Shifeng Cultural Development Co Ltd Stock Forecast
Big movements in Shifeng Cultural Development Co Ltd stock price on Tuesday moving 21.51% between high and low
(Updated on Apr 30, 2024)
The Shifeng Cultural Development Co Ltd stock price gained 3.10% on the last trading day (Tuesday, 30th Apr 2024), rising from ¥13.53 to ¥13.95. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 21.51% from a day low at ¥11.76 to a day high of ¥14.29. The price has risen in 8 of the last 10 days and is up by 28.57% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 million more shares were traded than the day before. In total, 10 million shares were bought and sold for approximately ¥142.49 million.
The stock lies in the middle of a very 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 15.87% during the next 3 months and, with a 90% probability hold a price between ¥12.45 and ¥20.32 at the end of this 3-month period.
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002862.SZ Signals & Forecast
Mostly positive signals in the chart today. The Shifeng Cultural Development 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 ¥12.28 and ¥13.17. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 28.57%. 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 Shifeng Cultural Development Co Ltd stock
Shifeng Cultural Development Co Ltd finds support from accumulated volume at ¥13.43 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ¥2.53 between high and low, or 21.51%. For the last week, the stock has had daily average volatility of 11.50%.
Since the Shifeng Cultural Development Co Ltd has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: ¥13.41 (-3.90%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (002862.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Shifeng Cultural Development Co Ltd to open at ¥13.33, and during the day (based on 14 day Average True Range), to move between ¥12.66 and ¥15.24, which gives a possible trading interval of +/-¥1.29 (+/-9.23%) up or down from last closing price. If Shifeng Cultural Development Co Ltd takes out the full calculated possible swing range there will be an estimated 18.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥14.24 (2.08%) than the support at ¥13.43 (3.73%), 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.
Is Shifeng Cultural Development 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 Shifeng Cultural Development Co Ltd stock to perform well in the short-term.
Current score: 2.514 Buy Candidate Unchanged
Predicted Opening Price for Shifeng Cultural Development Co Ltd of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥13.33 ( 4.42%) | ¥13.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002862.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.86 | 13.72 % | |
| R2 | 14.90 | 6.79 % | ||
| R1 | 14.30 | 2.51 % | ||
| Current price: | 13.95 | |||
| Support | S1 | 12.37 | -11.35 % | |
| S2 | 11.77 | -15.63 % | ||
| S3 | 10.80 | -22.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.34 | 17.13 % | |
| R2 | 14.96 | 7.24 % | ||
| R1 | 14.24 | 2.08 % | ||
| Current price | 13.95 | |||
| Support | S1 | 13.43 | -3.73% | |
| S2 | 13.24 | -5.09% | ||
| S3 | 12.98 | -6.95% |
002862 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 29, 2020 | May 29, 2020 | May 29, 2020 | ¥0.0133 | 0.0618% |
| 2 | Jul 08, 2019 | Jul 08, 2019 | Jul 08, 2019 | ¥0.0667 | 0.433% |
| 3 | Jun 13, 2018 | Jun 13, 2018 | Jun 13, 2018 | ¥0.0400 | 0.266% |
FAQ
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