900 | 0.622% |
FAQ
Click here for our free guide on how to buy SUFA Technology Industry Co., Ltd., CNNC Stock.
