Songcheng Performance Development Co Ltd Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Songcheng Performance Development Co Ltd stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 17, 2024)
The Songcheng Performance Development Co Ltd stock price gained 1.95% on the last trading day (Friday, 17th May 2024), rising from ¥10.27 to ¥10.47. During the last trading day the stock fluctuated 4.71% from a day low at ¥10.20 to a day high of ¥10.68. The price has fallen in 5 of the last 10 days and is down by -3.59% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 million more shares were traded than the day before. In total, 21 million shares were bought and sold for approximately ¥221.08 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 ¥9.70 and ¥10.68 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 buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥10.45 and ¥10.46. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 15, 2024, and so far it has risen 2.35%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
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 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 ¥0.480 (4.71%) between high and low. For the last week, the stock has had daily average volatility of 4.08%.
Our recommended stop-loss: ¥9.93 (-5.14%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (300144.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Songcheng Performance Development Co Ltd to open at ¥10.45, and during the day (based on 14 day Average True Range), to move between ¥10.05 and ¥10.89, which gives a possible trading interval of +/-¥0.423 (+/-4.04%) 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 8.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥10.42 (0.48%) than the resistance at ¥10.56 (0.86%), 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 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.019 Hold/Accumulate Upgraded
Predicted Opening Price for Songcheng Performance Development Co Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥10.45 ( 0.191%) | ¥10.47 |
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 | 10.93 | 4.39 % | |
| R2 | 10.75 | 2.64 % | ||
| R1 | 10.63 | 1.56 % | ||
| Current price: | 10.47 | |||
| Support | S1 | 10.27 | -1.94 % | |
| S2 | 10.15 | -3.02 % | ||
| S3 | 9.97 | -4.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.88 | 3.92 % | |
| R2 | 10.68 | 2.01 % | ||
| R1 | 10.56 | 0.86 % | ||
| Current price | 10.47 | |||
| Support | S1 | 10.42 | -0.478% | |
| S2 | 10.36 | -1.05% | ||
| S3 | 10.23 | -2.29% |
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% |
FAQ
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