Bank of Suzhou Co Ltd Stock Forecast
Bank of Suzhou Co Ltd stock price ended at ¥7.16 on Tuesday, after gaining 0.280%.
(Updated on Jun 18, 2024)
The Bank of Suzhou Co Ltd stock price gained 0.280% on the last trading day (Tuesday, 18th Jun 2024), rising from ¥7.14 to ¥7.16. During the last trading day the stock fluctuated 2.13% from a day low at ¥7.05 to a day high of ¥7.20. The price has fallen in 5 of the last 10 days and is down by -8.09% for this period. Volume fell on the last day by -13 million shares and in total, 27 million shares were bought and sold for approximately ¥193.75 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 lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥7.07 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 8.25% during the next 3 months and, with a 90% probability hold a price between ¥7.66 and ¥8.99 at the end of this 3-month period.
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002966.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 1.70%. Further rise is indicated until a new top pivot has been found. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Bank of Suzhou 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 ¥7.20 and ¥7.59. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Tuesday, September 12, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Tuesday, September 12, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Bank of Suzhou Co Ltd stock
Bank of Suzhou Co Ltd finds support from accumulated volume at ¥7.14 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 ¥0.150 between high and low, or 2.13%. For the last week, the stock has had daily average volatility of 3.07%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002966.SZ) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Bank of Suzhou Co Ltd to open at ¥7.14, and during the day (based on 14 day Average True Range), to move between ¥6.89 and ¥7.43, which gives a possible trading interval of +/-¥0.272 (+/-3.80%) up or down from last closing price. If Bank of Suzhou Co Ltd takes out the full calculated possible swing range there will be an estimated 7.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥7.17 (0.14%) than the support at ¥7.14 (0.28%), 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 Bank of Suzhou Co Ltd stock A Buy?
The Bank of Suzhou Co Ltd stock holds several negative signals and despite the positive trend, we believe Bank of Suzhou Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.378 Sell Candidate Unchanged
Predicted Opening Price for Bank of Suzhou Co Ltd of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| ¥7.14 ( 0.326%) | ¥7.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002966.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.29 | 1.77% |
| R2 | 7.23 | 0.97% |
| R1 | 7.19 | 0.474% |
| Price | 7.16 | |
| S1 | 7.08 | -1.13% |
| S2 | 7.04 | -1.62% |
| S3 | 6.99 | -2.42% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.90 | 10.34% |
| R2 | 7.55 | 5.45% |
| R1 | 7.17 | 0.140% |
| Price | 7.16 | |
| S1 | 7.14 | -0.279% |
| S2 | 7.13 | -0.419% |
| S3 | 6.96 | -2.79% |
002966 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 06, 2024 | Jun 06, 2024 | Jun 06, 2024 | ¥0.390 | 5.36% |
| 2 | May 31, 2023 | May 31, 2023 | May 31, 2023 | ¥0.330 | 4.85% |
| 3 | May 11, 2022 | May 11, 2022 | May 11, 2022 | ¥0.280 | 4.55% |
| 4 | May 27, 2021 | May 27, 2021 | May 27, 2021 | ¥0.218 | 3.13% |
| 5 | Jun 04, 2020 | Jun 04, 2020 | Jun 04, 2020 | ¥0.182 | 2.41% |
FAQ
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