Fujian Snowman Co Ltd Stock Forecast
Evaluation of Fujian Snowman Co Ltd stock downgraded after the last trading session.
(Updated on May 17, 2024)
The Fujian Snowman Co Ltd stock price gained 0.499% on the last trading day (Friday, 17th May 2024), rising from ¥6.01 to ¥6.04. During the last trading day the stock fluctuated 2.68% from a day low at ¥5.97 to a day high of ¥6.13. The price has fallen in 6 of the last 10 days and is down by -4.73% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 494 thousand more shares were traded than the day before. In total, 8 million shares were bought and sold for approximately ¥49.12 million.
The stock lies in the middle of a 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 -9.97% during the next 3 months and, with a 90% probability hold a price between ¥5.10 and ¥6.17 at the end of this 3-month period.
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002639.SZ Signals & Forecast
There are mixed signals in the stock today. The Fujian Snowman 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 ¥6.04 and ¥6.45. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 2.03%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Fujian Snowman Co Ltd stock
Fujian Snowman Co Ltd finds support from accumulated volume at ¥6.01 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ¥0.160 (2.68%) between high and low. For the last week, the stock has had daily average volatility of 2.58%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002639.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Fujian Snowman Co Ltd to open at ¥6.05, and during the day (based on 14 day Average True Range), to move between ¥5.78 and ¥6.30, which gives a possible trading interval of +/-¥0.260 (+/-4.31%) up or down from last closing price. If Fujian Snowman Co Ltd takes out the full calculated possible swing range there will be an estimated 8.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥6.01 (0.50%) than the resistance at ¥6.90 (14.24%), 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
Fujian Snowman Co Ltd will release earnings BMO on Tuesday, May 21, 2024. We will update the financials statements for Fujian Snowman Co Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.52% in the first trading day after earnings release.
Is Fujian Snowman Co Ltd stock A Buy?
Fujian Snowman 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 Hold/Accumulate to a Sell candidate.
Current score: -2.182 Sell Candidate Downgraded
Predicted Opening Price for Fujian Snowman Co Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥6.05 ( 0.110%) | ¥6.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002639.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.21 | 2.76 % | |
| R2 | 6.15 | 1.75 % | ||
| R1 | 6.11 | 1.12 % | ||
| Current price: | 6.04 | |||
| Support | S1 | 5.99 | -0.90 % | |
| S2 | 5.95 | -1.53 % | ||
| S3 | 5.89 | -2.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.50 | 24.17 % | |
| R2 | 7.39 | 22.35 % | ||
| R1 | 6.90 | 14.24 % | ||
| Current price | 6.04 | |||
| Support | S1 | 6.01 | -0.497% | |
| S2 | 5.97 | -1.16% | ||
| S3 | 5.92 | -1.99% |
002639 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 12, 2019 | Jul 12, 2019 | Jul 12, 2019 | ¥0.0069 | 0.0869% |
| 2 | Jul 11, 2017 | Jul 11, 2017 | Jul 11, 2017 | ¥0.0148 | 0.162% |
| 3 | May 26, 2016 | May 26, 2016 | May 26, 2016 | ¥0.0085 | 0.0951% |
| 4 | May 29, 2015 | May 29, 2015 | May 29, 2015 | ¥0.0067 | 0.0514% |
| 5 | Jul 21, 2014 | Jul 21, 2014 | Jul 21, 2014 | ¥0.0240 | 0.504% |
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