Fortune Sun Stock Forecast
Fortune Sun stock price up 0.81% on Friday
(Updated on Jun 28, 2024)
The Fortune Sun stock price gained 0.81% on the last trading day (Friday, 28th Jun 2024), rising from HK$0.124 to HK$0.125. During the last trading day the stock fluctuated 0% from a day low at HK$0.125 to a day high of HK$0.125. The price has been going up and down for this period, and there has been a 5.04% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 100 thousand more shares were traded than the day before. In total, 100 thousand shares were bought and sold for approximately HK$12.50 thousand.
The stock lies in the middle of a 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 23.11% during the next 3 months and, with a 90% probability hold a price between HK$0.138 and HK$0.169 at the end of this 3-month period.
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0352.HK Signals & Forecast
The Fortune Sun 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 HK$0.123 and HK$0.116. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 17, 2024, and so far it has risen 38.89%. 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). Fortune Sun has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Fortune Sun stock
Fortune Sun finds support from accumulated volume at HK$0.119 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.85%.
Our recommended stop-loss: HK$0.121 (-3.52%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 351 days ago.)
Trading Expectations (0352.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Fortune Sun to open at HK$0.125, and during the day (based on 14 day Average True Range), to move between HK$0.121 and HK$0.129, which gives a possible trading interval of +/-HK$0.0036 (+/-2.91%) up or down from last closing price. If Fortune Sun takes out the full calculated possible swing range there will be an estimated 5.83% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$0.119, some HK$0.0060 (4.80%) from the current price of HK$0.125, our system finds the risk reward attractive.
Is Fortune Sun stock A Buy?
Fortune Sun 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: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Fortune Sun of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| HK$0.125 ( 0%) | HK$0.125 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0352.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.125 | - |
| R2 | 0.125 | - |
| R1 | 0.125 | - |
| Price | 0.125 | |
| S1 | 0.125 | - |
| S2 | 0.125 | - |
| S3 | 0.125 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 0.125 | |
| S1 | 0.119 | -4.80% |
| S2 | 0.113 | -9.60% |
| S3 | 0.102 | -18.40% |
0352 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 16, 2008 | Jun 16, 2008 | Jun 16, 2008 | HK$0.0238 | 2.17% |
| 2 | Jun 07, 2007 | Jun 07, 2007 | Jun 07, 2007 | HK$0.0228 | 2.59% |
FAQ
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