Fosun International Limited Stock Forecast
Fosun International Limited stock price ended at HK$4.38 on Friday, after losing 1.13%.
(Updated on May 31, 2024)
The Fosun International Limited stock price fell by -1.13% on the last day (Friday, 31st May 2024) from HK$4.43 to HK$4.38. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 4.17% from a day low at HK$4.32 to a day high of HK$4.50. The price has fallen in 8 of the last 10 days and is down by -14.95% for this period. Volume has increased on the last day by 7 million 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, 10 million shares were bought and sold for approximately HK$43.54 million.
Given the current short-term trend, the stock is expected to rise 15.20% during the next 3 months and, with a 90% probability hold a price between HK$5.05 and HK$6.07 at the end of this 3-month period.
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0656.HK Signals & Forecast
There are few to no technical positive signals at the moment. The Fosun International Limited 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 HK$4.53 and HK$4.62. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -14.95%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Fosun International Limited stock
Fosun International Limited finds support from accumulated volume at HK$4.30 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 HK$0.180 between high and low, or 4.17%. For the last week, the stock has had daily average volatility of 3.61%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0656.HK) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Fosun International Limited to open at HK$4.40, and during the day (based on 14 day Average True Range), to move between HK$4.22 and HK$4.54, which gives a possible trading interval of +/-HK$0.161 (+/-3.68%) up or down from last closing price. If Fosun International Limited takes out the full calculated possible swing range there will be an estimated 7.35% 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$4.43 (1.14%) than the support at HK$4.30 (1.83%), 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.
Earnings coming up
Fosun International Limited will release earnings BMO on Thursday, June 06, 2024. We will update the financials statements for Fosun International Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.37% in the first trading day after earnings release.
Is Fosun International Limited stock A Buy?
The Fosun International Limited stock holds several negative signals and despite the positive trend, we believe Fosun International Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.066 Sell Candidate Unchanged
Predicted Opening Price for Fosun International Limited of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| HK$4.40 ( 0.457%) | HK$4.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0656.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.58 | 4.57 % | |
| R2 | 4.51 | 3.00 % | ||
| R1 | 4.47 | 2.03 % | ||
| Current price: | 4.38 | |||
| Support | S1 | 4.33 | -1.11 % | |
| S2 | 4.29 | -2.08 % | ||
| S3 | 4.22 | -3.65 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.07 | 15.75 % | |
| R2 | 4.93 | 12.56 % | ||
| R1 | 4.43 | 1.14 % | ||
| Current price | 4.38 | |||
| Support | S1 | 4.30 | -1.83% | |
| S2 | 4.26 | -2.74% | ||
| S3 | 4.22 | -3.65% |
0656 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 12, 2024 | Jun 12, 2024 | Jul 19, 2024 | HK$0.0380 | 0.87% |
| 2 | Jun 14, 2023 | Jun 14, 2023 | Jun 14, 2023 | HK$0.0140 | 0.256% |
| 3 | Jun 08, 2022 | Jun 08, 2022 | Jun 08, 2022 | HK$0.300 | 3.88% |
| 4 | Jun 08, 2021 | Jun 08, 2021 | Jun 08, 2021 | HK$0.220 | 1.86% |
| 5 | Jun 08, 2020 | Jun 08, 2020 | Jun 08, 2020 | HK$0.270 | 2.61% |
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