Fujian Sunner Development Co Ltd Stock Forecast
Stronger technical forecast for Fujian Sunner Development Co Ltd stock price after Thursday trading.
(Updated on Apr 25, 2024)
The Fujian Sunner Development Co Ltd stock price fell by -0.192% on the last day (Thursday, 25th Apr 2024) from ¥15.62 to ¥15.59. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.75% from a day low at ¥15.43 to a day high of ¥15.70. The price has fallen in 6 of the last 10 days and is down by -0.89% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -4 million shares and in total, 6 million shares were bought and sold for approximately ¥86.55 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Fujian Sunner Development Co Ltd stock with a 90% probability to be traded between ¥14.72 and ¥17.02 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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002299.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Fujian Sunner Development Co Ltd 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 ¥15.68 and ¥15.88. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -2.74%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A sell signal from a double top formation was found on Wednesday, April 03, 2024 and based on theory for this formation the price should fall by -7.08% to ¥14.49 within 9 trading days since signal was issued (Friday, April 26, 2024).
Support, Risk & Stop-loss for Fujian Sunner Development Co Ltd stock
Fujian Sunner Development Co Ltd finds support from accumulated volume at ¥15.58 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 ¥0.270 between high and low, or 1.75%. For the last week, the stock has had daily average volatility of 3.38%.
Our recommended stop-loss: ¥14.76 (-5.31%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (002299.SZ) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Fujian Sunner Development Co Ltd to open at ¥15.57, and during the day (based on 14 day Average True Range), to move between ¥14.98 and ¥16.20, which gives a possible trading interval of +/-¥0.607 (+/-3.89%) up or down from last closing price. If Fujian Sunner Development Co Ltd takes out the full calculated possible swing range there will be an estimated 7.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥15.58 (0.06%) than the resistance at ¥16.01 (2.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Fujian Sunner Development Co Ltd stock A Buy?
Fujian Sunner Development Co Ltd holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.920 Hold/Accumulate Upgraded
Predicted Opening Price for Fujian Sunner Development Co Ltd of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| ¥15.57 ( 0.107%) | ¥15.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002299.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.84 | 1.62 % | |
| R2 | 15.74 | 0.96 % | ||
| R1 | 15.68 | 0.555 % | ||
| Current price: | 15.59 | |||
| Support | S1 | 15.47 | -0.768 % | |
| S2 | 15.41 | -1.18 % | ||
| S3 | 15.30 | -1.84 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.69 | 7.06 % | |
| R2 | 16.55 | 6.16 % | ||
| R1 | 16.01 | 2.69 % | ||
| Current price | 15.59 | |||
| Support | S1 | 15.58 | -0.0641% | |
| S2 | 15.53 | -0.385% | ||
| S3 | 15.50 | -0.577% |
002299 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 26, 2024 | Apr 26, 2024 | Apr 26, 2024 | ¥0.300 | 1.92% |
| 2 | May 08, 2023 | May 08, 2023 | May 08, 2023 | ¥0.200 | 0.97% |
| 3 | May 23, 2022 | May 23, 2022 | May 23, 2022 | ¥0.300 | 1.74% |
| 4 | Jan 20, 2021 | Jan 20, 2021 | Jan 20, 2021 | ¥1.00 | 3.77% |
| 5 | Jan 20, 2020 | Jan 20, 2020 | Jan 20, 2020 | ¥1.50 | 6.50% |
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