Foryou Corp Stock Forecast
Foryou Corp stock price up 2.13% on Tuesday
(Updated on Apr 30, 2024)
The Foryou Corp stock price gained 2.13% on the last trading day (Tuesday, 30th Apr 2024), rising from ¥30.56 to ¥31.21. 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 9.19% from a day low at ¥28.85 to a day high of ¥31.50. The price has risen in 7 of the last 10 days and is up by 13.04% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 11 million shares were bought and sold for approximately ¥349.70 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ¥31.61 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 35.85% during the next 3 months and, with a 90% probability hold a price between ¥36.63 and ¥42.94 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
002906.SZ Signals & Forecast
Mostly positive signals in the chart today. The Foryou Corp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ¥29.44 and ¥27.67. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 27, 2024, and so far it has risen 25.04%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Foryou Corp stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥29.08 and ¥28.57. 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, Foryou Corp finds support just below today's level at ¥29.08. If this is broken, then the next support from accumulated volume will be at ¥28.57 and ¥28.42.
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 ¥2.65 between high and low, or 9.19%. For the last week, the stock has had daily average volatility of 5.91%.
Our recommended stop-loss: ¥29.93 (-4.10%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (002906.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Foryou Corp to open at ¥30.52, and during the day (based on 14 day Average True Range), to move between ¥29.64 and ¥32.78, which gives a possible trading interval of +/-¥1.57 (+/-5.02%) up or down from last closing price. If Foryou Corp takes out the full calculated possible swing range there will be an estimated 10.04% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ¥29.08, some ¥2.13 (6.82%) from the current price of ¥31.21, our system finds the risk reward attractive.
Is Foryou Corp stock A Buy?
Foryou Corp holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 6.519 Strong Buy Candidate Unchanged
Predicted Opening Price for Foryou Corp of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥30.52 ( 2.21%) | ¥31.21 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002906.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.17 | 6.28 % | |
| R2 | 32.16 | 3.04 % | ||
| R1 | 31.53 | 1.03 % | ||
| Current price: | 31.21 | |||
| Support | S1 | 29.51 | -5.45 % | |
| S2 | 28.88 | -7.46 % | ||
| S3 | 27.87 | -10.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 31.21 | |||
| Support | S1 | 29.08 | -6.82% | |
| S2 | 28.57 | -8.46% | ||
| S3 | 28.42 | -8.94% |
002906 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 24, 2023 | May 24, 2023 | May 24, 2023 | ¥0.250 | 0.92% |
| 2 | May 30, 2022 | May 30, 2022 | May 30, 2022 | ¥0.200 | 0.524% |
| 3 | May 28, 2021 | May 28, 2021 | May 28, 2021 | ¥0.200 | 0.682% |
| 4 | Jun 01, 2020 | Jun 01, 2020 | Jun 01, 2020 | ¥0.100 | 0.766% |
| 5 | Jun 27, 2018 | Jun 27, 2018 | Jun 27, 2018 | ¥0.250 | 1.36% |
FAQ
Click here for our free guide on how to buy Foryou Corp Stock.
