Huafon Microfibre Stock Forecast
Huafon Microfibre stock upgraded from Strong Sell Candidate to Sell Candidate after Wednesday trading session.
(Updated on Jun 26, 2024)
The Huafon Microfibre stock price gained 4.20% on the last trading day (Wednesday, 26th Jun 2024), rising from ¥3.57 to ¥3.72. During the last trading day the stock fluctuated 6.55% from a day low at ¥3.51 to a day high of ¥3.74. The price has risen in 7 of the last 10 days and is up by 5.08% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 13 million more shares were traded than the day before. In total, 47 million shares were bought and sold for approximately ¥173.01 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 12.08% during the next 3 months and, with a 90% probability hold a price between ¥3.63 and ¥5.24 at the end of this 3-month period.
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300180.SZ Signals & Forecast
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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Huafon Microfibre stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ¥3.88. On a fall, the stock will find some support from the short-term average at ¥3.67. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -16.40%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Huafon Microfibre stock
Huafon Microfibre finds support from accumulated volume at ¥3.62 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 ¥0.230 between high and low, or 6.55%. For the last week, the stock has had daily average volatility of 5.02%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (300180.SZ) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Huafon Microfibre to open at ¥3.66, and during the day (based on 14 day Average True Range), to move between ¥3.47 and ¥3.97, which gives a possible trading interval of +/-¥0.251 (+/-6.74%) up or down from last closing price. If Huafon Microfibre takes out the full calculated possible swing range there will be an estimated 13.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥3.79 (1.88%) than the support at ¥3.62 (2.69%), 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 Huafon Microfibre stock A Buy?
Huafon Microfibre 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -1.392 Sell Candidate Upgraded
Predicted Opening Price for Huafon Microfibre of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ¥3.66 ( 1.70%) | ¥3.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300180.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.89 | 4.48% |
| R2 | 3.80 | 2.12% |
| R1 | 3.74 | 0.659% |
| Price | 3.72 | |
| S1 | 3.57 | -4.06% |
| S2 | 3.51 | -5.52% |
| S3 | 3.43 | -7.89% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.02 | 8.06% |
| R2 | 4.01 | 7.80% |
| R1 | 3.79 | 1.88% |
| Price | 3.72 | |
| S1 | 3.62 | -2.69% |
| S2 | 3.54 | -4.84% |
| S3 | 3.52 | -5.38% |
300180 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 02, 2020 | Jul 02, 2020 | Jul 02, 2020 | ¥0.0200 | 0.229% |
| 2 | Jul 11, 2019 | Jul 11, 2019 | Jul 11, 2019 | ¥0.0233 | 0.248% |
| 3 | Jun 14, 2018 | Jun 14, 2018 | Jun 14, 2018 | ¥0.0185 | 0.218% |
| 4 | Jun 01, 2017 | Jun 01, 2017 | Jun 01, 2017 | ¥0.0111 | 0.115% |
| 5 | Jun 28, 2016 | Jun 28, 2016 | Jun 28, 2016 | ¥0.0111 | 0.175% |
FAQ
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