Fujian Rongji Software Co., Ltd. Stock Forecast
Fujian Rongji Software Co., Ltd. stock price took a fall of -8.20% on Wednesday
(Updated on Mar 27, 2024)
The Fujian Rongji Software Co., Ltd. stock price fell by -8.20% on the last day (Wednesday, 27th Mar 2024) from ¥6.22 to ¥5.71. During the last trading day the stock fluctuated 9.17% from a day low at ¥5.67 to a day high of ¥6.19. The price has fallen in 6 of the last 10 days and is down by -10.92% 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 -3 million shares and in total, 32 million shares were bought and sold for approximately ¥183.96 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 -5.55% during the next 3 months and, with a 90% probability hold a price between ¥3.37 and ¥6.32 at the end of this 3-month period.
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002474.SZ Signals & Forecast
The Fujian Rongji Software Co., Ltd. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ¥6.26. On a fall, the stock will find some support from the long-term average at approximately ¥5.30. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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, March 20, 2024, and so far it has fallen -15.03%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Fujian Rongji Software Co., Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥5.18 and ¥4.92. 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 Rongji Software Co., Ltd. finds support just below today's level at ¥5.18. If this is broken, then the next support from accumulated volume will be at ¥4.92 and ¥4.68.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ¥0.520 between high and low, or 9.17%. For the last week, the stock has had daily average volatility of 6.24%.
Our recommended stop-loss: ¥5.38 (-5.86%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (002474.SZ) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Fujian Rongji Software Co., Ltd. to open at ¥5.86, and during the day (based on 14 day Average True Range), to move between ¥5.33 and ¥6.09, which gives a possible trading interval of +/-¥0.380 (+/-6.66%) up or down from last closing price. If Fujian Rongji Software Co., Ltd. takes out the full calculated possible swing range there will be an estimated 13.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥5.18 (9.28%) than the resistance at ¥6.60 (15.59%), 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 Rongji Software Co., Ltd. stock A Buy?
Fujian Rongji Software Co., Ltd. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.440 Hold/Accumulate Unchanged
Predicted Opening Price for Fujian Rongji Software Co., Ltd. of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
¥5.86 ( 2.57%) | ¥5.71 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002474.SZ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 6.38 | 11.68 % | |
R2 | 6.18 | 8.20 % | ||
R1 | 6.06 | 6.05 % | ||
Current price: | 5.71 | |||
Support | S1 | 5.66 | -0.91 % | |
S2 | 5.54 | -3.06 % | ||
S3 | 5.34 | -6.54 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 6.72 | 17.69 % | |
R2 | 6.61 | 15.76 % | ||
R1 | 6.60 | 15.59 % | ||
Current price | 5.71 | |||
Support | S1 | 5.18 | -9.28% | |
S2 | 4.92 | -13.84% | ||
S3 | 4.68 | -18.04% |
002474 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 31, 2022 | May 31, 2022 | May 31, 2022 | ¥0.0100 | 0.173% |
2 | May 28, 2021 | May 28, 2021 | May 28, 2021 | ¥0.0150 | 0.213% |
3 | May 16, 2019 | May 16, 2019 | May 16, 2019 | ¥0.0100 | 0.117% |
4 | May 14, 2018 | May 14, 2018 | May 14, 2018 | ¥0.0100 | 0.109% |
5 | May 12, 2017 | May 12, 2017 | May 12, 2017 | ¥0.0100 | 0.0956% |
FAQ
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