Fujian Septwolves Industry Co Ltd Stock Forecast
Green day on Friday for Fujian Septwolves Industry Co Ltd stock after gaining 1.46%
(Updated on Apr 26, 2024)
The Fujian Septwolves Industry Co Ltd stock price gained 1.46% on the last trading day (Friday, 26th Apr 2024), rising from ¥5.47 to ¥5.55. 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 2.77% from a day low at ¥5.41 to a day high of ¥5.56. The price has risen in 6 of the last 10 days but is still down by -2.12% 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, 7 million shares were bought and sold for approximately ¥38.39 million.
The stock lies in the middle of a wide and strong 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 11.55% during the next 3 months and, with a 90% probability hold a price between ¥5.75 and ¥6.57 at the end of this 3-month period.
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002029.SZ Signals & Forecast
The Fujian Septwolves Industry Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥5.45 and ¥5.48. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -3.14%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Fujian Septwolves Industry Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥5.15 and ¥5.06. 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, Fujian Septwolves Industry Co Ltd finds support just below today's level at ¥5.15. If this is broken, then the next support from accumulated volume will be at ¥5.06 and ¥4.60.
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 ¥0.150 between high and low, or 2.77%. For the last week, the stock has had daily average volatility of 2.50%.
Our recommended stop-loss: ¥5.31 (-4.37%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (002029.SZ) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Fujian Septwolves Industry Co Ltd to open at ¥5.51, and during the day (based on 14 day Average True Range), to move between ¥5.35 and ¥5.75, which gives a possible trading interval of +/-¥0.202 (+/-3.64%) up or down from last closing price. If Fujian Septwolves Industry Co Ltd takes out the full calculated possible swing range there will be an estimated 7.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥5.63 (1.44%) than the support at ¥5.15 (7.21%), 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.
Earnings coming up
Fujian Septwolves Industry Co Ltd will release earnings BMO on Friday, April 26, 2024. We will update the financials statements for Fujian Septwolves Industry Co Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.35% in the first trading day after earnings release.
Is Fujian Septwolves Industry Co Ltd stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Fujian Septwolves Industry Co Ltd stock to perform well in the short-term.
Current score: 1.865 Buy Candidate Unchanged
Predicted Opening Price for Fujian Septwolves Industry Co Ltd of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ¥5.51 ( 0.781%) | ¥5.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002029.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.66 | 1.92 % | |
| R2 | 5.60 | 0.89 % | ||
| R1 | 5.56 | 0.252 % | ||
| Current price: | 5.55 | |||
| Support | S1 | 5.45 | -1.81 % | |
| S2 | 5.41 | -2.45 % | ||
| S3 | 5.36 | -3.48 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.73 | 3.24 % | |
| R2 | 5.70 | 2.70 % | ||
| R1 | 5.63 | 1.44 % | ||
| Current price | 5.55 | |||
| Support | S1 | 5.15 | -7.21% | |
| S2 | 5.06 | -8.83% | ||
| S3 | 4.60 | -17.12% |
002029 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 24, 2021 | Jun 24, 2021 | Jun 24, 2021 | ¥0.100 | 1.62% |
| 2 | Jul 07, 2020 | Jul 07, 2020 | Jul 07, 2020 | ¥0.100 | 1.87% |
| 3 | Jun 27, 2019 | Jun 27, 2019 | Jun 27, 2019 | ¥0.100 | 1.53% |
| 4 | Jun 12, 2018 | Jun 12, 2018 | Jun 12, 2018 | ¥0.100 | 1.11% |
| 5 | Jun 14, 2017 | Jun 14, 2017 | Jun 14, 2017 | ¥0.100 | 1.04% |
FAQ
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