Songcheng Performance Development Co Ltd Stock Forecast
Songcheng Performance Development Co Ltd stock price down 0.492% on Thursday
(Updated on May 30, 2024)
The Songcheng Performance Development Co Ltd stock price fell by -0.492% on the last day (Thursday, 30th May 2024) from ¥10.17 to ¥10.12. During the last trading day the stock fluctuated 1.70% from a day low at ¥10.02 to a day high of ¥10.19. The price has fallen in 5 of the last 10 days and is down by -1.08% for this period. 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 -9 million shares and in total, 11 million shares were bought and sold for approximately ¥110.01 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.56% during the next 3 months and, with a 90% probability hold a price between ¥9.26 and ¥10.21 at the end of this 3-month period.
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300144.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, May 28, 2024, and so far it has risen 1.71%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Songcheng Performance Development 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 ¥10.22 and ¥10.42. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A buy signal from a double bottom formation was found on Tuesday, May 28, 2024 and based on theory for this formation the price should go up by 9.07% to ¥11.04 within 23 trading days since signal was issued (Friday, May 31, 2024).
Support, Risk & Stop-loss for Songcheng Performance Development Co Ltd stock
Songcheng Performance Development Co Ltd finds support from accumulated volume at ¥10.03 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ¥0.170 (1.70%) between high and low. For the last week, the stock has had daily average volatility of 2.48%.
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 Friday 31st
For the upcoming trading day on Friday, 31st we expect Songcheng Performance Development Co Ltd to open at ¥10.11, and during the day (based on 14 day Average True Range), to move between ¥9.74 and ¥10.50, which gives a possible trading interval of +/-¥0.378 (+/-3.73%) 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 7.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥10.03 (0.89%) than the resistance at ¥10.56 (4.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Songcheng Performance Development Co Ltd stock A Buy?
Songcheng Performance Development Co Ltd holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.121 Sell Candidate Unchanged
Predicted Opening Price for Songcheng Performance Development Co Ltd of Friday, May 31, 2024
| Fair opening price May 31, 2024 | Current price |
|---|---|
| ¥10.11 ( 0.0988%) | ¥10.12 |
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 | 10.28 | 1.58 % | |
| R2 | 10.22 | 0.94 % | ||
| R1 | 10.17 | 0.543 % | ||
| Current price: | 10.12 | |||
| Support | S1 | 10.05 | -0.741 % | |
| S2 | 10.00 | -1.14 % | ||
| S3 | 9.94 | -1.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.68 | 5.53 % | |
| R2 | 10.60 | 4.74 % | ||
| R1 | 10.56 | 4.35 % | ||
| Current price | 10.12 | |||
| Support | S1 | 10.03 | -0.89% | |
| S2 | 9.95 | -1.68% | ||
| S3 | 9.93 | -1.88% |
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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