Songcheng Performance Development Co Ltd Stock Forecast
Songcheng Performance Development Co Ltd stock price down 1.31% on Wednesday
(Updated on May 08, 2024)
The Songcheng Performance Development Co Ltd stock price fell by -1.31% on the last day (Wednesday, 8th May 2024) from ¥10.68 to ¥10.54. During the last trading day the stock fluctuated 2.47% from a day low at ¥10.51 to a day high of ¥10.77. The price has been going up and down for this period, and there has been a 6.14% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -3 million shares and in total, 20 million shares were bought and sold for approximately ¥211.20 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Songcheng Performance Development Co Ltd stock with a 90% probability to be traded between ¥9.83 and ¥10.85 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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300144.SZ Signals & Forecast
The Songcheng Performance Development Co Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ¥10.63. On a fall, the stock will find some support from the long-term average at approximately ¥10.53. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -2.95%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Songcheng Performance Development Co Ltd stock
Songcheng Performance Development Co Ltd finds support from accumulated volume at ¥10.42 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 ¥0.260 between high and low, or 2.47%. For the last week, the stock has had daily average volatility of 3.16%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (300144.SZ) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Songcheng Performance Development Co Ltd to open at ¥10.61, and during the day (based on 14 day Average True Range), to move between ¥10.10 and ¥10.98, which gives a possible trading interval of +/-¥0.441 (+/-4.19%) up or down from last closing price. If Songcheng Performance Development Co Ltd takes out the full calculated possible swing range there will be an estimated 8.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥10.56 (0.19%) than the support at ¥10.42 (1.14%), 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 Songcheng Performance Development Co Ltd stock A Buy?
Songcheng Performance Development Co Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.852 Sell Candidate Unchanged
Predicted Opening Price for Songcheng Performance Development Co Ltd of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| ¥10.61 ( 0.633%) | ¥10.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300144.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.87 | 3.10 % | |
| R2 | 10.77 | 2.16 % | ||
| R1 | 10.71 | 1.57 % | ||
| Current price: | 10.54 | |||
| Support | S1 | 10.51 | -0.310 % | |
| S2 | 10.45 | -0.89 % | ||
| S3 | 10.35 | -1.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.88 | 3.23 % | |
| R2 | 10.68 | 1.33 % | ||
| R1 | 10.56 | 0.190 % | ||
| Current price | 10.54 | |||
| Support | S1 | 10.42 | -1.14% | |
| S2 | 10.36 | -1.71% | ||
| S3 | 10.23 | -2.94% |
300144 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 09, 2023 | Jun 09, 2023 | Jun 09, 2023 | ¥0.0500 | 0.386% |
| 2 | Jun 02, 2022 | Jun 02, 2022 | Jun 02, 2022 | ¥0.0500 | 0.396% |
| 3 | Jun 02, 2021 | Jun 02, 2021 | Jun 02, 2021 | ¥0.0500 | 0.281% |
| 4 | May 29, 2020 | May 29, 2020 | May 29, 2020 | ¥0.111 | 0.604% |
| 5 | May 16, 2019 | May 16, 2019 | May 16, 2019 | ¥0.0667 | 0.552% |
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