Futong Technology Development Holdings Stock Forecast
Futong Technology Development Holdings stock price fell more than -14.29% Thursday closing at HK$0.360
(Updated on Jul 04, 2024)
The Futong Technology Development Holdings stock price fell by -14.29% on the last day (Thursday, 4th Jul 2024) from HK$0.420 to HK$0.360. During the last trading day the stock fluctuated 2.86% from a day low at HK$0.350 to a day high of HK$0.360. The price has fallen in 5 of the last 10 days and is down by -21.74% for this period. Volume has increased on the last day by 20 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 20 thousand shares were bought and sold for approximately HK$7.20 thousand.
Given the current short-term trend, the stock is expected to rise 38.51% during the next 3 months and, with a 90% probability hold a price between HK$0.499 and HK$0.730 at the end of this 3-month period.
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0465.HK Signals & Forecast
There are few to no technical positive signals at the moment. The Futong Technology Development Holdings stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$0.416 and HK$0.408. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 17, 2024, and so far it has fallen -27.27%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Futong Technology Development Holdings gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Futong Technology Development Holdings stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$0.315 and HK$0.305. 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, Futong Technology Development Holdings finds support just below today's level at HK$0.315. If this is broken, then the next support from accumulated volume will be at HK$0.305 and HK$0.290.
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 HK$0.0100 between high and low, or 2.86%. For the last week, the stock has had daily average volatility of 0.81%.
Our recommended stop-loss: HK$0.341 (-5.16%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (0465.HK) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Futong Technology Development Holdings Limited to open at HK$0.357, and during the day (based on 14 day Average True Range), to move between HK$0.338 and HK$0.382, which gives a possible trading interval of +/-HK$0.0215 (+/-5.98%) up or down from last closing price. If Futong Technology Development Holdings Limited takes out the full calculated possible swing range there will be an estimated 11.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at HK$0.390 (8.33%) than the support at HK$0.315 (12.50%), 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 Futong Technology Development Holdings Limited stock A Buy?
Futong Technology Development Holdings holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
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 Futong Technology Development Holdings Limited of Friday, July 5, 2024
Fair opening price July 5, 2024 | Current price |
---|---|
HK$0.357 ( 0.93%) | HK$0.360 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0465.HK
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.367 | 1.85% |
R2 | 0.363 | 0.791% |
R1 | 0.360 | 0.135% |
Price | 0.360 | |
S1 | 0.353 | -1.99% |
S2 | 0.350 | -2.64% |
S3 | 0.347 | -3.70% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.435 | 20.83% |
R2 | 0.415 | 15.28% |
R1 | 0.390 | 8.33% |
Price | 0.360 | |
S1 | 0.315 | -12.50% |
S2 | 0.305 | -15.28% |
S3 | 0.290 | -19.44% |
0465 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 21, 2019 | May 21, 2019 | May 21, 2019 | HK$0.0220 | 2.63% |
2 | May 24, 2017 | May 24, 2017 | May 24, 2017 | HK$0.0190 | 1.60% |
3 | May 18, 2016 | May 18, 2016 | May 18, 2016 | HK$0.0280 | 2.66% |
4 | May 20, 2015 | May 20, 2015 | May 20, 2015 | HK$0.0400 | 2.50% |
5 | May 26, 2014 | May 26, 2014 | May 26, 2014 | HK$0.0500 | 4.59% |
FAQ
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